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The Impact Of Leverage On Hedge Fund Performance, Wansoo Choi
The Impact Of Leverage On Hedge Fund Performance, Wansoo Choi
Financial Analyst
In this paper, the effect of leverage on hedge fund performance is measured. TASS data from 1994 to 2016 are used to measure the impact of leverage on hedge fund performance. Three hedge fund performance measurements are regressed on degree of leverage with eight control variables including fund size, strategies, and use of derivatives. The results show that for strategyadjusted return as a performance measurement, hedge fund leverage has a negative impact on fund performance. Also there is evidence of diseconomies of scale where funds with medium-sized assets under management (AUM) tend to show better performance than funds with high …
Gender Effects In Hedge Funds Performance, Karen Yoke Wah Gan
Gender Effects In Hedge Funds Performance, Karen Yoke Wah Gan
Dissertations and Theses Collection (Open Access)
This paper shows that after controlling for total risks (as funds do not typically hold a completely large diversified portfolio) across different funds, female-managed funds appear to perform better in certain circumstances. For example, female-managed hedge funds perform better during post-crisis times, for investments using the Relative Value Style and also when investments are in the Asia excluding Japan region. However, there are still many conditions in which male-managed funds seem to perform better. Namely, male-managed funds performed significantly positive in the Relative Value, Security Selection, and Multiprocess Styles, notably during the pre-crisis period and also when investments are in …