Investment funds: What next?

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dc.contributor.authorCuthbertson, Keith
dc.contributor.authorNitzsche, Dirk
dc.contributor.authorO'Sullivan, Niall
dc.date.accessioned2014-11-27T13:15:20Z
dc.date.available2014-11-27T13:15:20Z
dc.date.issued2008-06
dc.date.updated2013-05-28T15:18:28Z
dc.description.abstractInvestment funds provide a low cost method of sharing in the rewards from capitalism. Recently “alternative investments” such as hedge funds have grown rapidly and the trading strategies open to hedge funds are now becoming available to mutual funds and even to ordinary retail investors. In this paper we analyze problems in assessing fund performance and the prospects for investment fund sectors. Choosing genuine outperformers among top funds requires a careful assessment of non-normality, order statistics and the possibility of false discoveries. The risk adjusted performance of the average hedge fund over the last 10-15 is actually not that impressive, although the “top” funds do appear to have statistically significant positive alphas.en
dc.description.statusPeer revieweden
dc.description.versionPublished Versionen
dc.format.mimetypeapplication/pdfen
dc.identifier.citationCuthbertson, K., Nitzsche, D. and N. O' Sullivan ; (2008) 'Investment Funds: What Next?'. Quantitative and Qualitative Analysis in Social Sciences, 2 (2):45-62. http://www.qass.org.uk/pastissuesV2I2Y08.htmen
dc.identifier.endpage62en
dc.identifier.issn1752-8925
dc.identifier.issued2en
dc.identifier.journaltitleQuantitative and Qualitative Analysis in Social Sciencesen
dc.identifier.startpage45en
dc.identifier.urihttps://hdl.handle.net/10468/1718
dc.identifier.volume2en
dc.language.isoenen
dc.publisherQuantitative and Qualitative Analysis in Social Sciencesen
dc.relation.urihttp://www.qass.org.uk/pastissuesV2I2Y08.htm
dc.subjectMutual fund performanceen
dc.subjectHedge fundsen
dc.subjectPersistenceen
dc.titleInvestment funds: What next?en
dc.typeArticle (peer-reviewed)en
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