Offshore hedge funds: Survival and performance, 1989-95

Stephen Jeffrey Brown, William N Goetzmann, Robert G Ibbotson

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311 Citations (Scopus)


We examine the performance of the off-shore hedge fund industry over the period 1989 through 1995 using a database that includes both defunct and currently operating funds. The industry is characterized by high attrition rates of funds, low covariance with the U.S. stock market, evidence consistent with positive risk-adjusted returns over the time, and little evidence of differential manager skill.
Original languageEnglish
Pages (from-to)91-117
JournalJournal of Business
Issue number1
Publication statusPublished - Jan 1999
Externally publishedYes

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