Offshore hedge funds: Survival and performance, 1989-95

Stephen Jeffrey Brown, William N Goetzmann, Robert G Ibbotson

Research output: Contribution to journalArticleResearchpeer-review

303 Citations (Scopus)

Abstract

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
Volume72
Issue number1
Publication statusPublished - Jan 1999
Externally publishedYes

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