Are Manager Characteristics Affecting the Performance of Hedge Funds? - Lundberg, Marie;Blom, Helena
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The purpose of this thesis is to examine if and how the hedge fund manager s background characteristics and strategy applied affect the fund s performance, as measured by average monthly return, risk and risk-adjusted monthly return. This is done by collecting data on 41 different hedge fund managers in Sweden and then performing robust OLS regressions. Our main results are that applying a long-short equity strategy generates higher return, higher risk, and higher risk-adjusted return compared to the other strategies. Hedge fund managers with previous studies in business and economics generate…mehr

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Produktbeschreibung
The purpose of this thesis is to examine if and how the hedge fund manager s background characteristics and strategy applied affect the fund s performance, as measured by average monthly return, risk and risk-adjusted monthly return. This is done by collecting data on 41 different hedge fund managers in Sweden and then performing robust OLS regressions. Our main results are that applying a long-short equity strategy generates higher return, higher risk, and higher risk-adjusted return compared to the other strategies. Hedge fund managers with previous studies in business and economics generate lower return, take on less risk and generate lower risk-adjusted return. We find modest evidence of lower risk taking among former students of Lund University. Investing private funds in the hedge fund are found to have a negative impact on risk-adjusted return.
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Autorenporträt
Marie Lundberg holds a MSc in Finance from Stockholm School of Economics and is currently the CFO in a Swedish startup called Buildor.se.