RESEARCH

The ABCs of Hedge Funds: Alpha, Beta and Costs

AMANDA WHITE

ABCs_of_Hedge_Funds_3-30-2010_web_nlThis hot-off-the-press revised version (March 30) of The ABCs of Hedge Funds, which decomposes returns into three components – systematic market exposure (beta), value-added by hedge funds (alpha), and hedge fund fees (costs) -  includes data up to the end of December 2009. Among other things it finds the universe of hedge funds produced a positive alpha from every year of the last decade, even through the recent financial crisis.

 
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