RESEARCH

Do funds of hedge funds really add value?

This paper, by Serge Darolles of Lyxor Asset Management, and Mathieu Vaissie, research associate at EDHEC-Risk Institute,  looks at the performance of funds of hedge funds through the crisis, and introduces a return-based attribution model allowing for the full decomposition of funds of hedge funds’ performance.

hedgefundspaper.pdf

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