# kaal:claim:2389416-015

**Claim.** The largest number of strategic funds moving their AUM below $150 million occurs in the April to May 2012 window, which suggests a lagged response to the March 30, 2012 registration effective date.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- strategic subsample
- period April to May 2012

**Source quote.**

> The largest positive spike, which corresponds to the largest number of funds that decreased their AUM below $150 million is in the period April-May 2012, possibly suggesting some lagged effect of the registration effective date for hedge fund advisers under the Dodd-Frank Act.

**From.** Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, *Did the Dodd-Frank Act Impact Hedge Fund Performance* (2014), 4. DATA SOURCES AND DESCRIPTIVE STATISTICS

**Cite as.** Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Hedge Fund Performance (2014). SSRN: https://ssrn.com/abstract=2389416

**Verify.** sha256 of source PDF `0e1c4615b104821577498d9655de43b9c5c3e985bb0215f56c038b8232be65c3` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20et%20al.%20-%202014%20-%20Did%20the%20Dodd-Frank%20Act%20Impact%20Hedge%20Fund%20Performance.pdf

**Topics.** securities-law, risk-and-incentives

**Keywords.** lagged-effect, aum-reduction, registration, strategic-behavior

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