kaal:claim:2715083-017

Alternative mutual funds generally cannot deliver the same absolute returns as hedge funds, a shortfall some attribute to the lighter touch regulation and better incentives available to hedge funds.

Alternative funds generally cannot generate the same absolute returns as hedge funds (Hasanhodzic & Lo (2007) and McCarthy (2015)), which is attributed by some to the lighter touch regulation and better incentives applicable to hedge funds.

Kaal, Confluence of Mutual and Private Funds (2016), IV.1 Investor Preferences, p. 11
https://ssrn.com/abstract=2715083 · source PDF

Kaal, Confluence of Mutual and Private Funds (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2715083

• comparison of registered alternative funds with unregistered hedge funds

failuresupport: evidencedfailure: Return replication shortfallfamily: investor-protection-gapprivate-fundsrisk-and-incentives

• supports kaal:claim:2714974-037 The prohibition on performance fees for investment companies is the most important structural difference from ...
• extended_by kaal:claim:2811729-027 Unconstrained mutual funds take on private fund-like risk without a corresponding return advantage: private fu...

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