kaal:claim:2739479-006

Private fund underperformance may be a product of institutionalization: pension funds have increased their private fund holdings and institutions now make up over two thirds of the private fund investor base, up from 20 percent a decade earlier.

Source quote, verbatim

The underperformance may result from the institutionalization of private funds, because pension funds increase private fund holdings, and, furthermore, institutions represent over two-thirds of the private fund base—up from 20% a decade ago.

From

Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016), II.1. Private Fund Industry Trends, p. 17
https://ssrn.com/abstract=2739479 · source PDF

Cite as

Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479

Holds when

hedge fund investor base as of 2015
explanation offered as possible, not established

Classification

mechanismsupport: arguedinstitutional-designprivate-funds

Verify

The quote above is an exact substring of the source PDF, whose sha256 is b2e7b81a16ab01c73478b62e85068f9dadc5cdd18427241e8bc5e8216a967730. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/7c6f3d1020e6c31b...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/2739479-006.md | sha256sum