# kaal:claim:2748096-025

**Claim.** The growth of hedge fund replication strategies packaged in exchange traded funds may further increase the systemic risks associated with certain hedge fund strategies.

**Type.** predictive  **Support.** speculative

**Holds when.**

- applies to ETF based replication of hedge fund strategies

**Source quote.**

> The growth of hedge fund replication strategies in exchange-traded funds (ETFs) may further increase hedge funds' systemic risks associated with certain strategies (Ramaswamy 2011).

**From.** Wulf A. Kaal, Timothy A. Krause, *Hedge Funds and Systemic Risk* (2016), Hedge Fund Returns and Investment Strategies, page 9

**Cite as.** Wulf A. Kaal, Timothy A. Krause, Hedge Funds and Systemic Risk (2016). SSRN: https://ssrn.com/abstract=2748096

**Verify.** sha256 of source PDF `8f30260f2c1db728b45c4f3b9b7c64358cf9d3217277bc3c63a910c32f87b508` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Krause%20-%202016%20-%20Hedge%20Funds%20and%20Systemic%20Risk.pdf

**Topics.** systemic-risk, risk-and-incentives

**Keywords.** etfs, replication-strategies, systemic-risk, retailization

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