kaal:claim:2816408-005

Regulation could depress reported private fund performance through a compliance cost channel: because monthly performance is reported net of fees, a significant increase in compliance costs would show up immediately in monthly performance figures.

Source quote, verbatim

First, regulation could decrease performance by increasing compliance costs. Because private fund advisers' monthly performance is reported net of fees, a significant increase in compliance costs could have an immediate effect on monthly performance.

From

Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Private Fund Performance – Evidence from 2010 – 2015 (2016), 4. MOTIVATION, p. 7
https://ssrn.com/abstract=2816408 · source PDF

Cite as

Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Private Fund Performance – Evidence from 2010 – 2015 (2016). SSRN: https://ssrn.com/abstract=2816408

Holds when

performance reported net of fees
compliance costs borne at the fund level

Classification

mechanismsupport: arguedcomplianceprivate-funds

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