# Aum

`kaal:entity:aum`

**Status.** derived

This node is assembled mechanically from the 6 claims that carry the concept tag `aum`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

6 claims across 3 works, 2014 to 2016.

**2014**

- [2389416-016](https://wulfkaal.github.io/claims/2389416-016) [empirical/evidenced] -- In simple linear regressions of monthly returns on log AUM across the full sample, the AUM coefficient is statistically significant at the 5 percent level only during March through August 2012.
  > When considering the entire sample and no dummy variable, the estimated beta for the logarithm of the AUM are statistically significant at 5% level only in the period March-August 2012.
  Wulf A. Kaal, Barbara Luppi, Sandra Paterlini, Did the Dodd-Frank Act Impact Hedge Fund Performance (2014). SSRN: https://ssrn.com/abstract=2389416
- [2389423-016](https://wulfkaal.github.io/claims/2389423-016) [empirical/evidenced] -- Linear, robust, and non-linear regression models all show positive and statistically significant coefficients, and compliance costs per unit of AUM do not diminish in the sample, so the hypothesis that smaller advisers pay relatively more is not supported.
  > Figures X and Y show that linear, robust, and non-linear regression models show positive and statistically significant coefficients. Compliance costs per unit AUM do not diminish in the sample. There is thus no support for the hypothesis.
  Wulf A. Kaal, The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry (2014). SSRN: https://ssrn.com/abstract=2389423
- [2389423-029](https://wulfkaal.github.io/claims/2389423-029) [empirical/evidenced] -- The compliance and administrative costs created by Title IV of the Dodd-Frank Act are associated with the size of hedge fund advisers' assets under management.
  > Exhibits 11-13 show that the compliance and administrative costs created by Title IV of the Dodd-Frank Act are associated with the size of hedge fund advisers' AUM.
  Wulf A. Kaal, The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry (2014). SSRN: https://ssrn.com/abstract=2389423
- [2389423-030](https://wulfkaal.github.io/claims/2389423-030) [empirical/evidenced] -- All regression models show positive and predominantly statistically significant coefficients, with 18 out of 30 coefficients in the entire sample statistically significant.
  > All regression models show positive and predominantly statistically significant coefficients. 18 out of 30 coefficients in the entire sample are statistically significant.
  Wulf A. Kaal, The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry (2014). SSRN: https://ssrn.com/abstract=2389423
- [2389423-031](https://wulfkaal.github.io/claims/2389423-031) [empirical/evidenced] -- Compliance costs per unit of AUM do not diminish in the entire sample or in the multi strategy subsample, so there is no support for the hypothesis that smaller advisers bear relatively higher Title IV compliance cost.
  > Compliance costs per unit AUM do not diminish in the entire sample and in the multi strategy subsample. There is thus no support for the hypothesis.
  Wulf A. Kaal, The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry (2014). SSRN: https://ssrn.com/abstract=2389423

**2016**

- [2816408-021](https://wulfkaal.github.io/claims/2816408-021) [empirical/evidenced] -- In simple linear regressions of monthly returns on log AUM across December 2011 to December 2012, fund size does not appear to matter for fund returns because only a few coefficients are statistically significant and those remain close to zero.
  > We conclude that size of the funds in our sample does not appear to matter for fund returns as only a few coefficients are statistically significant but are still close to zero.
  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

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/aum.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.