# Private fund returns

`kaal:entity:private-fund-returns`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `private-fund-returns`. 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

3 claims across 1 works, 2016 to 2016.

**2016**

- [2816408-010](https://wulfkaal.github.io/claims/2816408-010) [empirical/evidenced] -- Private fund managers themselves distinguish costs from returns: a majority of surveyed managers opined that Dodd-Frank Act registration and disclosure requirements do not affect the returns of the private fund industry, even though compliance costs affect the profitability of their management companies.
  > the majority of private fund manager respondents opined that registration and disclosure requirements under the Dodd-Frank Act do not affect the returns of the private fund industry (Kaal 2013a, 2016b).
  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
- [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
- [2816408-031](https://wulfkaal.github.io/claims/2816408-031) [empirical/evidenced] -- Prior work by Kaal shows that Dodd-Frank Act registration and increased compliance requirements only marginally increase the cost structure of private funds, and finds non-robust evidence that higher administrative costs are a second-order effect that does not affect overall private fund returns.
  > Kaal (2013a, 2015c) finds non-robust evidence that the higher administrative costs imposed by the Dodd-Frank Act are a second-order effect of the regulation, thereby not affecting the overall returns of private funds.
  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/private-fund-returns.md | sha256sum

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