The Good or the Bad? Which Mutual Fund Managers Join Hedge Funds?

Deuskar, P and Pollet, J M and Wang, Z J and Zheng, L (2011) The Good or the Bad? Which Mutual Fund Managers Join Hedge Funds? The Review of Financial Studies, 24 (9). pp. 3008-3024.



Does the mutual fund industry lose its best managers to hedge funds? We find that mutual funds are able to retain managers with good performance in the face of competition from a growing hedge fund industry. On the other hand, poor performers are more likely to leave the mutual fund industry. A small fraction of these poor performers find jobs with smaller and younger hedge fund companies, especially when the hedge fund industry is growing rapidly. Analogously, a small fraction of the better-performing mutual fund managers are retained by allowing them to manage a hedge fund side-by-side.

Affiliation: Indian School of Business
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ISB CreatorsORCiD
Item Type: Article
Additional Information: The research paper was published by the author with the affiliation of University of Illinois.
Uncontrolled Keywords: Mutual funds, Hedge funds, Managerial turnover
Subjects: Finance
Depositing User: Ilayaraja M
Date Deposited: 17 May 2019 16:37
Last Modified: 17 May 2019 16:37
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