Publication Type
Magazine Article
Version
Publisher’s Version
Publication Date
10-2011
Abstract
Motivated by the stellar performance of flagship funds such as the Renaissance Medallion fund, we ask whether hedge fund firms (e.g. Renaissance Technologies) have incentives to protect the performance of their flagship funds (e.g. Medallion). We find that the flagship fund tends to outperform other funds within the fund family. The fees and redemption terms of non-flagship funds at launch is correlated with the past performance of the flagship fund. Finally, flagship fund performance has a positive impact on net flows into the other funds within the same family.
Keywords
hedge funds, flagship funds, performance
Discipline
Finance and Financial Management
Research Areas
Finance
Publication
Hedge Fund Insights
First Page
2
Last Page
6
Publisher
BNP Paribus Hedge Fund Centre, Singapore Management University
City or Country
Singapore
Citation
TEO, Melvyn.
(2011). Research Collection BNP Paribas Hedge Fund Centre. Hedge Fund Insights
, 2.
Available at: https://ink.library.smu.edu.sg/bnp_research/26
Copyright Owner and License
BNP Paribus Hedge Fund Centre, Singapore Management University
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.