The K@W Network:
Miller Anderson & Sherrerd Professor of Finance
For hedge funds, poor performance, closures and large investor withdrawals are raising questions about their future. But don’t expect hedge funds to disappear anytime soon.
It may sound counter-intuitive, but younger, actively managed mutual funds actually tend to outperform much older, active funds as well as their benchmarks.
Recent Wharton research has unearthed a new factor influencing managed-fund performance: the growing size of the industry.