Is the SEC Registration Status of Hedge Fund Advisers Associated with Superior Performance?

Abstract

In this study the differences between the return performance of the funds whose advisors have voluntarily registered with the SEC versus those that are unregistered are examined. Evidence shows that registered funds in several important categories outperform their unregistered counterparts, however, this phenomenon does not appear to be due to the registration event.

TOPICS: Real assets/alternative investments/private equity, legal/regulatory/public policy, performance measurement