TY - JOUR T1 - Hedge Fund Investing in the Aftermath of the<br/>Crisis: <em>Where Did the Money Go?</em> JF - The Journal of Alternative Investments SP - 8 LP - 17 DO - 10.3905/jai.2011.14.2.008 VL - 14 IS - 2 AU - Guido Bolliger AU - Ivan Guidotti AU - Florent Pochon Y1 - 2011/09/30 UR - https://pm-research.com/content/14/2/8.abstract N2 - This article investigates the post-crisis preferences of hedge fund investors. The authors show that after the 2008 crisis, when money again started to flow into hedge funds, investors continued to chase the past best performers. In that sense, post-crisis money flows were not smarter than precrisis ones. They also find evidence, albeit mixed, that investors sought liquidity, as inflows mainly went into the most liquid funds and strategies. Finally, for single hedge funds, domicile was also a relevant criterion for allocation, with European Union–domiciled funds being the most favored. The authors also find that fee structure had a weak impact on allocation decisions.TOPICS: Real assets/alternative investments/private equity, financial crises and financial market history, developed, portfolio construction ER -