Hedge funds: an industry in its adolescence

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Higher Risk, Lower Returns: What Hedge Fund Investors Really Earn (2011, methodology): “At the end of each month, we estimate the following time-series regression using past 24 month returns for each fund, As suggested in Fung and Hsieh (2006), we add an eighth factor - an emerging market index- to model the dynamical exposures of a typical Global/Macro hedge fund.”
Intermediary Asset Pricing (2013, unknown): “Hedge fund contracts typically pay the manager 20 percent of the fund’s return in excess of a benchmark, plus 1–2 percent of funds under management ( Fung and Hsieh 2006 .”
Trading Volume Around Earnings Announcements and Other Financial Reports: Theory, Research Design, Empirical Evidence, and Directions for Future Research (2010, unknown): “…because the trading behavior of less sophisticated investors has become more important to regulators since the advent of online trading (Ahmed et al. 2003), and regulators are also increasingly interested in the trading of hedge fund managers and other sophisticated investors (Fung and Hsieh 2006).”
A Model of Capital and Crises (2012, background): “Hedge fund contracts typically pay the manager 20% of the fund s return in excess of a benchmark, plus 1 2% of funds under management (Fung and Hsieh, 2006).”