New Study Lauds Fund of Hedge Funds Selection Capabilities, But Questions Fees

The much-maligned fund of hedge funds (FOHF) business model got a boost from an academic study. Academics at Purdue University and Loyola Marymount University found that active FOHF management “out perform their style indices” and that the diversified investment methodology “adds significant value.” The report, however, found “mixed evidence” of…