In April 2016 Manchester eScholar was replaced by the University of Manchester’s new Research Information Management System, Pure. In the autumn the University’s research outputs will be available to search and browse via a new Research Portal. Until then the University’s full publication record can be accessed via a temporary portal and the old eScholar content is available to search and browse via this archive.

How Risky are Low-Risk Hedge Funds?

Mattes, Achim; Kolokolova, Olga


Access to files


This paper investigates the determinants of the average level of risk of hedge funds, which provide high liquidity to their investors and report their returns on a daily basis. We find that larger funds and funds charging higher incentive fees exhibit lower risk, whereas funds charging higher management fees, imposing longer notice periods, and stemming from large fund-families take more risk. There is considerable variation in the risk levels between funds reporting in Euro and USD, with Euro funds being consistently less risky, suggesting that these funds target different types of investors with other preferences.


Hedge funds Risk taking Incentives

Bibliographic metadata

Type of resource:
Content type:
Publication status:
Publication type:
Publication form:
Published date:
Accepted date:
Publishers website:
Funding awarded externally:
Funder(s) acknowledged in this article?:
Research data access statement included:
Attached files embargo period:
Immediate release
Attached files release date:
22nd December, 2015
Access state:

Institutional metadata

University researcher(s):

Record metadata

Manchester eScholar ID:
Created by:
Kolokolova, Olga
17th November, 2015, 21:25:49
Last modified by:
Clayton, Leanda
Last modified:
21st January, 2016, 10:25:02

Can we help?

The library chat service will be available from 11am-3pm Monday to Friday (excluding Bank Holidays). You can also email your enquiry to us.