Academic Study of Hedge Fund: One in Five
The Financial Times today had a piece referencing a study put out by New York University’s Stern School regarding hedge fund fraud.
Of those hedge funds included in the study, one in five misrepresented the performance of their fund or its performance to investors during formal due diligence investigations.
Other misrepresentations by hedge fund managers in the study included lying about unblemished legal records or even former criminal activity, including stealing a Chinese junk ship.
The full study can be found here.
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