Academic study into hedge funds is becoming more and more
popular, but many think their research is marred by conflicts
One of the fastest growing areas of the hedge fund universe
is academic research. Hardly a day goes by without another
university jumping on the bandwagon. But are they saying
anything of value and is the research of primary benefit to
their corporate sponsors?
Just to illustrate how explosive the issue is, Professor
Stephen Brown found himself on the receiving end of the
industry's bile when he dared to criticize fund of hedge funds
fees at an executive training program. His dean of the Stern
School of Business at New York University subsequently received
an angry note from a fund of funds manager saying: "Brown is a
dangerous man and he must be stopped!"
At another conference in Arizona, Brown recounts how he was
attacked by a hedge fund...