AIMA fires back with statistical rebuttal of ‘The Hedge Fund Mirage’


AIMA, the global hedge fund industry association, has published a detailed statistical rebuttal of ‘The Hedge Fund Mirage’ – a book written by former JP Morgan man Simon Lack that has attracted widespread coverage on account of its highly critical assessment of the industry’s performance and which AIMA describes as “a polemic”.

The paper, entitled “Methodological, mathematical and factual errors in ‘The Hedge Fund Mirage’”, was written in conjunction with AIMA’s Research Committee, which features leading academics and analysts.

“Many of us in the industry looked at the arguments in the book with initial interest, and then growing