Hedge Fund Clones are Still to Count on

Hopes were high some years ago that hedge fund replication products would be for hedge fund investments something akin to what index funds have been to equity investments. Hedge fund replication products were to provide a low-cost, liquid exposure to hedge fund returns. Around one year ago, Wallerstein, Tuchschmid, and Zaker (2010), analysed the performance of, at the time, the most exhaustive dataset of replication products. This article will bring a brief updated evaluation on an extended dataset with 22 hedge fund replication products