Cumming, Douglas J.; Monteiro, Pedro - 2023 - This Draft: January 31, 2023
This paper examines the causes and consequences of hedge fund investments in exchange traded funds (ETFs) using U ….S. data from 1998 to 2018. The data indicate that transient hedge funds and quasi-indexer hedge funds are substantially more … unexpected flow is more than twice as large for transient than quasi-indexer hedge funds. ETF investment is in general associated …