We provide evidence on the performance and the replication success of a broad sample of 72 synthetic hedge funds from January 2009 to December 2013. Thereby, we assign the term 'synthetic hedge fund' to mutual funds and exchange-traded funds with hedge fund indices as their benchmarks....

This paper provides first evidence about fund characteristics, absolute as well as risk-adjusted performance of Special Situation Funds, consisting out of hedge funds and mutual funds. Beside considerable differences in the characteristics, we document for both categories of funds a significant...