The main purpose of the study is to reveal how accurate Sharpe's style analysis model is in the context of the analysis of funds of hedge funds. Therefore, we analyse the influence of the three parameters of a style analysis model, which are defined by the user: the number of indices which are...

Portfolio selection has been in the focus of financial research for at least thirty years. With a hand-collected data set containing information about the portfolio structure of private and institutional investors our paper gives a brief literature review and sheds light on the home bias effect...

The currently observable flight of investors out of investment funds is counterintuitive even in a crisis situation, because they forego the benefits of the collective investment offered by the funds. In order to unveil the reasons for this development we analyze the internal governance...