1% in annualized four-factor alpha over the subsequent six-month horizon and, more importantly, stock selection timing … higher expense ratios and larger family size exhibit stronger timing skills …

This paper studies the level, determinants, and implications of the factor timing ability of hedge fund managers. We … find that approximately 30% of hedge funds display factor timing ability on at least one factor, concentrated especially at … the market, size, and bond factors. Better factor timing skills are related to funds that are more experienced and more …

I examine the market, volatility and joint timing performance of US equity funds (locals) versus UK equity funds … specialised in timing and thus better interpret the macroeconomic factors than local fund managers. Using parametric estimates, I … find evidence that UK funds have a statistically better timing ability than US funds. I use a nonparametric model to show …