Hedge Fund Manager's Alma Mater Matters

Hedge fund investors seeking superior performance are well-advised to select younger, well-educated fund managers who are highly devoted to their jobs, says a University of Michigan business professor. According to a new study by Haitao Li, assistant professor of finance at the U-M's Ross School of Business, and colleagues Xiaoyan Zhang of Cornell University and Rui Zhao of Columbia University, the personal, educational and professional characteristics of fund managers greatly impact hedge fund returns.