Diversification and Fund Performance-An Analysis of Buyout Funds

Huss, Matthias and Steger, Daniel. (2020) Diversification and Fund Performance-An Analysis of Buyout Funds. Journal of Risk and Financial Management, 13 (6). p. 136.

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Official URL: https://edoc.unibas.ch/80731/

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This paper studies the relationship between portfolio diversification and fund performance, based on an unexplored, hand-collected dataset of buyout funds. The dataset comprises detailed information at the level of portfolio companies, which allows measuring the concentration of the fund portfolios towards individual companies, industrial, and geographical focus. Our results suggest that diversification within, but not across industries, associates with higher buyout fund performance. We do not find a significant relationship between geographical diversification and performance. These results partly contradict results documented in prior literature.
Faculties and Departments:06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Finanzmarkttheorie (Zimmermann)
UniBasel Contributors:Huss, Matthias
Item Type:Article, refereed
Article Subtype:Research Article
Note:Publication type according to Uni Basel Research Database: Journal article
Last Modified:26 Jan 2021 13:42
Deposited On:26 Jan 2021 13:42

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