![\"\"](\"https:\/\/sites.uwasa.fi\/mfjuva\/wp-content\/blogs.dir\/4\/files\/sites\/231\/2026\/07\/download-blue-button-300x89.png\")
<\/a><\/p>\nLan T.P. Nguyen<\/strong>, Multimedia University, Malaysia<\/em><\/p>\n Malick O. Sy<\/strong>, Royal Melbourne Institute of Technology (RMIT), Australia<\/em><\/p>\n Cheng M. Yu<\/strong>, Universiti Tunku Abdul Rahman (UTAR), Malaysia<\/em><\/p>\n Sayed Hossain<\/strong>, Cedar Valley College, USA<\/em><\/p>\n Tan B. Chen<\/strong>,\u00a0Multimedia University, Malaysia<\/em><\/p>\n <\/p>\n This study aims to examine whether long\/short funds of hedge funds truly provide better diversification benefits to hedge fund investors as compared to efficient portfolios of long\/short hedge funds in North America, Europe, and Asia Pacific. Data of long\/short hedge funds and long\/short FOHFs are obtained from Eurekahedge databases from 1st January 2008 to 31st December 2016. Mean-variance optimization method is employed to construct efficient portfolios of 100 long\/short hedge funds with highest Sharpe ratios for each of the selected regions. To ensure the robustness of our findings, two rolling windows of observation are set up for a comparative analysis. This study concludes that most of the single-region focused long\/short FOHFs in the sample, did not outperform the constructed efficient portfolios of long\/short hedge funds investing in the same region. In fact, many long\/short FOHFs did not survive more than a period of six years as observed in this study.<\/p>\n <\/p>\n Funds of hedge funds; long\/short strategy; diversification; efficient portfolios; mean-variance method<\/p>\n <\/p>\n Nguyen, L. T. P., Sy, M. O., Yu, C. M., Hossain, S., & Chen, T. B. (2019). Are funds of hedge funds efficient? An empirical analysis for North American, Asia Pacific, and European long\/short funds of hedge funds. Multinational Finance Journal, 23<\/em>(1\/2), 37\u201364.<\/p>\n Nguyen, L.T.P., Sy, M.O., Yu, C.M., Hossain, S. and Chen, T.B., 2019. Are Funds of Hedge Funds Efficient? An Empirical Analysis for North American, Asia Pacific, and European Long\/Short Funds of Hedge Funds. Multinational Finance Journal<\/em>, 23(1\/2), pp.37\u201364.<\/p>\n","protected":false},"excerpt":{"rendered":" Are Funds of Hedge Funds Efficient? An Empirical Analysis for North American, Asia Pacific, and European Long\/Short Funds of Hedge Funds Multinational Finance Journal, 2019, vol. 23, no. 1\/2, pp. 37\u201364 Lan T.P. Nguyen, Multimedia University, Malaysia Malick O. Sy, Royal Melbourne Institute of Technology (RMIT), Australia Cheng M. Yu, Universiti Tunku Abdul Rahman (UTAR), […]<\/p>\n","protected":false},"author":621,"featured_media":0,"parent":221,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2540","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2540"}],"collection":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/users\/621"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/comments?post=2540"}],"version-history":[{"count":1,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2540\/revisions"}],"predecessor-version":[{"id":2541,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2540\/revisions\/2541"}],"up":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/221"}],"wp:attachment":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/media?parent=2540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Abstract:<\/strong><\/h3>\n
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