Research On Chinese Hedge Fund Manager’s Undergraduate School And Fund Performance

In a one-hundred year strategy of a nation,education is the most important basic.From the imperial examination system to the college entrance examination system,education affects every person imperceptibly.Based on the Ministry of Education’s program for the construction of "985 projects" and "211 projects" colleges,this paper takes the hedge fund products between April 16,2010 and June 30,2017 as samples,through the six major domestic hedge fund databases and the public data from the fund industry association,take the fund managers’ graduate school as research objects,multiple linear regression is the research method.From raw return,alpha return,risk and sharpe ratio four aspects,empirically examines the relationship between hedge fund manager’s undergraduate school and fund performance.The research shows that the fund managers who graduated from Tsinghua University,Peking University,Fudan University and Shanghai Jiao Tong University were obviously better performed than those who were gratuated form other colleges,and this advantage is more pronounced in the equity long strategy and stock long and short strategy.Their outperformance is pronounced during bull-market and bear-market.This article enriches the literature of the personal characteristics of hedge fund managers and fund performance relations,and provides ideas on studying hedge fund performance from educational experiences.At the same time,the results of this paper also provide a reference for investors to choose hedge fund products.