PT - JOURNAL ARTICLE AU - David McCarthy TI - Hedge Funds versus Hedged Mutual Funds: <em>An Examination of Equity Long/Short Funds</em> AID - 10.3905/jai.2013.16.3.006 DP - 2013 Dec 31 TA - The Journal of Alternative Investments PG - 6--24 VI - 16 IP - 3 4099 - https://pm-research.com/content/16/3/6.short 4100 - https://pm-research.com/content/16/3/6.full AB - This article offers comparative analyses of equity long/short mutual funds and equity long/short hedge funds and indices. It first identifies a universe of liquid alternative mutual funds employing an equity long/short investment strategy similar to most equity long/short private hedge funds. It then provides a general profile of these mutual funds (e.g., size, start dates, sponsorship) before comparing their equity exposure and investment performance to that of private placement equity long/short hedge funds and indices. Based on the data analyzed, the article concludes that, as a group, diversified single-manager equity long/short mutual funds offer similar equity exposures and do not perform materially differently from comparable private placement hedge funds, at least as represented by leading hedge fund indices.TOPICS: Real assets/alternative investments/private equity, mutual funds/passive investing/indexing, performance measurement