Can you provide a consistent explanation for them

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Reference no: EM131305030

Consider the following facts about hedge funds:

1. "[The] share of industry assets held by firms with more than $1 billion under management has risen gradually from about 75 percent in 2006 to about 82 percent at the start of this year . . . ."

2. "Yet research . . . suggests that older and larger [funds] tend to deliver lower absolute returns than smaller and younger ones."

3. "[Large] funds . . . fare less badly than [their] smaller brethren in the crisis year of 2008."

a. What is a hedge fund?

b. Are these three facts contradictory, or can you provide a consistent explanation for them?

Reference no: EM131305030

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