%0 Journal Article %A Greg N. Gregoriou %A Fabrice Rouah %A Komlan Sedzro %T On the Market Timing of Hedge Fund Managers %D 2002 %R 10.3905/jwm.2002.320431 %J The Journal of Wealth Management %P 26-38 %V 5 %N 1 %X In this article, the authors evaluate whether directional hedge fund managers benefit from market timing in investment strategies. Analysis of a sample of current and defunct onshore and offshore funds does not reveal any significant market-timing alpha. Most hedge fund managers exhibit good security selection skill, which tends to be negatively correlated with market-timing ability, but not correlated with asset size or age of the fund. Tests of single- and multi-index models are consistent with published findings in the mutual fund literature that the hedge fund returns exhibit low correlation with market index returns. %U https://jwm.pm-research.com/content/iijwealthmgmt/5/1/26.full.pdf