FYI: Analysis of charitable giving by hedge fund managers suggests that managers of poorly performing hedge funds have a strategic reason for donating their personal wealth: staving off investor redemptions.
Hedge fund managers with bad returns were found to be nearly twice as likely to make a donation to charity in a study by finance professors Vikas Agarwal (Georgia State University), Yan Lu (University of Central Florida), and Sugata Ray (University of Alabama). Those suffering from low flows, meanwhile, were 50 percent more likely to give to charity.
Regards,
Ted
https://www.institutionalinvestor.com/article/b1c4v408f7cxmx/The-Real-Reason-Why-Some-Hedge-Fund-Managers-Give-to-Charity
