“…Do et al (2010) and Baquero et al (2005) also document short-term hedge fund performance persistence. The recent literature also indicates that hedge fund characteristics such as fund flows, length of notice and the redemption period, inventive and closed-ended funds fees, are positively related to the probability of observing positive (i.e., winner) performance persistence (Ammann et al 2013;Aspadarec, 2021).…”