# Professors Stephen Brown discusses investing in hedge funds

1 Faculty News July 29, 2015 ![Australian Banking & Finance logo](/sites/default/files/styles/246w/public/assets/images/ab-f-logo.jpg?itok=gQRE3ela)>

Excerpt from [Australian Banking & Finance](http://www.australianbankingfinance.com/wealth/asic-wrong-about-hedge-funds--academic/) -- "'Although the hedge funds' big selling feature was that was that their strategies were uncorrelated with the market, the truth is their risk profile is half that of the S&P500 so hedge fund managers have underperformed.' So systemic risk is not a issue with hedge funds, [Brown](http://www.stern.nyu.edu/faculty/bio/stephen-brown) concluded."

[Read more](http://www.australianbankingfinance.com/wealth/asic-wrong-about-hedge-funds--academic/)