Search Funds - 2011: Selected Observations
H. Irving Grousbeck, Arar Han, Sara Rosenthal. (2012)
Stanford GSB Case E-446, 20 pp
Catalogue page opened; the PDF is restricted ("available for download by current Stanford GSB students, faculty, and staff, as well as Stanford GSB alumni"), so sample size and method were not read. The catalogue abstract states: "the aggregate pre-tax internal rate of return of the search fund asset class through year-end 2011 is 34.4 percent. The aggregate pre-tax return on invested capital is 11.1x." The same two figures are repeated in IESE ST-336-E (p8) and the 11.1x in Stanford E-521 (p11).
Existence verified against the publisher's catalogue; content not read.
SourceVERIFIED (existence only)