Research conducted by SMU Professor of Finance and Associate Dean (Research) at the Lee Kong Chian School of Business Melvyn Teo and University of Florida’s Yan Lu and Sugata Ray found that both marriage and divorce are associated with deteriorations in fund risk-adjusted performance. The scholars examined data on 26,811 hedge funds between 1994 and 2012 to investigate the impact of managers marrying and divorcing on fund performance and strategy.