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Mutual fund flows and window-dressing
The Quarterly Review of Economics and Finance, 2013Abstract We use a sequential game to analyze an agency problem in the mutual fund industry where a representative fund manager considers window-dressing his portfolio holdings for the purpose of attracting fund flows from a representative investor. The manager is motivated to window-dress to improve the investor's perception of managerial skill which
Ling, Leng, Arias, J. J.
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Advertising and mutual fund asset flows
International Journal of Bank Marketing, 2007Purpose The paper aims to examine the effect of advertising on mutual fund cash flows in the Finnish fund market. Design/methodology/approach The paper's unique data set allows the observation of the effects of monetary advertising ...
Timo Korkeamaki +2 more
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Mutual fund portfolio trading and investor flow
Journal of Banking & Finance, 2007Abstract I estimate the extent to which mutual fund portfolio trading of securities is triggered by investor flows into and out of the funds, and find that this liquidity-induced portfolio trading activity is smaller than previously estimated by Edelen (1999) .
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Mutual fund recommendations on fund flows and returns
2023Using Thailand open-end mutual fund samples from 2017 to 2019, this study examines the impact of analysts’ recommendations on mutual fund flow and return. We decide to use the analysts’ recommendation from two big management companies in Thailand who publicly released their analysts’ recommendation in weekly periods, SCBAM and KAsset.
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Returns and Fund Flows in Canadian Mutual Funds
2007With nearly $440bn in assets and 51 million account holders by the end of the year 2003 in Canada, mutual funds now occupy a prominent position among financial intermediaries. The 1990s witnessed an explosive growth in mutual funds in Canada; the number of accounts grew nearly tenfold during this period.
Rajeeva Sinha, Vijay Jog
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Inflation and equity mutual fund flows
Journal of Financial Markets, 2018Abstract We document a negative relation between inflation and aggregate equity mutual fund flows and hypothesize that this relation is partly due to inflation illusion on the part of investors. Inflation illusion occurs when investors fail to incorporate the effect of inflation into their estimates of nominal growth rates.
Srinivasan Krishnamurthy +2 more
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Mutual Fund Flows and Investor Sentiment
SSRN Electronic Journal, 2016I show that the shape of flow–performance relationship among open-end funds varies with investor sentiment. This link is stronger when the market tone is optimistic. Cross-sectional comparison reveals that the convexity of the relationship is more pronounced among funds of the type that receives less demand; especially among risky funds in low-investor-
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Information Flows in Mutual Fund Families
SSRN Electronic Journal, 2012Using a dataset of managers in fund families that offer affiliated funds of mutual funds (AFoMFs), I explore information flows in mutual fund families. I first show that AFoMFs allocate more capital to socially connected funds in the family. I then provide evidence that this investment behavior is information-driven.
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Directors’ Ownership and Mutual Fund Flows
SSRN Electronic Journal, 2011Using hand-collected data around the first-time disclosure of directors’ ownership in U.S. mutual funds in 2002 as mandated by the SEC, I provide empirical evidence that investors value such ownership as a commitment to diligent monitoring. Flows into individual mutual funds following the disclosure are positively related to directors’ ownership, and ...
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