Italian Open End Mutual Fund Costs
We investigate the costs investors incur when they hold shares of Italian open end mutual funds. The overall explicit cost can range from less than 50 to well over 250 basis points in terms of assets under management. Nevertheless, mutual funds investors
Del Giudice, Alfonso, Anolli, Mario
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Do Hedge Funds Profit From Mutual-Fund Distress? [PDF]
This paper explores the question of whether hedge funds engage in front-running strategies that exploit the predictable trades of others. One potential opportunity for front-running arises when distressed mutual funds -- those suffering large outflows of
Joseph Chen +3 more
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Mutual fund flows’ performance reaction: does convexity apply to small markets? [PDF]
In this paper we study the performance reaction of investors in a small market context. Instead of the asymmetrical investors’ reaction to winners and losers, as usually documented for the US, an absence of risk-adjusted performance reaction was observed.
Carlos F. Alves, Victor Mendes
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Mutual Fund Performance and the Incentive to Generate Alpha [PDF]
Financial economists have long been puzzled by investor demand for actively managed funds that generate, on average, negative after-fee, risk-adjusted returns.
Diane Del Guercio, Jonathan Reuter
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On the Perils of Security Pricing by Financial Intermediaries: The Case of Open-End Mutual Funds [PDF]
There are many instances where financial claims trade at prices set by intermediaries. Pricing by an intermediary introduces the potential for economic distortions from innumerable sources.
John M.R. Chalmers +2 more
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Consumer reaction on tumbling funds - Evidence from retail fund outflows during the financial crisis 2007/2008 [PDF]
Contrary to the findings reported in some of the extant literature, our study indicates that over the past few years a change in investors’ behavior patterns means that investment decisions are made at short notice, and that shares are redeemed in a ...
Daniel Schmidt, Frank Schmielewski
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On the Behavior of Mutual Fund Investors and Managers.
: This thesis investigates empirically and theoretically the behavior of mutual fund investors and managers. These two aspects are closely related to each other.
Goriaev, A.P.
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Product Differentiation, Search Costs, and Competition in the Mutual Fund Industry: A Case Study of the S&P 500 Index Funds [PDF]
Two salient features of the competitive structure of the U.S. mutual fund industry are the large number of funds and the sizeable dispersion in the fees funds charge investors, even within narrow asset classes. Portfolio financial performance differences
Chad Syverson, Ali Hortacsu
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Risk-taking responses to crash experience: Evidence from China. [PDF]
PLoS OneFang Z, Xu H, Mu Y.
europepmc +1 more source
Decomposing the Persistence of International Equity Flows [PDF]
The portfolio flows of institutional investors are widely known to be persistent. What is less well known, however, is the source of this persistence.
Kenneth A. Froot, Jessica D. Tjornhom
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