Agarwal, Vikas; Ren, Honglin; Shen, Ke; Zhao, Haibei - 2021
Open-end mutual funds can use redemption in kind to satisfy investor redemptions by delivering securities instead of … cash. We find that funds that reserve their rightsto redeem in kind experience less redemption after poor performance …. Evidence from actual in-kind transactions reveals several unique mechanisms for redemption in kind to mitigate fund runs …