Despite common wisdom that equities and bonds are segmented, the organization structure of fund families can offset frictions regarding cross-asset segmentation. We find that actively-managed equity funds and corporate bond funds linked within a mutual fund family exhibit a significant...

Despite the conventional wisdom that the equity and bond markets are segmented, the organizational structure of mutual fund families facilitates information integration between shareholders and creditors, and thus offsets frictions that cause cross-asset segmentation. We find that actively...

Despite common wisdom that equities and bonds are segmented, the organization structure of fund families can offset frictions regarding cross-asset segmentation. We find that actively-managed equity funds and corporate bond funds linked within a mutual fund family exhibit a significant...

This paper examines the performance of mutual funds in Israel between 2003 and 2008. Almost all of the funds active during all or part of this period were examined. (The following funds were not included in the sample: money market funds, tracking funds, Israeli funds of funds, foreign funds of...

This article aims at testing empirically the performance persistence of fixed income arbitrage hedge funds. These funds engage principally in arbitrage strategies in the global corporate debt securities markets taking advantage of mispricing. Fixed income arbitrage funds take advantage of...

This chapter provides a perspective on the rapidly developing literature on investment performance evaluation. I use the stochastic discount factor approach to present and critique current performance measurement techniques in a unified setting. I offer a number of suggestions to improve...