number of bond funds with: both positive gross-of-fee alpha and positive net-of-fee alpha performance; and also a reduction … in funds with negative-alpha performance. This result indicates that many US bond fund managers anticipated the … Quantitative Easing that followed the GFC, positioned their bond funds against their benchmarks accordingly and added value to …

We make use of a unique dataset of SEC Form N-SAR filings to examine the gross flows of U.S. bond funds. We find that …, we see that, like equity funds, bond fund investors chase returns. Most of the return chasing is done by inflows. Funds … nearly 0.6% in assets per month. Next, we find that positive net flows cause bond funds to diversify their holdings …

on mutual fund managers when bond prices drop, ex-post. Empirical evidence supports this hypothesis. Fund inflows to …

benchmark allocation - Barclays US Aggregate Bond Index. In the current low yield environment with flattening yield curves, we …