The paper explores whether the co-movement of market returns and equity fund flows can be explained by a common response to macroeconomic news. I find that variables that predict the real economy as well as the equity premium are related to mutual fund flows. Changes in dividend-price ratio...

The 52-week high share price has been shown by George and Hwang (2004) to carry significant predictive ability for individual stock returns, dominating other common momentum-based trading strategies. This study examines the performance of trading strategies for mutual funds based on (1) an...

The purpose of this paper is to determine if, using historical data, it would have been possible to use a buy-and-hold strategy from January 1, 1995 through December 31, 2003 that resulted in a selection of funds that consistently outperformed other mutual funds. This study attempts to address...