This article provides a broad treatment of transparency and the specific normative data and information that are essential to make transparency effective for meeting the normative needs of shareholders. The template offered here is a tool for providing transparency in normative mutual fund...

In spite of tall claims that Hedge Funds have been demystified, the fact remains a big segment of the investment community is not aware of the risk return permutations that this asset class has to offer. Hedge fund is not a new terminology for those tracking Indian Capital market at least for...

This paper uses a quasi-natural experiment to estimate the premium investors are willing to pay to hold money-like assets. The 2014 SEC reform of the money market fund (MMF) industry reduced the money-likeness only of prime MMFs, by increasing the information sensitivity of their shares, and...

Against the backdrop of COVID-19, we study how the interactions of mutual funds and dealers introduce fragility to the municipal bond market and carry lasting impacts. During the crisis, trading activities surge while dealers' liquidity provision plunges for mutual-fund-held bonds, leading to...

The growth of the hedge fund industry and the proliferation of retail alternative funds in combination with the fundamental reshaping of the regulatory landscape for the hedge fund industry suggest that mutual funds are becoming more like hedge funds as a matter of investment strategy while...

Historical VaR, CVaR and ES (Expected Shortfall) to LIQUIDATION Software is a model characterized by its straightforwardness, allowing regulators measure risk using a standard database of primitive factors and portfolio positions only, leaving little error margin in comparing market risk for...

Title IV of the Dodd-Frank Act introduced the most significant regulatory change in the history of the private fund industry. To analyze the effect of Title IV on the private fund industry, we use five years of private fund performance data with over 7,000 reporting private funds. Our findings...

Title IV of the Dodd-Frank Act requires the Securities and Exchange Commission (SEC) to collect sensitive proprietary information from private fund advisers. Prior studies suggest that the SEC's mandated collection of private fund data in Form PF created several core challenges for the private...

The purpose of this study is to discuss research that identifies heterogeneous mutual fund and investor attributes and relations that explain dispersion in fund fees. One might think there is a short list of attributes and relations, such as high versus low expense ratios, that tells the full...