Recently many mutual funds have created hedge fund-like products for marketing to retail investors. This study empirically examines the value added for investors during the 2007 financial crisis from hedge fund-like mutual funds, including 130/30, market neutral, and long/short equity funds. We...

This paper examines the relation between portfolio concentration and investment performance in corporate bond mutual funds. Using detailed holdings data, we construct portfolio concentration measures at the firm, industry, and credit rating levels. We find that portfolio concentration is...