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The distribution strategies of mutual funds directly or indirectly affect both their growth and their revenues. The extent of resources dedicated by a fund to its distribution channel(s) is therefore an important strategic decision. For a sample of US diversified equity mutual funds in the...
Persistent link: https://www.econbiz.de/10013152774
diversification in some settings may be beneficial, in the case of assets with identical payouts, fee minimization is the only …
Persistent link: https://www.econbiz.de/10013005429
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...
Persistent link: https://www.econbiz.de/10013007640
We examine the dynamics of assets under management (AUM) and management fees at the portfolio manager level in the closed-end fund industry. We find that managers capitalize on good past performance and favorable investor perception about future performance, as reflected in fund premiums,...
Persistent link: https://www.econbiz.de/10011550404
We examine the dynamics of assets under management (AUM) and management fees at the portfolio manager level in the closed-end fund industry. We find that managers capitalize on good past performance and favorable investor perceptions about future performance, as reflected in fund premiums,...
Persistent link: https://www.econbiz.de/10013007812
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...
Persistent link: https://www.econbiz.de/10012904305
We present an experiment that investigates the effect of the fee structure and past returns on mutual fund choice. We find that subjects pay too little attention to the (periodic and small) operation expenses fee, but the more salient front-end load is used as a commitment device and leads to...
Persistent link: https://www.econbiz.de/10013037051
competitive advisory fees across their funds. Our findings suggest that the diversification of fund families' asset flows is an …
Persistent link: https://www.econbiz.de/10012890927
analyze the relation between systemic risk and portfolio diversification, highlighting the differences between heterogeneous … and homogeneous diversification. Diversification is generally accepted to be the main tool for reducing idiosyncratic or … portfolio-specific financial risk, but the homogeneous diversification produces also effects on systemic risk. The research …
Persistent link: https://www.econbiz.de/10014180183
strategies using a stochastic discount factor approach. Employing the same data, we then consider the diversification benefits of … diversification benefits. The higher is an investor's risk aversion, the more beneficial is diversification into hedge funds …
Persistent link: https://www.econbiz.de/10012849217