Mutual fund risk-taking via active portfolio rebalancing varies both in the crosssection and over time. In this paper …, I show that the same is true for funds' off- balance sheet risk-taking, even after controlling for on-balance sheet … information. In the empirical application, I show that German equity funds have increased their risk-taking via synthetic leverage …

Mutual fund risk-taking via active portfolio rebalancing varies both in the cross-section and over time. In this paper …, I show that the same is true for funds' off- balance sheet risk-taking, even after controlling for on-balance sheet … information. In the empirical application, I show that German equity funds have increased their risk-taking via synthetic leverage …

benchmarks use the lower partial moment as a risk measure. The lower partial moment, however, doesn’t entirely describe the panic …

Any fund sponsor, questioned about the relative importance of risk and return, will tell you, "They're equally … significant resources to develop comprehensive risk management systems. For most plans, however, the world of risk is intimidating …, murky, and, in most cases, avoided.This risk avoidance requires rectification. All funds, regardless of size, need to …

theoretical propositions, and with risk continuously increasing, the continuum of assets available to funds managers is … U-shaped return distribution are clear evidence for dichotomy of ability from risk tolerance …

We study whether mutual funds systematically manage downside risk of their portfolios in ways that improve their … performance. We find that actively managed mutual funds on average possess positive downside risk timing ability. Funds investing … in large-cap and value stocks have stronger downside risk timing skills. Managers adjust funds' downside risk exposure in …