number of bond funds with: both positive gross-of-fee alpha and positive net-of-fee alpha performance; and also a reduction … in funds with negative-alpha performance. This result indicates that many US bond fund managers anticipated the … Quantitative Easing that followed the GFC, positioned their bond funds against their benchmarks accordingly and added value to …

This paper assesses liquidity risk for the United States (U.S.) bond mutual funds industry and performs a range of … contagion analysis using data on fund flows and returns shows that Investment Grade (IG) corporate bonds funds, municipal bond … funds and government bond funds are more likely to spread distress to other fund categories than HY, EM and loan funds. When …

We evaluate the performance of the US bond mutual fund industry using a comprehensive sample of bond funds over a long … time period from January 1998 to February 2017. In this one study, we examine bond fund selectivity, market timing and … performance persistence. We evaluate bond funds relative to their self-declared benchmarks and in terms of both gross …

Evidence is found of fully developed turbulence in the increments of U.S. bond fund flows. These flow increments are …