; corporate bonds – -3.35 percent; non-bond (mostly share) funds – -3.62 percent. Such underperformance, which is statistically … – -0.69 percent; corporate bonds – -1.72 percent; non-bond (mainly share) funds – -1.00 percent. The underperformance …

We document significant outperformance by government bond funds on important macro announcement days such as FOMC and …

discrepancy causes alpha to deviate from the active bond selection performance it is supposed to measure. Performance ratings and …

This paper investigates whether bond fund managers with credit rating experience outperform their peers. We document … that bond fund managers who previously worked in credit rat- ing agencies on average create higher risk-adjusted returns …

This paper employs data on corporate bond mutual fund flows to investigate bond investments under low interest rates …. In response to the Fed’s lower interest rate policy, we find that investment-grade bond funds receive inflows, while high …-yield bond funds are not responsive. This result can not be explained by investors’ incentive to reach for yield, but by the …