Title :

Comparing performance sensitivity of retail and institutional mutual funds’ investment flows

Author(s) :

Mazur, Mieszko [Auteur]
Lille économie management - UMR 9221 [LEM]
Salganik-Shoshan, Galla [Auteur]
Zagonov, Maxim [Auteur]

Journal title :

Finance Research Letters

Pages :

66-73

Publisher :

Elsevier

Publication date :

2017-08

ISSN :

1544-6123

English keyword(s) :

Flow-performance relationship
Institutional funds
Retail funds
Mutual fund flows
Performance evaluation

HAL domain(s) :

Sciences de l'Homme et Société/Gestion et management

English abstract : [en]

In this paper, we examine and compare the form of the flow-performance relationship for U.S. retail and institutional mutual funds. We provide evidence that the convex form of the flow-performance function documented by ...
Show more >In this paper, we examine and compare the form of the flow-performance relationship for U.S. retail and institutional mutual funds. We provide evidence that the convex form of the flow-performance function documented by previous research characterizes mostly the relationship in the upper region of the performance scale. In contrast, the flow-performance relationship for the low-performance region appears to be concave. Furthermore, we document that the observed convexity is more pronounced for retail funds, while the concavity can be mainly attributed to institutional funds.Show less >

Language :

Anglais

Popular science :

Non

Collections :

• Lille Économie Management (LEM) - UMR 9221

Source :

Harvested from HAL