Arbeitspapier
Are there disadvantaged clienteles in mutual funds?
This paper studies the flow-performance relationship of three different investor groups in mutual funds: Households, financial corporations, and insurance companies and pension funds, establishing the following findings: Financial corporations have a strong tendency to chase past performance and also hold an increased share in the top performing funds. Insurance companies and pension funds show some evidence of performance chasing, but are underrepresented in the best performing funds. Households chase performance, but they are also subject to status quo bias in their flows. Regarding investor composition the worst performing funds show no significant difference in their investor structure when compared to funds with average performance.
- Sprache
-
Englisch
- Erschienen in
-
Series: CFR working paper ; No. 11-02
- Klassifikation
-
Wirtschaft
Portfolio Choice; Investment Decisions
Financial Institutions and Services: General
Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
- Thema
-
Mutual Funds
Flow-Performance Relationship
Clientele
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Jank, Stephan
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Cologne, Centre for Financial Research (CFR)
- (wo)
-
Cologne
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Jank, Stephan
- University of Cologne, Centre for Financial Research (CFR)
Entstanden
- 2011
Ähnliche Objekte (12)
Are there disadvantaged clienteles in mutual funds?
HPWS in the Public Sector: Are There Mutual Gains?
An Analysis of the Mutual Fund Industry: Mutual Fund Investors, Mutual Fund Managers and Mutual Fund Companies
An analysis of the mutual fund industry : mutual fund investors, mutual fund managers and mutual fund companies
Investing in mutual funds when returns are predictable
Mutual funds' cost persistence
Essays on Mutual Funds and Fund Managers
Three Essays on Mutual Funds
Crowding of international mutual funds
Tournaments in mutual fund families
Window dressing in mutual funds
Crowding of international mutual funds
Are there disadvantaged clienteles in mutual funds?
HPWS in the Public Sector: Are There Mutual Gains?
An Analysis of the Mutual Fund Industry: Mutual Fund Investors, Mutual Fund Managers and Mutual Fund Companies
An analysis of the mutual fund industry : mutual fund investors, mutual fund managers and mutual fund companies
Investing in mutual funds when returns are predictable
Mutual funds' cost persistence
Essays on Mutual Funds and Fund Managers
Three Essays on Mutual Funds
Crowding of international mutual funds
Tournaments in mutual fund families
Window dressing in mutual funds
Crowding of international mutual funds
Are there disadvantaged clienteles in mutual funds?
HPWS in the Public Sector: Are There Mutual Gains?
An Analysis of the Mutual Fund Industry: Mutual Fund Investors, Mutual Fund Managers and Mutual Fund Companies
An analysis of the mutual fund industry : mutual fund investors, mutual fund managers and mutual fund companies
Investing in mutual funds when returns are predictable
Mutual funds' cost persistence
Essays on Mutual Funds and Fund Managers
Three Essays on Mutual Funds
Crowding of international mutual funds
Tournaments in mutual fund families
Window dressing in mutual funds