WebPast returns tell less about the future performance of funds which discard, so flows are less sensitive to them when they are poor. Our model predicts that strategy changes only … Web1 feb. 2003 · Investors consider past fund performance as the most important factor in fund selection decision [see Capon et al. (1994) andWilcox (2003)], even though past …
Is the flow-performance relationship really convex? - The impact of ...
Web15 jun. 2024 · Abstract. We explore the properties of equity mutual funds that experience a loss of assets after poor performance. We document that both inflows and outflows are … Web15 sep. 2014 · How Investors Interpret Past Fund Returns A. Lynch, David K. Musto Economics 2000 The literature documents a convex relation between past returns and fund flows of mutual funds. We show this to be consistent with fund incentives, because funds discard exactly those strategies… 418 PDF Costly Search and Mutual Fund … can i forward a wetransfer link
How Investors Interpret Past Fund Returns - papers.ssrn.com
Web1 mrt. 2012 · How Investors Interpret Past Fund Returns A. Lynch, David K. Musto Economics 2000 The literature documents a convex relation between past returns and fund flows of mutual funds. We show this to be consistent with fund incentives, because funds discard exactly those strategies… 418 PDF Web1 nov. 2015 · Investors can conduct a similar analysis to identify which funds in their portfolios contribute the most to their returns and why. For example, separating leverage … WebPast returns contain less information about the future performance of funds which change strategies, so fund flows are less sensitive to past returns when past returns are lower. … fit text to shape canva