This study investigates the motivation and performance consequence of intentional style drift in an exclusively in-house fund management industry in China. With style drift, fund investors are exposed to investment portfolio outside their risk-return preference but are generally unaware that...

Fund managers' style drift behaviour alters fund risks and may have an impact on fund performance that is detrimental to fund investor's interest. This paper is a first study on the existence and effects of style drift in the fast growing fund management industry in China. It provides a...