This is the first study of corporate-bond mutual fund performance that examines detailedsecurity-level holdings and …

We present evidence of the impact of buy-side analysts on the behavior and performanceof fund managers. Using data … provided by a large global asset manager,we relate buy-side analysts’ recommendations to fund transactions on a daily basis ….Our results show that buy-side analysts have a significant influence on tradingdecisions: Fund managers almost certainly follow …

We study whether fund families efficiently allocate their fund managers to differentmarket segments. Whether a fund … isemployed. We show that in the more efficient investment grade bond fund marketsegment, fund managers cannot translate higher … skill into higher fund alpha. Incontrast, skilled managers can generate higher alpha in the less efficient high yieldbond …

This paper develops a new approach that controls for commonalities in actively managedinvestment fund returns when … for each individual fund within thatgroup. We demonstrate that this model substantially reduces the correlation between … fundresiduals from standard models used for equity and fixed-income funds, and improves theestimates of fund α’s and β’s from …

. As a practical example, the professional competition between fund managers is considered. To explore how different … evolutionary model is developed. Using a simple genetic algorithm, two attributes of virtual fund managers evolve: the share of …