higher expenses and an unequal performance is achieved. However some level of persistence in the success of these bets is …This paper analyses the relationship between active management and performance in US equity mutual funds over the … period 2001-2011 for both gross and net returns. Mutual funds achieve nonzero abnormal performance through strategies that …

-advertising families. At the family level, flows have a convex relation with advertising expenditures, similar to that for performance … redemptions rather than increasing purchases of fund shares. We further find that advertising can affect the fund’s flow-performance …

This paper examines the performance of 358 European diversified equity mutual funds controlling for gender differences …. Fund performance is evaluated against funds' designated market indices and representative style portfolios. Consistently … with previous studies, no significant differences in performance and risk are found between female and male managed funds …

relative to single managers. During the financial crisis, however, the performance premium of teams becomes negative, which may …

alpha. Our approach improves out-of-sample portfolio performance and significantly alters asset allocation decisions …

adjusting for any risk). In the cross-section of funds, there is a substantial disconnect between lifetime performance and … incentive fees earned. These poor outcomes stem from the asymmetry of the performance contract, investors' return …

investor groups contribute to the negative performance externality from large outflows. Investment funds, as holders of mutual …-sophisticated ones, are the main receivers. These differences are due to investment funds reacting more strongly on past performance and …

The performance, and its characteristics, of Swedish-based equity and bond mutual funds are studied in detail … have a negative performance (before tax), and bond funds a clear underperformance. The performance is related to fund … specific characteristics such as netflows of new money into funds, past performance, expense measures, commissions paid by the …