Add to ORKGGlode (2011) shows, both theoretically and empirically, that U.S. equity mutual funds have a systematically better performance during periods of economic downturn and that investors are willing to pay higher fund fees for this recession insurance. In this paper, we test these hypotheses out-of-sample using international mutual fund data from 16 different countries. Surprisingly, we cannot confirm that mutual funds outperform during recessions and do not find that funds with high recession alphas can charge higher fees to investors. Hence, our study raises doubts about the validity of Glode (2011)'s model and looks for alternative explanations of mutual fund's state-specific performance and optimal fee-setting
As discussed in Gruber (1996), the dramatic growth of actively managed funds constitutes a major puz...
Abstract. We use a new data set to study the determinants of the performance of open–end actively ma...
This paper presents an overview of the european mutual fund industry and investigates mutual fund pe...
Glode (2011) shows, both theoretically and empirically, that U.S. equity mutual funds have a systema...
Using a sample of 2680 U.S. actively managed open-end mutual funds in the period from January 1977 t...
The world economy is suffering under the financial crisis. The mutual fund market, one of the most p...
We find that Australian mutual fund investors should avoid high fee funds as these funds generate re...
We find that Australian mutual fund investors should avoid high fee funds as these funds generate re...
This paper provides the first investigation about bond mutual fund performance during recession and ...
Throughout this thesis we have investigated the American and Norwegian mutual funds’ performance by ...
International audienceWhy do investors buy underperforming mutual funds? To address this issue, we d...
This paper provides the first investigation about bond mutual fund performance during recession and e...
We use a new data set to study the determinants of the performance of open–end actively managed equi...
We find that fund managers who began their careers during recessions produce superior returns. This ...
For a sample of global and international equity mutual funds, we test the proposition that managers ...
As discussed in Gruber (1996), the dramatic growth of actively managed funds constitutes a major puz...
Abstract. We use a new data set to study the determinants of the performance of open–end actively ma...
This paper presents an overview of the european mutual fund industry and investigates mutual fund pe...
Glode (2011) shows, both theoretically and empirically, that U.S. equity mutual funds have a systema...
Using a sample of 2680 U.S. actively managed open-end mutual funds in the period from January 1977 t...
The world economy is suffering under the financial crisis. The mutual fund market, one of the most p...
We find that Australian mutual fund investors should avoid high fee funds as these funds generate re...
We find that Australian mutual fund investors should avoid high fee funds as these funds generate re...
This paper provides the first investigation about bond mutual fund performance during recession and ...
Throughout this thesis we have investigated the American and Norwegian mutual funds’ performance by ...
International audienceWhy do investors buy underperforming mutual funds? To address this issue, we d...
This paper provides the first investigation about bond mutual fund performance during recession and e...
We use a new data set to study the determinants of the performance of open–end actively managed equi...
We find that fund managers who began their careers during recessions produce superior returns. This ...
For a sample of global and international equity mutual funds, we test the proposition that managers ...
As discussed in Gruber (1996), the dramatic growth of actively managed funds constitutes a major puz...
Abstract. We use a new data set to study the determinants of the performance of open–end actively ma...
This paper presents an overview of the european mutual fund industry and investigates mutual fund pe...