Advisory firm paths to side-by-side management and mutual fund performance

Jongwan Bae, Timothy Haight, Xin Kuang and Chengdong Yin

Journal of Empirical Finance, 2023, vol. 73, issue C, 1-21

Abstract: We examine whether the performance of mutual funds under side-by-side (SBS) management with hedge funds is affected by an adviser’s path to SBS management. When advisers start with mutual funds and follow the MFtoSBS path, their mutual funds tend to perform similarly to funds without SBS advisers. By contrast, when advisers start with hedge funds and follow the HFtoSBS path, their mutual funds outperform funds without SBS advisers, though outperformance is not observed when SBS management is conducted at the portfolio manager level. Additional analyses link our path results to managerial compensation, talent retention, and managerial experience.

Keywords: Investment adviser; Mutual funds; Side-by-side management; Performance; Compensation (search for similar items in EconPapers)
JEL-codes: G20 G23 G29 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0927539823000464
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:empfin:v:73:y:2023:i:c:p:1-21

DOI: 10.1016/j.jempfin.2023.05.002

Access Statistics for this article

Journal of Empirical Finance is currently edited by R. T. Baillie, F. C. Palm, Th. J. Vermaelen and C. C. P. Wolff

More articles in Journal of Empirical Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().