The performance and fund flows of name-change funds

Ofer Arbaa and Eva Varon

Journal of Behavioral and Experimental Finance, 2019, vol. 22, issue C, 7-13

Abstract: We study 94 equity mutual funds in Israel that change their names 228 times between January 2004 and July 2014. Funds that change their names do not show superior performance in the post-name change period but attract significantly more money flows than a group of control funds. However, funds that frequently change name seem unable to attract additional cash flows relative to funds without name change. Therefore, there is no performance related signaling in the name change and investors eventually lose confidence in the name-change fund. Moreover, flow–performance curve is more convex for name-change funds, similar to advertised mutual funds.

Keywords: Name change; Performance; Mutual fund flows; Convexity (search for similar items in EconPapers)
JEL-codes: G11 G12 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:beexfi:v:22:y:2019:i:c:p:7-13

DOI: 10.1016/j.jbef.2019.01.003

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