EconPapers    
Economics at your fingertips  
 

Comparing performance sensitivity of retail and institutional mutual funds’ investment flows

Mieszko Mazur, Galla Salganik-Shoshan and Maxim Zagonov

Finance Research Letters, 2017, vol. 22, issue C, 66-73

Abstract: In this paper, we examine and compare the form of the flow-performance relationship for U.S. retail and institutional mutual funds. We provide evidence that the convex form of the flow-performance function documented by previous research characterizes mostly the relationship in the upper region of the performance scale. In contrast, the flow-performance relationship for the low-performance region appears to be concave. Furthermore, we document that the observed convexity is more pronounced for retail funds, while the concavity can be mainly attributed to institutional funds.

Keywords: Flow-performance relationship; Institutional funds; Retail funds; Mutual fund flows; Performance evaluation (search for similar items in EconPapers)
JEL-codes: G02 G11 G23 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1544612316302161
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Comparing performance sensitivity of retail and institutional mutual funds’ investment flows (2017)
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:finlet:v:22:y:2017:i:c:p:66-73

DOI: 10.1016/j.frl.2016.12.031

Access Statistics for this article

Finance Research Letters is currently edited by R. Gençay

More articles in Finance Research Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

 
Page updated 2025-03-31
Handle: RePEc:eee:finlet:v:22:y:2017:i:c:p:66-73