Family competition via divergence in the trading of funds

Laura Andreu, Ruth Gimeno and Miguel Serrano

Finance Research Letters, 2023, vol. 52, issue C

Abstract: We examine the influence of managerial structures and characteristics on the level of trading divergence among fund families as well as their effects on the subsequent performance of those families. Fund families with fewer interactions between their funds and managers tend to diverge more in their trading decisions. We find a positive influence of this divergence on the performance of fund families not only in competitive but also in cooperative environments. This finding shows that if cooperation leads a fund family to make different trading decisions than their competitors, they have better results.

Keywords: Competition; Cooperation; Fund family; Managerial characteristics; Mutual funds; Performance consequences; Trading divergence (search for similar items in EconPapers)
JEL-codes: G11 G23 (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/S1544612322007243
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:finlet:v:52:y:2023:i:c:s1544612322007243

DOI: 10.1016/j.frl.2022.103548

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 ().