What do mutual fund managers’ private portfolios tell us about their skills?

Markus Ibert

Journal of Financial Intermediation, 2023, vol. 53, issue C

Abstract: I study a registry-based dataset of Swedish mutual fund managers’ personal portfolios. The majority of managers do not invest personal wealth into the very same funds they professionally manage. The managers who do invest personal money into their funds subsequently outperform the managers who do not. The results suggest that fund managers, in contrast to regular investors, are certain about their ability to generate an abnormal return, or lack thereof, and invest their personal wealth accordingly.

Keywords: Mutual fund performance; Fund manager skill; Fund manager ownership (search for similar items in EconPapers)
JEL-codes: G00 G11 G23 J44 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jfinin:v:53:y:2023:i:c:s1042957322000523

DOI: 10.1016/j.jfi.2022.100999

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