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http://hdl.handle.net/10419/44966
  

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dc.contributor.authorJank, Stephanen_US
dc.date.accessioned2011-03-16en_US
dc.date.accessioned2011-04-15T09:46:24Z-
dc.date.available2011-04-15T09:46:24Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/44966-
dc.description.abstractThis paper studies the flow-performance relationship of three different investor groups in mutual funds: Households, financial corporations, and insurance companies and pension funds, establishing the following findings: Financial corporations have a strong tendency to chase past performance and also hold an increased share in the top performing funds. Insurance companies and pension funds show some evidence of performance chasing, but are underrepresented in the best performing funds. Households chase performance, but they are also subject to status quo bias in their flows. Regarding investor composition the worst performing funds show no significant difference in their investor structure when compared to funds with average performance.en_US
dc.language.isoengen_US
dc.publisherCentre for Financial Research Cologneen_US
dc.relation.ispartofseriesCFR working paper 11-02en_US
dc.subject.jelG11en_US
dc.subject.jelG20en_US
dc.subject.jelG23en_US
dc.subject.ddc330en_US
dc.subject.keywordMutual Fundsen_US
dc.subject.keywordFlow-Performance Relationshipen_US
dc.subject.keywordClienteleen_US
dc.titleAre there disadvantaged clienteles in mutual funds?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn654200289en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:cfrwps:1102-
Appears in Collections:CFR Working Papers, Centre for Financial Research (CFR), Universität Köln

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