Family status and mutual fund performance

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dc.contributor.author Clare, Andrew
dc.contributor.author O'Sullivan, Niall
dc.contributor.author Sherman, Meadhbh
dc.date.accessioned 2014-11-27T12:36:53Z
dc.date.available 2015-12-01T05:00:06Z
dc.date.issued 2014-06
dc.identifier.citation CLARE, A., O'SULLIVAN, N. & SHERMAN, M. 2014. Family status and mutual fund performance. Journal of Asset Management, 15, 163-175. http://dx.doi.org/10.1057/jam.2014.19 en
dc.identifier.startpage 163 en
dc.identifier.endpage 175 en
dc.identifier.issn 1470-8272
dc.identifier.uri http://hdl.handle.net/10468/1715
dc.identifier.doi 10.1057/jam.2014.19
dc.description.abstract Using a large and long sample of US and European mutual funds, we examine the impact that membership of a fund family has on performance. We test for strategic and competitive behaviours among family funds and whether this affects performance persistence and risk-taking. While we do not find evidence of stronger performance persistence among family funds versus non-family funds, we do find some significant differences in the future performance of portfolios of family and non-family funds formed on the basis of past performance. We find strong evidence that a fund/'s mid-year ranking within its family and within its sector affects its risk-taking over the remainder of the year. However, most interestingly, we find evidence to suggest differences in the ways in which the US and European fund management industries operate, although future microstructure research would be required to identify the industry practices and cultures that may be the source of these differences. en
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.publisher Palgrave Macmillan en
dc.rights This is a post-peer-review, pre-copyedit version of an article published in Journal of Asset Management. The definitive publisher-authenticated version CLARE, A., O'SULLIVAN, N. & SHERMAN, M. 2014. Family status and mutual fund performance. Journal of Asset Management, 15, 163-175 is available online at http://dx.doi.org/10.1057/jam.2014.19 en
dc.subject Fund family en
dc.subject Performance persistence and risk en
dc.title Family status and mutual fund performance en
dc.type Article (peer-reviewed) en
dc.internal.authorcontactother Niall O'Sullivan, Economics, University College Cork, Cork, Ireland. +353-21-490-3000 Email: niall.osullivan@ucc.ie en
dc.internal.availability Full text available en
dc.check.info Access to this article is restricted until 18 months after publication by the request of the publisher. en
dc.date.updated 2014-05-02T09:43:14Z
dc.description.version Accepted Version en
dc.internal.rssid 249311734
dc.description.status Peer reviewed en
dc.identifier.journaltitle Journal of Asset Management en
dc.internal.copyrightchecked No !!CORA!! AV permitted. Set Statement,. 18 month embargo. en
dc.internal.licenseacceptance Yes en
dc.internal.IRISemailaddress niall.osullivan@ucc.ie en


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