scholarly journals Explaining Differences in the Flow-Performance Sensitivity of Retail and Institutional Mutual Funds—International Evidence

2019 ◽  
Vol 09 (07) ◽  
pp. 2711-2731
Author(s):  
Antonio F. Miguel ◽  
Dan Su
Keyword(s):  
Mutual Funds ◽  
International Evidence ◽  
Performance Sensitivity

scholarly journals Investor Attrition and Fund Flows in Mutual Funds

2017 ◽  
Vol 52 (3) ◽  
pp. 867-893 ◽  
Author(s):  
Susan E. K. Christoffersen ◽  
Haoyu Xu
Keyword(s):  
Mutual Funds ◽  
Poor Performance ◽  
Fund Flows ◽  
Performance Sensitivity ◽  
Equity Mutual Funds

We explore the properties of equity mutual funds that experience a loss of assets after poor performance. We document that both inflows and outflows are less sensitive to performance, because performance-sensitive investors leave or decide not to invest after bad performance. Consistent with the idea that attrition measures the sorting of performance-sensitive investors, we find that attrition has less of an impact on the fund’s flow–performance sensitivity for institutional funds where there is less dispersion in investor performance sensitivity. Also, attrition has no effect on the flow–performance sensitivity when attrition arises after good performance or investors invest for nonperformance reasons.

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

2017 ◽  
Vol 22 ◽  
pp. 66-73 ◽  
Author(s):  
Mieszko Mazur ◽  
Galla Salganik-Shoshan ◽  
Maxim Zagonov
Keyword(s):  
Mutual Funds ◽  
Performance Sensitivity
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