Side‐by‐side management of mutual funds and actively managed exchange traded funds
نویسندگان
چکیده
We document the recent rise in side-by-side (SBS) management of mutual funds and actively managed ETFs (AMETFs). Although these are run a SBS manner, only 21% share an investment objective code. This relationship is started by families with more ETF experience not used to reward “star” managers. On average, AMETFs perform similarly comparable after formation; however, their flows fall when pairs same objective. find evidence both substitution effect conflicts interest between funds, depending on contracting organizational structures.
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ژورنال
عنوان ژورنال: The Financial Review
سال: 2022
ISSN: ['1540-6288', '0732-8516']
DOI: https://doi.org/10.1111/fire.12299