Abstract We document that U.S. mutual funds with investment objectives designated as “Sustainable Investment Overall” by Morningstar (ESG funds) are more likely than other to vote in support of environmental and social (ES) shareholder proposals governance (G) proposals. also find the higher for ES ESG relative is pronounced index active funds, consistent trading constraints influencing voting ...

Mutual fund investors not only voluntarily engage professional investment managers, but also many willingly engage and pay professional brokers or advisors. Compared with direct distribution, brokered distribution is labor-intensive and consequently more costly to consumers. Presumably, consumers must perceive that they receive incremental benefits from using a broker. In this paper, we analyze...

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We study intentional herding in investment styles by mutual funds, and its consequences. find that style is significant persistent. Herding tends to increase after periods of high market volatility decrease with sentiment, consistent the character herding. Furthermore, we related changes dynamics. Finally, certain temporarily funds’ performance, whereas it reduces flows. Overall, results illust...

Steven Cohen, MD Consultant with Allergan; Consultant with Galderma; investigator, FDA study with Cytori; Speaker with Cytori; Consultant with Cytori; Advisor with Cytori; Shareholder (excluding diversified mutual funds) with Cytori; Research Support Recipient from Cytori; Speaker with Tulip; Consultant with Tulip; none with Tulip; Consultant with Suneva; Research Support Recipient from Suneva;...

FII is an investor or investment fund that is from or registered in a country outside of the one in which it is currently investing. Institutional investors include hedge funds, insurance companies, pension funds and mutual funds. This study intends to evaluate the trends and patterns of FII inflows into India. It also studies the relationship between the selected macroeconomic variables and th...

* The authors thank Russ Wermers for conversations related to performance persistence. The authors will not enter into any correspondence with members of the public concerning this report.