Alternative funds gave retail investors access to hedge fund strategies and higher returns than traditional mutual funds while charging mutual fund fees, and that combination is what increased retail demand.
Source quote, verbatim
Alternative funds offered retail investors access to hedge fund strategies and higher returns than mutual funds while paying mutual fund fees, thus increasing demand by retail investors.
Kaal, Confluence of Mutual and Private Funds (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2715083
Holds when
retail investor segment in the early 2010s
Classification
mechanismsupport: arguedeconomics
Related claims
extended_bykaal:claim:2811729-006 The emergence of unconstrained mutual funds is driven by market forces: post-crisis structural and regulatory ...
Verify
The quote above is an exact substring of the source PDF, whose sha256 is b5c92186260d4a8499a14f81ee24ace093b24e7740af3effcd1c526fa4fa221e. Extraction method: pdf-text-layer. Attestation record: colloquium/attestations/2f478698f4b8fcb1...json Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/2715083-018.md | sha256sum