The confluence trends identified are correlational, not causal: the author expressly disclaims any claim of cause and effect and presents the peripheral effects as long term possibilities warranting monitoring.
Source quote, verbatim
The emerging process of confluence of mutual and hedge funds can have unexpected peripheral effects that may themselves reinforce confluence of the two asset classes. I do not claim cause and effect in this context.
Kaal, Confluence of Mutual and Private Funds (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2715083
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scope limitation stated by the author for the entire implications analysis
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definitionalsupport: assertedresearch-methods
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