# kaal:claim:2811729-006

**Claim.** The emergence of unconstrained mutual funds is driven by market forces: post-crisis structural and regulatory changes to the capital markets, a low interest rate environment, and the growth of private funds together created and then increased retail demand for alternative mutual funds.

**Type.** mechanism  **Support.** argued

**Holds when.**

- United States capital markets after the 2007 to 2008 financial crisis
- sustained low interest rate conditions

**Source quote.**

> Structural and regulatory changes to the capital markets precipitated by the financial crisis of 2007–2008 and a low interest-rate environment, in combination with the enormous growth of private funds, created, and over time increased, the demand17 for retail "alternative" mutual funds.

**From.** Wulf A. Kaal, *Unconstrained Mutual Funds and Retail Investor Protection* (2016), I. Introduction, page 7

**Cite as.** Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729

**Verify.** sha256 of source PDF `0877b0a076f2614559cb0b1a736f73401cecbee7cfe014da6e36709208e92a74` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Anderson%20-%202016%20-%20Unconstrained%20Mutual%20Funds%20and%20Retail%20Investor%20Protection.pdf

**Topics.** defi, private-funds, economics

**Keywords.** reach-for-yield, low-interest-rates, financial-crisis, alternative-mutual-funds, market-demand

**Related claims.**

- supports: https://wulfkaal.github.io/claims/2715083-008
- extends: https://wulfkaal.github.io/claims/2715083-018

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.