kaal:claim:2811729-009

Average unconstrained mutual fund performance over the three years preceding the study was lower than the return on the ten-year Treasury, and poor performance was often accompanied by high fees and increased credit risk.

Source quote, verbatim
On average, UMF performance has disappointed over the last three years, with returns lower than the return on the ten-year Treasury.43 Often, poor UMF performance has been accompanied by high fees and increased credit risk.
From

Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016), II. Unconstrained Mutual Funds, p. 12
https://ssrn.com/abstract=2811729 · source PDF

Cite as

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

Holds when
Classification

empiricalsupport: evidencedfailure: High fees paired with underperformancefamily: agency-cost-and-managerial-opportunismrisk-and-incentivesprivate-funds

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