kaal:claim:2811729-012

Three features make it uniquely challenging for retail investors to evaluate the risks of unconstrained mutual funds: the lack of standard benchmarks, the recent emergence of the fund type, and the diversity and complexity of the strategies and risk exposures involved.

Source quote, verbatim
the lack of standard benchmarks for UMFs, the recent emergence of UMFs as an investment asset type, and the diversity among and complexity of UMFs' strategies and risk exposures make it uniquely challenging for retail investors to evaluate the risks of investing in UMF securities.
From

Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016), II. Unconstrained Mutual Funds, p. 13
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

failuresupport: arguedfailure: No comparative yardstickfamily: data-quality-and-comparabilityeconomicsrisk-and-incentives

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