kaal:claim:2811729-017

The authors operationalize unconstrained status by binary coding eleven prospectus characteristics and treating a score of nine or better as unconstrained, producing a final study sample of 84 funds out of 114 funds identified in the Morningstar Nontraditional Bond index.

of purely unconstrained mutual funds (i.e., those which were the focus of this study) (N=84) included only those UMFs that scored a "9" or better out of a total of 114 funds identified in the Morningstar Nontraditional Bond index.

Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016), IV. Data, p. 33
https://ssrn.com/abstract=2811729 · source PDF

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

• Morningstar Nontraditional Bond index constituents
• most recent fund-level prospectuses as of the study

definitionalsupport: evidencedresearch-methodsopen-source-and-codesecurities-lawempirical-evidence

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