# kaal:claim:2811729-020

**Claim.** In the unprecedented low interest rate environment prevailing since 2005, investment managers responded to retail investors reaching for yield by offering unconstrained mutual funds, a product that authorizes absolute return strategies in the fixed income world.

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

**Holds when.**

- United States fixed income markets since 2005

**Source quote.**

> First, in the unprecedented low interest rate environment that has prevailed since 2005, investment managers have responded to retail investors "reaching for yield" by offering a product (UMFs) that authorizes absolute return strategies in the fixed income world.

**From.** Wulf A. Kaal, *Unconstrained Mutual Funds and Retail Investor Protection* (2016), IV. Data, page 35

**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, innovation

**Keywords.** reach-for-yield, low-interest-rates, absolute-return, product-innovation

**Related claims.**

- extends: https://wulfkaal.github.io/claims/2470008-009

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