# kaal:claim:2811729-022

**Claim.** Unconstrained mutual funds exceed typical mutual fund trading engagements in almost all quantifiable categories, often by double or quadruple the average engagements for mutual funds as a group.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- N-SAR Question 70 filings, March 2016 for the 84 fund sample, compared with December 2015 SEC report data

**Source quote.**

> Figure 3 demonstrates that UMFs exceed the typical mutual fund engagements in almost all quantifiable categories. UMF trading of the referenced security and contract types clearly exceeds— indeed, is often double or quadruple the number of—the average engagements for mutual funds as a group.

**From.** Wulf A. Kaal, *Unconstrained Mutual Funds and Retail Investor Protection* (2016), IV.A. UMF v. Mutual Fund Characteristics, page 37

**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.** empirical-evidence

**Keywords.** n-sar, trading-practices, empirical-data, derivatives

**Related claims.**

- supports: https://wulfkaal.github.io/claims/2715083-009

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