kaal:claim:2811729-023

Average unconstrained mutual fund portfolio turnover exceeds the turnover of other fixed income mutual funds by over 150 percent.

In particular, UMF turnover on average exceeds the turnover for other fixed income mutual funds by over 150 percent.

Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016), IV.A. UMF v. Mutual Fund Characteristics, p. 41
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 turnover data as of March 2016
• comparison against all taxable bond funds, N equals 5543

empiricalsupport: evidencedempirical-evidence

• supports kaal:claim:2715083-009 Unconstrained mutual funds differ from traditional fixed income mutual funds not only in trading strategy, usi...

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