# kaal:claim:2811729-023

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

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

**Holds when.**

- Morningstar turnover data as of March 2016
- comparison against all taxable bond funds, N equals 5543

**Source quote.**

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

**From.** Wulf A. Kaal, *Unconstrained Mutual Funds and Retail Investor Protection* (2016), IV.A. UMF v. Mutual Fund Characteristics, page 41

**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.** portfolio-turnover, morningstar, empirical-data, fixed-income

**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.