kaal:claim:2811729-025

Unconstrained mutual funds engaged in almost 50 percent more futures contract transactions than other mutual funds, and the overall scope and nature of their derivative use is consistent with what the authors would expect of a private fund.

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most importantly, futures contracts, where UMFs engaged in almost 50 percent more transactions than other mutual funds. These statistics reflect the scope and nature of derivative use by UMFs, and are consistent with what the authors would expect of derivative use by a private fund.
From

Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016), IV.A. UMF v. Mutual Fund Characteristics, p. 44
https://ssrn.com/abstract=2811729 · source PDF

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

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empiricalsupport: evidencedprivate-fundsempirical-evidence

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