kaal:claim:2811729-026

Because unconstrained mutual funds share investment strategy and risk attributes with private funds, the average unconstrained fund's risk profile is substantially more complex and generally involves more risk than the average mutual fund, and is closer to that of a private fund.

Source quote, verbatim

Because of these shared investment strategy and risk attributes, the average UMF's risk profile is substantially more complex, and generally involves more risks, than the average mutual fund, and is rather more similar to that of a private fund.

From

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

Cite as

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

Holds when

comparison of the sample funds against average mutual funds and private funds

Classification

mechanismsupport: arguedrisk-and-incentivesprivate-funds

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