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 "text": "Retail investors may be led to believe that unconstrained mutual funds are safe relative to other fixed income mutual funds precisely because they are marketed, offered, and regulated as mutual funds, a risk that is unique to retail investors in these funds.",
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 "citation": "Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729",
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 "abstract": "Retail investors may also be led to believe that UMFs are \"safe\" products relative to other fixed income mutual funds, because they are marketed, offered, and regulated as mutual funds. This is a risk that is unique to retail investors in UMFs.",
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