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 "name": "Alternative mutual funds",
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 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2715083-007",
   "identifier": "kaal:claim:2715083-007",
   "text": "Net assets of mutual funds using alternative strategies quadrupled between 2007 and 2014, a 27 percent annualized growth rate, while the number of such funds rose from 181 to 402.",
   "abstract": "The author's analysis of ICI data in Exhibit 1 suggests that net assets of mutual funds employing alternative strategies have quadrupled since 2007 (a 27% annualized growth rate). The number of funds offering investors alternative strategies has grown from 181 in 2007 to 402 in 2014",
   "citation": "Kaal, Confluence of Mutual and Private Funds (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2715083",
   "datePublished": "2016",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "Investment Company Institute data, 2007 to 2014",
    "author's own analysis presented in Exhibit 1"
   ],
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   "status": "current"
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   "@id": "https://wulfkaal.github.io/claims/2715083-008",
   "identifier": "kaal:claim:2715083-008",
   "text": "Growth in retail alternatives is expected to continue rather than plateau, with projections that 15.8 percent of all mutual fund assets under management will sit in alternative mutual funds by 2022, making it a multi-trillion dollar industry.",
   "abstract": "this growth is not expected to slow down, as JP Morgan/Strategic Insight estimate that by 2022, 15.8% of all mutual fund AUM will be tied up in alternative mutual funds, making it a multi-trillion dollar industry",
   "citation": "Kaal, Confluence of Mutual and Private Funds (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2715083",
   "datePublished": "2016",
   "claim_type": "predictive",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "JP Morgan and Strategic Insight projections",
    "horizon of 2022"
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   "@id": "https://wulfkaal.github.io/claims/2715083-017",
   "identifier": "kaal:claim:2715083-017",
   "text": "Alternative mutual funds generally cannot deliver the same absolute returns as hedge funds, a shortfall some attribute to the lighter touch regulation and better incentives available to hedge funds.",
   "abstract": "Alternative funds generally cannot generate the same absolute returns as hedge funds (Hasanhodzic & Lo (2007) and McCarthy (2015)), which is attributed by some to the lighter touch regulation and better incentives applicable to hedge funds.",
   "citation": "Kaal, Confluence of Mutual and Private Funds (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2715083",
   "datePublished": "2016",
   "claim_type": "failure",
   "confidence": "evidenced",
   "is_failure_mode": true,
   "scope_conditions": [
    "comparison of registered alternative funds with unregistered hedge funds"
   ],
   "source_pdf_sha256": "b5c92186260d4a8499a14f81ee24ace093b24e7740af3effcd1c526fa4fa221e",
   "status": "current"
  },
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2715083-040",
   "identifier": "kaal:claim:2715083-040",
   "text": "Proposed SEC Rule 18f-4 is a potential threat to the alternative mutual fund business model, because its risk based portfolio limit could undermine managers' ability to implement their investment strategies using derivatives.",
   "abstract": "Proposed SEC Rule 18f-461 constitutes a potential threat for the business model of the alternative mutual fund industry.",
   "citation": "Kaal, Confluence of Mutual and Private Funds (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2715083",
   "datePublished": "2016",
   "claim_type": "predictive",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "if proposed Rule 18f-4 is adopted as proposed",
    "alternative mutual funds relying on derivatives"
   ],
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   "status": "current"
  },
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2811729-006",
   "identifier": "kaal:claim:2811729-006",
   "text": "The emergence of unconstrained mutual funds is driven by market forces: post-crisis structural and regulatory changes to the capital markets, a low interest rate environment, and the growth of private funds together created and then increased retail demand for alternative mutual funds.",
   "abstract": "Structural and regulatory changes to the capital markets precipitated by the financial crisis of 2007–2008 and a low interest-rate environment, in combination with the enormous growth of private funds, created, and over time increased, the demand17 for retail \"alternative\" mutual funds.",
   "citation": "Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729",
   "datePublished": "2016",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "United States capital markets after the 2007 to 2008 financial crisis",
    "sustained low interest rate conditions"
   ],
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  }
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 "description": "5 claims in the published works of Wulf A. Kaal carry the concept tag 'alternative-mutual-funds'. Derived node: a roster, not an adjudicated definition."
}