{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/fixed-income",
 "identifier": "kaal:entity:fixed-income",
 "name": "Fixed income",
 "termCode": "fixed-income",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
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 "additionalProperty": [
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   "value": 3
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   "value": 3
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   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2016",
    "2025"
   ]
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 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2811729-023",
   "identifier": "kaal:claim:2811729-023",
   "text": "Average unconstrained mutual fund portfolio turnover exceeds the turnover of other fixed income mutual funds by over 150 percent.",
   "abstract": "In particular, UMF turnover on average exceeds the turnover for other fixed income mutual funds by over 150 percent.",
   "citation": "Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729",
   "datePublished": "2016",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "Morningstar turnover data as of March 2016",
    "comparison against all taxable bond funds, N equals 5543"
   ],
   "source_pdf_sha256": "0877b0a076f2614559cb0b1a736f73401cecbee7cfe014da6e36709208e92a74",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2998097-034",
   "identifier": "kaal:claim:2998097-034",
   "text": "Unconstrained mutual funds carry private fund style investment strategies inside the regulatory framework of a traditional mutual fund, and they are widely offered to retail investors who would otherwise be excluded from private fund investments.",
   "abstract": "UMFs are subject to the same regulatory framework as traditional mutual funds, and they are widely offered and available to retail investors who would otherwise be excluded from investments in private investment funds.",
   "citation": "Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097",
   "datePublished": "2017",
   "claim_type": "definitional",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "unconstrained mutual funds launched from 2010 through 2015"
   ],
   "source_pdf_sha256": "0955054f49c7011d33c285579bb046e6b284e42755b10fd2546a728c202669d5",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/5454054-013",
   "identifier": "kaal:claim:5454054-013",
   "text": "The total addressable market for LER exceeds $1 trillion, driven by the great reallocation of capital out of underperforming fixed income into equities and DeFi.",
   "abstract": "Based on available market analyses, the TAM for LER exceeds $1 trillion, because of the \"great reallocation\" of capital from underperforming fixed-income assets to higher-yielding alternatives like equities and DeFi.",
   "citation": "Wulf A. Kaal, Liquid Equity Rewards (2025). SSRN: https://ssrn.com/abstract=5454054",
   "datePublished": "2025",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "based on available market analyses as of 2025"
   ],
   "source_pdf_sha256": "9f53a865e6f0e5424640779df8f9b50923cd7d05649301dd4cc727144749b6e6",
   "status": "current"
  }
 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'fixed-income'. Derived node: a roster, not an adjudicated definition."
}