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  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2739479-016",
   "identifier": "kaal:claim:2739479-016",
   "text": "The traditional distinction between mutual funds and private funds is dissipating: mutual funds are becoming more like hedge funds in investment strategy, while hedge funds are becoming more like mutual funds in regulatory framework.",
   "abstract": "Several factors suggest that mutual funds are becoming more like hedge funds as a matter of investment strategy, while hedge funds are becoming more like mutual funds as a matter of regulatory framework.",
   "citation": "Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479",
   "datePublished": "2016",
   "claim_type": "mechanism",
   "confidence": "argued",
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   "scope_conditions": [
    "United States asset management industry after the 2008 to 2009 credit crisis"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2811729-004",
   "identifier": "kaal:claim:2811729-004",
   "text": "Unconstrained mutual funds combine the regulatory structure of a mutual fund with the investment strategy of a private fund implementing a credit strategy and principally trading fixed income instruments, which lets them transcend traditional investment and legal distinctions.",
   "abstract": "by combining the regulatory structure of a mutual fund with the investment strategy of a private fund implementing a credit strategy and principally trading fixed income instruments.",
   "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",
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   "scope_conditions": [
    "credit-focused unconstrained funds registered under the Company Act"
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   "@type": "Claim",
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   "identifier": "kaal:claim:2811729-007",
   "text": "Post-crisis legislation accelerated the convergence of mutual funds and private funds, because the registration and increased disclosure requirements the Dodd-Frank Act imposed on certain private fund advisers subject them to substantively the same obligations that apply to advisers of mutual funds.",
   "abstract": "The registration and increased disclosure requirements for certain private fund advisers under the Dodd-Frank Act subject those managers to substantively the same registration and reporting obligations as those that apply to advisers to 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",
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   "is_failure_mode": false,
   "scope_conditions": [
    "private fund advisers required to register under the Dodd-Frank Act"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2811729-024",
   "identifier": "kaal:claim:2811729-024",
   "text": "The high turnover rate of unconstrained mutual funds distinguishes them from other mutual funds and makes them directly comparable to private funds, which typically trade at high levels.",
   "abstract": "The high UMF turnover rate is a characteristic that distinguishes these funds from other mutual funds, and makes them directly comparable to private funds, which typically engage in high trading levels",
   "citation": "Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729",
   "datePublished": "2016",
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    "comparison of unconstrained mutual funds with private funds on trading intensity"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2811729-026",
   "identifier": "kaal:claim:2811729-026",
   "text": "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.",
   "abstract": "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.",
   "citation": "Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729",
   "datePublished": "2016",
   "claim_type": "mechanism",
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   "is_failure_mode": false,
   "scope_conditions": [
    "comparison of the sample funds against average mutual funds and private funds"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2811729-035",
   "identifier": "kaal:claim:2811729-035",
   "text": "The proliferation of unconstrained mutual funds has contributed to the confluence of mutual and private funds and weakened the traditional public/private distinction in federal securities regulation.",
   "abstract": "The proliferation of UMFs has contributed to the confluence of mutual and private funds, and weakened the traditional public/private distinction in federal securities regulation.",
   "citation": "Wulf A. Kaal, Unconstrained Mutual Funds and Retail Investor Protection (2016). SSRN: https://ssrn.com/abstract=2811729",
   "datePublished": "2016",
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 "description": "6 claims in the published works of Wulf A. Kaal carry the concept tag 'fund-convergence'. Derived node: a roster, not an adjudicated definition."
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