May 3, 2023 · The concern for relative performance pushes them to be more aggressive to keep up. On the other hand, funds with less risk-averse managers are ...
Jun 26, 2020 · N mutual funds compete for fund flows based on relative performance over their average returns, by choosing between an idiosyncratic and a common risky ...
Sep 12, 2022 · Because fund flows are based on relative performance, the optimal strategy for each fund depends on other funds' portfolio choices, and we ...
Oct 22, 2024 · In this paper, we develop a model of the market for equity mutual funds that captures three key characteristics of this market. First, there is ...
This article studies how fund managers' relative-performance concerns affect their investment strategies in bubble periods. The managers compete for flows ...
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Nov 1, 2020 · Abstract. In an Itô-diffusion market, two fund managers trade under relative performance concerns. For both the asset specialization and ...
Fund Managers' Competition for Investment Flows Based on Relative Performance. Journal of Optimization Theory and Applications, Vol. 198, No. 2 | 3 May 2023.
In an Ito-diffusion market, two fund managers trade under relative performance concerns. For both the asset specialization and diversification settings, ...
We analyse the equilibrium consequences of performance-based contracts for fund managers. Managerial remuneration is tied to a fund's absolute and relative ...
This induces asset managers to compete among each other over relative performance to attract money flows. The concern is that lower returns on safe assets might ...