RT Journal Article
SR Electronic
T1 Mutual Funds Win and Investors Lose
JF The Journal of Index Investing
FD Institutional Investor Journals
SP 31
OP 40
DO 10.3905/jii.2013.3.4.031
VO 3
IS 4
A1 John A. Haslem
YR 2013
UL https://pm-research.com/content/3/4/31.abstract
AB This study examines the question of why investors continue to buy underperforming actively managed mutual funds. Four approaches to this question are discussed: 1) investor overconfidence; 2) strategic fund repricing decisions; 3) fund “sentiment contrarian behavior;” and 4) investor dependence on brokers with agency-conflicted incentives.TOPICS: Mutual fund performance, style investing, manager selection