Mutual Funds
Do Fund Managers Suffer from Familiarity Bias?
Does familiarity with the chief executive officer (CEO) of a company make you like the company more than you actually should? Do fund managers suffer from this bias? Authors Stefan Jaspersen and Peter Limbach discuss this in their paper, “Knowing Me, Knowing You? Similarity to the CEO and Fund Managers’ Investment Decisions”.
 
The researchers combine several data sources to obtain...
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Are Balanced Schemes Any Good?
We, often, come across advisors, distributors and mutual fund companies pushing balanced schemes. This is ostensibly done to reduce a bit of risk and get similar, or a bit lower, returns than diversified equity schemes. Balanced schemes invest in a mix of equity and debt. The debt part of the portfolio, supposedly, helps balance volatility. We have always been against such an idea. The...
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Complex Instruments Don’t Improve MF Returns: Study
Mutual funds are under constant pressure to generate higher returns than the market indices and it is under this pressure that the fund managers use complex instruments such as leverage, short sales and options. Paul Calluzzo, Fabio Moneta, and Selim Topaloglu, in a paper titled, “Use of Leverage, Short Sales, and Options by Mutual Funds”, discuss how these instruments impact the returns...
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