This study compares the relations between asset flow and performance in the retail mutual
fund and fiduciary pension fund segments of the money management industry, and relate …

Purpose Management is sometimes challenged by investors to justify the financial benefits
of voluntary disclosure and transparency related to corporate social responsibility (CSR) …

Mutual fund managers should choose to increase their portfolio concentration when their
information set is valuable enough that the benefits of the expected increase in alpha more …

Funds under management by Danish mutual funds have increased by 25% annually during
the last 10 years and measured per capita Denmark has the third largest mutual fund …

Portfolio theory may be the most fecund intellectual export from quantitative finance to other
sciences. Social sciences outside the strictly financial domain have applied portfolio theory …

The transition towards a more sustainable financial market demands transparency and trust
from investors, objectives also pursued by the Sustainable Finance Disclosure Regulation …

The theoretical and empirical literature in finance has focused primarily on the standard
deviation of return as the appropriate measure of risk. Yet for asset managers whose …

Whether you are a pension plan sponsor rethinking investment objectives or conducting an
asset allocation study, an investor interested in evaluating asset-liability value-at-risk, or an …

In this paper we show that ex ante and ex post tracking errors must necessarily differ, since
portfolio weights are ex post stochastic in nature. In particular, ex post tracking error is …

We investigate the how and why of performance fee provisions in a free contracting
environment such as the Italian mutual fund market until 2006. We find weak support for the …