Skip navigation
Full metadata record
DC FieldValueLanguage
dc.contributor.authorElton, Edwin J.-
dc.contributor.authorGruber, Martin J.-
dc.contributor.authorGreen, T. Clifton-
dc.date.accessioned2008-05-26T17:30:25Z-
dc.date.available2008-05-26T17:30:25Z-
dc.date.issued2004-05-
dc.identifier.urihttp://hdl.handle.net/2451/26521-
dc.description.abstractMany investors confine their mutual fund holdings to a single fund family, either for simplicity or through restrictions placed by their retirement savings plan. We find evidence that mutual fund returns are more closely correlated within fund families, which reduces the benefits of investor diversification. The increased correlation is due primarily to common stock holdings, but is also more generally related to families having similar exposures to economic sectors or industries. Fund families also show a propensity to focus on high risk or low risk strategies, which leads to a greater dispersion of risk across restricted investors.en
dc.language.isoen_USen
dc.relation.ispartofseriesFIN-04-014en
dc.titleThe Impact of Mutual Fund Family Membership on Investor Risken
dc.typeWorking Paperen
Appears in Collections:Finance Working Papers

Files in This Item:
File Description SizeFormat 
FIN-04-014.pdf729.75 kBAdobe PDFView/Open


Items in FDA are protected by copyright, with all rights reserved, unless otherwise indicated.