Do After-Tax Returns Affect Mutual Fund Inflows?

By Daniel Bergstresser, J. Poterba. 2002

284 citations recorded by the source corpus.

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Citations in the corpus

The Determinants of the Flow of Funds of Managed Portfolios: Mutual Funds vs. Pension Funds (2002, unknown): “In addition, more recent studies using mutual fund flow and performance data from the late 1990s, such as Bergstresser and Poterba (2001) and Del Guercio and Tkac (2001), find results consistent with those we report.”
Star Power: The Effect of Monrningstar Ratings on Mutual Fund Flow (2008, unknown): “In contrast to the previous Del Guercio and Tkac (2002), Bergstresser and Poterba (2002), and Ivkovic and Weisbenner (2006) specifically find that Morningstar ratings are significantly related to fund flow.”
The Prevalence of the Disposition Effect in Mutual Funds’ Trades (2012, unknown): “A rationale for this type of trading activity is that, since mutual fund investors follow after-tax returns (see Bergstresser and Poterba (2002)), mutual fund managers, competing for investment cash flows, try to increase the after-tax returns of their clients by minimizing net realized capital…”
Performance Evaluation and Self-Designated Benchmark Indexes in the Mutual Fund Industry (2009, unknown): “In all specifications, I follow Bergstresser and Poterba (2002) and include a set of year-specific indicator variables for each of the nine different fund investment styles. These style classifications are based on Morningstar’s stylebox classifications at the end of each year. These year style indi”
Market Discipline and Internal Governance in the Mutual Fund Industry (2008, unknown): “This is so since the high 4The positive and convex relationship between performance and fund flows has been documented, for example, by Ippolito (1992), Gruber (1996), Chevalier and Ellison (1997), Sirri and Tufano (1998), Bergstresser and Poterba (2002), and Boudoukh, Richardson, Stanton, and White”
Are Investors Rational? Choices among Index Funds (2004, unknown): “Individual investors trade too much, maintain undiversified portfolios, hold losing positions too long, require a risk premium for idiosyncratic risk, and overinvest in their own companies’ stock (Blume and Friend (1975), Ferris, Haugen and Makhija (1998), Odean (1998), Barber and Odean (2000), Grin”
Individual Investor Mutual-Fund Flows (2009, unknown): “To our knowledge, the only studies that have done so in the domain of U.S. investments11 are Edelen (1999), Bergstresser and Poterba (2002), O’Neal (2004), Cashman, Deli, Nardari, and Villupuram (2006), and Johnson (2007).”
Which Factors Matter to Investors? Evidence from Mutual Fund Flows (2016, unknown): “Examples of studies using raw returns include Bergstresser and Poterba (2002) (tax-adjusted performance), Coval and Stafford (2007) (fund-flow price pressure relationship), Del Guercio and Tkac (2008) (Morningstar rating changes), and Ivkovic and Weisbenner (2009) (differential sensitivity of in- an”
Status Quo Bias and the Number of Alternatives: An Empirical Illustration from the Mutual Fund Industry (2006, unknown): “Bergstresser and Poterba [2002] and DelGuercio and Tkac [2002] report that older funds tend to grow more slowly than younger funds. The size of fund i in year t is given by its assets under management, TNAi,t. The literature reports a negative influence of size on fund growth, indicating it is easie”
The flow-performance relationship around the world (2012, unknown): “This is consistent with a number of papers that show that it is more difficult to explain the flow-performance relationship for outflows than it is for inflows (Bergstresser and Poterba, 2002; Johnson, 2007; Ivkovic and Weisbenner, 2009).”
Behavioral Biases of Mutual Fund Investors (2011, unknown): “Sirri and Tufano (1998), Bergstresser and Poterba (2002), and Sapp and Tiwari (2004) find that fund flows tend to chase funds with high past returns.”
What Drives Micro-Angel Investments? (2005, background): “Secondly, the conception of informal investments as a risky asset in household portfolios leads to a conclusion that tax-related investment elasticities could be a significant determinant influencing the propensity of individuals to make micro-angel investments (Poterba, 1989; Asea and Turnovsky, 19”