Why Do Money Fund Managers Voluntarily Waive Their Fees

By S. Christoffersen. 2001

133 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/ae37830235334e9a6438005fde4e2220bfd31c15

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Economics and Econometrics

In Finance

Citations in the corpus

Business Networks, Corporate Governance and Contracting in the Mutual Fund Industry (2009, unknown): “Such reimbursements provide a direct a mechanism for increasing shareholder value, as well as a strategy for the advisor to temporarily increase the fund returns—and potentially the fund inflows—by forgoing some of the management fee (Christoffersen (2001)).”
Mutual Fund Incubation (2010, background): “1 Massa (2003) shows that fund families compete on the basis of both fees and breadth of offerings in addition to performance and Christoffersen (2001) shows that fund families strategically waive fees on their money market funds to attract additional inflows.”
Conflicting Family Values in Mutual Fund Families (2013, background): “As Edelen (1999) and Coval and Stafford (2007) note, this is costly.”
The Unintended Consequences of the Zero Lower Bound Policy (2016, unknown): “3 Notable examples of recent contributions on money funds include Christoffersen (2001), Christoffersen and Musto (2002), Baba et al.”
Optimal Asset Allocation and Risk Shifting in Money Management (2007, background): “As Christoffersen (2001) documents, about half of money fund managers voluntarily waive fees so as to increase their net return, and variation in these fee waivers is largely driven by relative performance.”
Monotonicity in asset returns: New tests with applications to the term structure, the CAPM, and portfolio sorts (2010, unknown): “They can also be adopted to test for piece-wise monotonic patterns, as in the case of the U-shaped relationship between fee waivers and mutual fund performance reported by Christo¤ersen (2001) or the U-shaped pricing kernels considered by Bakshi et al. (2009).”