Return Persistence and Fund Flows in the Worst Performing Mutual Funds

Preprint OPEN
Jonathan B. Berk; Ian Tonks;
(2007)
  • Subject:
    • jel: jel:G12 | jel:G23 | jel:G11 | jel:G14
    mesheuropmc: health care economics and organizations

We document that the observed persistence amongst the worst performing actively managed mutual funds is attributable to funds that have performed poorly both in the current and prior year. We demonstrate that this persistence results from an unwillingness of investors i... View more
  • References (30)
    30 references, page 1 of 3

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