000112780 001__ 112780
000112780 005__ 20240319080955.0
000112780 0247_ $$2doi$$a10.1016/j.ribaf.2021.101605
000112780 0248_ $$2sideral$$a128065
000112780 037__ $$aART-2022-128065
000112780 041__ $$aeng
000112780 100__ $$0(orcid)0000-0003-3661-5448$$aAndreu, L.$$uUniversidad de Zaragoza
000112780 245__ $$aDiversification and manager autonomy in fund families: Implications for investors
000112780 260__ $$c2022
000112780 5060_ $$aAccess copy available to the general public$$fUnrestricted
000112780 5203_ $$aThis paper aims to investigate the consequences of investing in a single fund family for investors. In essence, we focus on the correlation among portfolio holdings of funds with effects in terms of under-diversification for mutual fund investors, especially, if they invest in the same fund family. We also explore the fund manager autonomy in portfolio holding allocation within families and determine the characteristics of those fund families with higher autonomy. Our results show that a higher correlation among funds not only implies that families offer a lower diversification to investors; it also has a negative effect on their performance. However, investors’ performance benefits from a higher manager autonomy. Consequently, investors who select a single fund family could obtain higher returns in smaller fund families with considerable experience that do not belong to a banking or insurance group, as in the former, diversification and manager autonomy are higher.
000112780 536__ $$9info:eu-repo/grantAgreement/ES/DGA-IIU/1-2017$$9info:eu-repo/grantAgreement/ES/DGA/S38-20R$$9info:eu-repo/grantAgreement/ES/MCIU/RTI2018-093483-B-I00$$9info:eu-repo/grantAgreement/ES/UZ/JIUZ-2020-SOC-02
000112780 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc-nd$$uhttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
000112780 590__ $$a6.5$$b2022
000112780 592__ $$a1.273$$b2022
000112780 591__ $$aBUSINESS, FINANCE$$b9 / 111 = 0.081$$c2022$$dQ1$$eT1
000112780 593__ $$aFinance$$c2022$$dQ1
000112780 593__ $$aBusiness, Management and Accounting (miscellaneous)$$c2022$$dQ1
000112780 594__ $$a9.1$$b2022
000112780 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion
000112780 700__ $$0(orcid)0000-0003-4675-6762$$aGimeno, R.$$uUniversidad de Zaragoza
000112780 700__ $$0(orcid)0000-0003-3275-5814$$aOrtiz, C.$$uUniversidad de Zaragoza
000112780 7102_ $$14002$$2230$$aUniversidad de Zaragoza$$bDpto. Contabilidad y Finanzas$$cÁrea Economía Finan. y Contab.
000112780 773__ $$g60 (2022), 101605 [18 pp.]$$tRESEARCH IN INTERNATIONAL BUSINESS AND FINANCE$$x0275-5319
000112780 8564_ $$s715540$$uhttps://zaguan.unizar.es/record/112780/files/texto_completo.pdf$$yVersión publicada
000112780 8564_ $$s2094725$$uhttps://zaguan.unizar.es/record/112780/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada
000112780 909CO $$ooai:zaguan.unizar.es:112780$$particulos$$pdriver
000112780 951__ $$a2024-03-18-13:31:10
000112780 980__ $$aARTICLE