Resumen: We examine the influence of managerial structures and characteristics on the level of trading divergence among fund families as well as their effects on the subsequent performance of those families. Fund families with fewer interactions between their funds and managers tend to diverge more in their trading decisions. We find a positive influence of this divergence on the performance of fund families not only in competitive but also in cooperative environments. This finding shows that if cooperation leads a fund family to make different trading decisions than their competitors, they have better results. Idioma: Inglés DOI: 10.1016/j.frl.2022.103548 Año: 2023 Publicado en: Finance Research Letters 52 (2023), 103548 [9 pp.] ISSN: 1544-6123 Factor impacto JCR: 7.4 (2023) Categ. JCR: BUSINESS, FINANCE rank: 7 / 233 = 0.03 (2023) - Q1 - T1 Factor impacto CITESCORE: 11.1 - Finance (Q1)