Active ETFs Playing a Bigger Role But Some Hurdles Remain to Widespread Adoption
Justin Kuepper
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Let's take a look at some of the key takeaways from the survey...
The authors write: “In all cases of flows, differences in performances between highest and lowest flow portfolios no longer persist after 1 month.” The short-term horizon could explain why studies using quarterly flow data do not find the smart money effect. In addition, remember that in terms of inflows, the authors found smart money is only smart in the case of small funds (funds with limited asset size). On an equal-weighted basis, the four-factor (market beta, size, value and momentum) alpha difference between positive and negative net flow portfolios was 0.068 percent per month, and was statistically significant at the 5 percent confidence level. On a value-weighted basis, while the returns were still positive, there was no longer any statistically significant alpha.
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Justin Kuepper
|
Let's take a look at some of the key takeaways from the survey...
Aaron Levitt
|
As wage gaps continue to grow, executive compensation is now in the crosshairs...
Justin Kuepper
|
Let's take a look at what bonds investors may want to consider and...
Mutual Fund Education
Justin Kuepper
|
Let's take a closer look at how ESG investments have outperformed during the...
Mutual Fund Education
Daniel Cross
|
While CITs and mutual funds share many similarities, there are some key differences...
Mutual Fund Education
Sam Bourgi
|
The phrase ‘bear market’ has been thrown around a lot lately, but it...
The authors write: “In all cases of flows, differences in performances between highest and lowest flow portfolios no longer persist after 1 month.” The short-term horizon could explain why studies using quarterly flow data do not find the smart money effect. In addition, remember that in terms of inflows, the authors found smart money is only smart in the case of small funds (funds with limited asset size). On an equal-weighted basis, the four-factor (market beta, size, value and momentum) alpha difference between positive and negative net flow portfolios was 0.068 percent per month, and was statistically significant at the 5 percent confidence level. On a value-weighted basis, while the returns were still positive, there was no longer any statistically significant alpha.
Receive email updates about best performers, news, CE accredited webcasts and more.
Justin Kuepper
|
Let's take a look at some of the key takeaways from the survey...
Aaron Levitt
|
As wage gaps continue to grow, executive compensation is now in the crosshairs...
Justin Kuepper
|
Let's take a look at what bonds investors may want to consider and...
Mutual Fund Education
Justin Kuepper
|
Let's take a closer look at how ESG investments have outperformed during the...
Mutual Fund Education
Daniel Cross
|
While CITs and mutual funds share many similarities, there are some key differences...
Mutual Fund Education
Sam Bourgi
|
The phrase ‘bear market’ has been thrown around a lot lately, but it...