Do Active Managers of Retail Mutual Funds Have an Incentive to Closet Index in Down Markets? Fund Performance and Subsequent Annual Fund Flows, 1997-2011
Gottesman, A., Morey, M. R., & Rosenberg, M. (2013). Do active managers of retail mutual funds have an incentive to closet index in down markets? Fund performance and subsequent annual fund flows, 1997-2011. The Journal of Investment Consulting, 14(2), 47-58.
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