全球智库信息集成服务系统(G2TT): Mutual Fund Performance and Flows During the COVID-19 Crisis

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w27551
来源ID	Working Paper 27551
	Mutual Fund Performance and Flows During the COVID-19 Crisis
	Lubos Pastor; M. Blair Vorsatz
发表日期	2020-07-20
出版年	2020
语种	英语
摘要	We present a comprehensive analysis of the performance and flows of U.S. actively-managed equity mutual funds during the COVID-19 crisis of 2020. We find that most active funds underperform passive benchmarks during the crisis, contradicting a popular hypothesis. Funds with high sustainability ratings perform well, as do funds with high star ratings. Fund out ows surpass pre-crisis trends, but not dramatically. Investors favor funds that apply exclusion criteria and funds with high sustainability ratings, especially environmental ones. Our finding that investors remain focused on sustainability during this major crisis suggests they view sustainability as a necessity rather than a luxury good.
主题	Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Markets ; Financial Institutions ; COVID-19
URL	https://www.nber.org/papers/w27551
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/585224
推荐引用方式 GB/T 7714	Lubos Pastor,M. Blair Vorsatz. Mutual Fund Performance and Flows During the COVID-19 Crisis. 2020.