The relevance of family characteristics to individual fund flows

Benson, K., Tang, G. and Tutticci, I. (2008) The relevance of family characteristics to individual fund flows. Australian Journal of Management, 32 3: 419-443.

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Author Benson, K.
Tang, G.
Tutticci, I.
Title The relevance of family characteristics to individual fund flows
Journal name Australian Journal of Management   Check publisher's open access policy
ISSN 0312-8962
Publication date 2008-03
Year available 2008
Sub-type Article (original research)
Volume 32
Issue 3
Start page 419
End page 443
Total pages 25
Editor Marks R.
Place of publication Sydney
Publisher The University of New South Wales
Collection year 2009
Language eng
Subject 350301 Finance
710401 Finance and investment services
150201 Finance
900101 Finance Services
900102 Investment Services (excl. Superannuation)
Abstract This paper examines the relevance of fund specific and family variables in the determination of money flows to Australian investment funds. The existing literature establishes the relevance of past period returns to individual fund flows. Our results show that family characteristics are also relevant to flows. Investors in individual funds are sensitive to family size, family age and product proliferation. We also find some evidence that the top performing funds within a family receive greater flows. The reported relations show that investors recognise that a fund is an embedded member of the family, where fund-level and family-strategies are important to the investment decision.
Keyword fund families
fund flows
managed funds
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: 2009 Higher Education Research Data Collection
UQ Business School Publications
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Citation counts: TR Web of Science Citation Count  Cited 1 times in Thomson Reuters Web of Science Article | Citations
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Created: Wed, 02 Apr 2008, 12:01:31 EST by Karen Morgan on behalf of UQ Business School