Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/147592
Title: INFORMATION SHARING IN THE MUTUAL FUND INDUSTRY
Authors: YAP CHEW GUAN
Issue Date: 2015
Citation: YAP CHEW GUAN (2015). INFORMATION SHARING IN THE MUTUAL FUND INDUSTRY. ScholarBank@NUS Repository.
Abstract: This paper examines how information sharing within mutual funds in the same fund family can affect its subsequent performance. With the use of three different information sharing measures, I find evidence that greater degree of information sharing among funds in the same family results in higher average returns among the funds. This paper also seeks to investigate the link between information sharing and the compensation structure of fund managers. The results suggest a positive relationship between bonus tied to family performance as a whole and the extent of information sharing for the mutual fund. For funds that receive bonus based on its families’ performance, there is an approximate 4% increase in the cooperation level between the mutual funds. In a further test, I show that sharing of information is more prevalent in normal market conditions and less so in recessionary environments, as shown by a 1% and 2 % significant decrease in two of the information sharing measures respectively.
URI: http://scholarbank.nus.edu.sg/handle/10635/147592
Appears in Collections:Bachelor's Theses

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