How Long to Read Financial Fragility in Open-ended Mutual Funds

By Peter G. Dunne

How Long Does it Take to Read Financial Fragility in Open-ended Mutual Funds?

It takes the average reader to read Financial Fragility in Open-ended Mutual Funds by Peter G. Dunne

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Description

We study the role of liquidity management tools (LMTs) in mitigating financial fragility in investment funds during the COVID-19 market distress. We employ a unique dataset that reports the availability of different types of LMTs in a sample of Irish-domiciled corporate bond funds. We find that funds with access to price-based tools such as redemption fees or anti-dilution levies experienced lower net outflows in March 2020, as compared to funds with only quantity-based tools such as redemption gates, temporary suspensions or redemption in kind. This difference is stronger among funds with a high sensitivity of flows to past-performance and reflects both higher gross in- flows and lower gross outflows during this episode. Funds with price-based LMTs also rebalance their portfolios towards less liquid bonds, which results in lower price fragility among bonds held disproportionally by our sample of Irish-domiciled funds.

How long is Financial Fragility in Open-ended Mutual Funds?

Financial Fragility in Open-ended Mutual Funds by Peter G. Dunne is 0 pages long, and a total of 0 words.

This makes it 0% the length of the average book. It also has 0% more words than the average book.

How Long Does it Take to Read Financial Fragility in Open-ended Mutual Funds Aloud?

The average oral reading speed is 183 words per minute. This means it takes to read Financial Fragility in Open-ended Mutual Funds aloud.

What Reading Level is Financial Fragility in Open-ended Mutual Funds?

Financial Fragility in Open-ended Mutual Funds is suitable for students ages 2 and up.

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