Seasonality in mutual fund flows

Hyung Suk Choi

doi:10.19030/jabr.v31i2.9162

Seasonality in mutual fund flows

Hyung Suk Choi

Division of Business Administration

Research output: Contribution to journal › Article › peer-review

8 Scopus citations

Abstract

In this paper the author established the presence of seasonality in cash flows to U.S. domestic mutual funds. January is the month with the highest net cash flows to equity funds and December is the month with the lowest net cash flows. The large net flows in January are attributed to increased purchases, and the small net flows in December are due to increased redemptions. Thus, the turn-of-the-year period is the time that most mutual fund investors make their investment decisions.

Original language	English
Pages (from-to)	715-726
Number of pages	12
Journal	Journal of Applied Business Research
Volume	31
Issue number	2
DOIs	https://doi.org/10.19030/jabr.v31i2.9162
State	Published - 2015

Bibliographical note

Publisher Copyright:
© author(s); CC-BY.

Keywords

Mutual fund flows
Performance of mutual funds
Seasonality test
Tax treatment
Turn-of-the-year effect

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10.19030/jabr.v31i2.9162

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abstract = "In this paper the author established the presence of seasonality in cash flows to U.S. domestic mutual funds. January is the month with the highest net cash flows to equity funds and December is the month with the lowest net cash flows. The large net flows in January are attributed to increased purchases, and the small net flows in December are due to increased redemptions. Thus, the turn-of-the-year period is the time that most mutual fund investors make their investment decisions.",

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AB - In this paper the author established the presence of seasonality in cash flows to U.S. domestic mutual funds. January is the month with the highest net cash flows to equity funds and December is the month with the lowest net cash flows. The large net flows in January are attributed to increased purchases, and the small net flows in December are due to increased redemptions. Thus, the turn-of-the-year period is the time that most mutual fund investors make their investment decisions.

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KW - Performance of mutual funds

KW - Seasonality test

KW - Tax treatment

KW - Turn-of-the-year effect

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Seasonality in mutual fund flows

Abstract

Bibliographical note

Keywords

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