Reference : The Lure of the Brand: Evidence from the European Mutual Fund Industry
Scientific journals : Article
Business & economic sciences : Finance
The Lure of the Brand: Evidence from the European Mutual Fund Industry
Irek, Fabian mailto [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Luxembourg School of Finance (LSF) >]
Hazenberg, Jan Jaap [ING Investment Management]
Van der Scheer, Willem [ING Investment Management]
Stefanova, Mariela [MeesPierson Investment Bank]
European Financial Management
Blackwell Publishing
Yes (verified by ORBilu)
[en] We investigate the effect of the fund provider s brand on mutual fund flows by using a unique data set that represents a direct assessment of the brand image of European fund providers. A superior brand image increases the sensitivity of fl ows to past performance, while an inferior brand decreases it. Funds with a superior brand are not protected against out flows when there is underperformance. A superior brand, coupled with high past performance, generates persistent infl ows and performance persistence so investors will benefi t when a superior brand fund with high past performance is chosen.

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