Beliefs That Predict Returns and Beliefs That Attract Flows: Policy Insights and Sentiment Catering in Mutual Funds
The study shows that mutual fund managers' policy beliefs predict market returns and explain positive alphas, while sentiment beliefs attract flows but lack predictive power.
Featured in No. 134 on 9 Oct 2026 · on release day
- Released
- 9 Oct 2026
- First featured
- No. 134 · 9 Oct 2026
- Published in
- Not yet, as far as Semantic Scholar knows
- Fanfare
- 3 of 5
- Identifier
- RePEc:nbr:nberwo:35528
- Authors
- Zhenyu Gao et al.
Citations and venue from Semantic Scholar (ODC-BY), refreshed weekly. Summary: Quant Letter (CC BY 4.0).