TY - JOUR T1 - Equity Fund Flows and Performance around Economic Recessions JF - The Journal of Wealth Management SP - 99 LP - 115 DO - 10.3905/jwm.2016.19.3.099 VL - 19 IS - 3 AU - Ines Gargouri AU - Lawrence Kryzanowski Y1 - 2016/10/31 UR - https://pm-research.com/content/19/3/99.abstract N2 - The relation between net fund flows and performance is examined around the two most recent U.S. economic recessions for U.S. equity funds. Post-recessionary period net fund flows are positively (negatively) correlated with absolute (peer-relative) performance for the early 2000s recession, and with absolute and peer-relative performance for the Great Recession (the most recent one) according to nonparametric measures. Empirical copulas in the extreme left tails indicate a positive dependence for the early 2000s recession, and independence for the Great Recession between performance and net fund flows.TOPICS: Mutual funds/passive investing/indexing, security analysis and valuation, financial crises and financial market history, performance measurement ER -