Abstract

http://ssrn.com/abstract=1569043
 
 

References (63)



 
 

Citations (13)



 


 



Mutual Fund Tax Clienteles


Clemens Sialm


University of Texas at Austin - McCombs School of Business; National Bureau of Economic Research (NBER)

Laura T. Starks


University of Texas at Austin - Department of Finance

December 7, 2011

The Journal of Finance, Forthcoming
McCombs Research Paper Series No. FIN-01-10
AFA 2011 Denver Meetings Paper

Abstract:     
Mutual funds are held by investors in taxable and tax-qualified retirement accounts. We investigate whether the characteristics, investment strategies, and performance of mutual funds held by these diverse tax clienteles differ. Examining both mutual fund distributions and mutual fund holdings, we find that funds held primarily by taxable investors tend to choose investment strategies that result in lower tax burdens than funds held primarily in tax-qualified accounts. Despite these differences, we find no evidence that any investment constraints that may arise from these tax-efficient investment strategies result in performance differences between funds held by different tax clienteles.

Number of Pages in PDF File: 46

Keywords: Mutual Funds, Tax Management, Retirement Accounts

JEL Classification: G11, G12, G23, G35, H24

working papers series





Download This Paper

Date posted: March 12, 2010 ; Last revised: January 10, 2012

Suggested Citation

Sialm, Clemens and Starks, Laura T., Mutual Fund Tax Clienteles (December 7, 2011). The Journal of Finance, Forthcoming; McCombs Research Paper Series No. FIN-01-10; AFA 2011 Denver Meetings Paper. Available at SSRN: http://ssrn.com/abstract=1569043 or http://dx.doi.org/10.2139/ssrn.1569043

Contact Information

Clemens Sialm
University of Texas at Austin - McCombs School of Business ( email )
Austin, TX 78712
United States
HOME PAGE: http://faculty.mccombs.utexas.edu/Clemens.Sialm/
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Laura T. Starks (Contact Author)
University of Texas at Austin - Department of Finance ( email )
Red McCombs School of Business
Austin, TX 78712
United States
512-471-5899 (Phone)
512-471-5073 (Fax)
Feedback to SSRN


Paper statistics
Abstract Views: 954
Downloads: 159
Download Rank: 35,484
References:  63
Citations:  13

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo5 in 0.422 seconds