Fund Managers’ Association Networks, Information Sharing and Fund Performance

ABSTRACT

This article studied the social network of fund managers based on their historical working relationships, and investigated how these relations influenced their information sharing as well as the fund performance. We found that (i) An investment portfolio with a high degree of information sharing had a high average return and Sharpe ratio. (ii) Fund managers’ degree of centrality in social networks had a significant positive effect on their information sharing and trading behaviours.

KEYWORDS:

• Social networks
• information sharing
• fund performance

JEL CLASSIFICATION:

• G00
• G10
• G02

Disclosure statement

No potential conflict of interest was reported by the authors.

Additional information

Funding

The authors acknowledge the financial support from the Chinese National Science Foundation (Project Number: 71771116, 71203144), the Jiangsu Provincial Natural Science Foundation (Project Number: BK20161398).