id	sid	tid	token	lemma	pos
fsr-3259	1	1	the	the	DET
fsr-3259	1	2	effects	effect	NOUN
fsr-3259	1	3	of	of	ADP
fsr-3259	1	4	fund	fund	NOUN
fsr-3259	1	5	commonality	commonality	NOUN
fsr-3259	1	6	in	in	ADP
fsr-3259	1	7	mutual	mutual	ADJ
fsr-3259	1	8	fund	fund	NOUN
fsr-3259	1	9	families	family	NOUN
fsr-3259	1	10	on	on	ADP
fsr-3259	1	11	fund	fund	NOUN
fsr-3259	1	12	operating	operating	NOUN
fsr-3259	1	13	expenses	expense	NOUN
fsr-3259	1	14	and	and	CCONJ
fsr-3259	1	15	return	return	VERB
fsr-3259	1	16	correlations	correlation	NOUN
fsr-3259	1	17	:	:	PUNCT
fsr-3259	1	18	evidence	evidence	NOUN
fsr-3259	1	19	from	from	ADP
fsr-3259	1	20	u.s	u.s	PROPN
fsr-3259	1	21	.	.	PROPN
fsr-3259	1	22	equity	equity	NOUN
fsr-3259	1	23	mutual	mutual	ADJ
fsr-3259	1	24	funds	fund	NOUN
fsr-3259	1	25	youngkyun	youngkyun	VERB
fsr-3259	1	26	parka	parka	PROPN
fsr-3259	1	27	,	,	PUNCT
fsr-3259	1	28	*	*	PUNCT
fsr-3259	1	29	acollege	acollege	NOUN
fsr-3259	1	30	of	of	ADP
fsr-3259	1	31	business	business	NOUN
fsr-3259	1	32	and	and	CCONJ
fsr-3259	1	33	economics	economic	NOUN
fsr-3259	1	34	,	,	PUNCT
fsr-3259	1	35	university	university	NOUN
fsr-3259	1	36	of	of	ADP
fsr-3259	1	37	idaho	idaho	PROPN
fsr-3259	1	38	,	,	PUNCT
fsr-3259	1	39	875	875	NUM
fsr-3259	1	40	perimeter	perimeter	NOUN
fsr-3259	1	41	drive	drive	VERB
fsr-3259	1	42	ms	ms	PROPN
fsr-3259	1	43	3161	3161	NUM
fsr-3259	1	44	,	,	PUNCT
fsr-3259	1	45	moscow	moscow	PROPN
fsr-3259	1	46	,	,	PUNCT
fsr-3259	1	47	i	i	PROPN
fsr-3259	1	48	d	d	PROPN
fsr-3259	1	49	838443161	838443161	NUM
fsr-3259	1	50	,	,	PUNCT
fsr-3259	1	51	usa	usa	PROPN
fsr-3259	1	52	abstract	abstract	NOUN
fsr-3259	1	53	this	this	DET
fsr-3259	1	54	article	article	NOUN
fsr-3259	1	55	examines	examine	VERB
fsr-3259	1	56	the	the	DET
fsr-3259	1	57	effects	effect	NOUN
fsr-3259	1	58	of	of	ADP
fsr-3259	1	59	the	the	DET
fsr-3259	1	60	commonality	commonality	NOUN
fsr-3259	1	61	of	of	ADP
fsr-3259	1	62	mutual	mutual	ADJ
fsr-3259	1	63	funds	fund	NOUN
fsr-3259	1	64	within	within	ADP
fsr-3259	1	65	a	a	DET
fsr-3259	1	66	fund	fund	NOUN
fsr-3259	1	67	family	family	NOUN
fsr-3259	1	68	,	,	PUNCT
fsr-3259	1	69	which	which	PRON
fsr-3259	1	70	is	be	AUX
fsr-3259	1	71	measured	measure	VERB
fsr-3259	1	72	by	by	ADP
fsr-3259	1	73	common	common	ADJ
fsr-3259	1	74	stock	stock	NOUN
fsr-3259	1	75	holdings	holding	NOUN
fsr-3259	1	76	and	and	CCONJ
fsr-3259	1	77	multi	multi	ADJ
fsr-3259	1	78	-	-	ADJ
fsr-3259	1	79	fund	fund	NOUN
fsr-3259	1	80	management	management	NOUN
fsr-3259	1	81	,	,	PUNCT
fsr-3259	1	82	on	on	ADP
fsr-3259	1	83	fund	fund	NOUN
fsr-3259	1	84	operating	operating	NOUN
fsr-3259	1	85	expenses	expense	NOUN
fsr-3259	1	86	and	and	CCONJ
fsr-3259	1	87	return	return	VERB
fsr-3259	1	88	correlations	correlation	NOUN
fsr-3259	1	89	.	.	PUNCT
fsr-3259	2	1	for	for	ADP
fsr-3259	2	2	u.s	u.s	PROPN
fsr-3259	2	3	.	.	PROPN
fsr-3259	2	4	equity	equity	NOUN
fsr-3259	2	5	funds	fund	NOUN
fsr-3259	2	6	during	during	ADP
fsr-3259	2	7	the	the	DET
fsr-3259	2	8	period	period	NOUN
fsr-3259	2	9	of	of	ADP
fsr-3259	2	10	2001–2006	2001–2006	NUM
fsr-3259	2	11	,	,	PUNCT
fsr-3259	2	12	we	we	PRON
fsr-3259	2	13	find	find	VERB
fsr-3259	2	14	that	that	SCONJ
fsr-3259	2	15	common	common	ADJ
fsr-3259	2	16	stock	stock	NOUN
fsr-3259	2	17	holdings	holding	NOUN
fsr-3259	2	18	and	and	CCONJ
fsr-3259	2	19	multi	multi	ADJ
fsr-3259	2	20	-	-	ADJ
fsr-3259	2	21	fund	fund	ADJ
fsr-3259	2	22	management	management	NOUN
fsr-3259	2	23	are	be	AUX
fsr-3259	2	24	negatively	negatively	ADV
fsr-3259	2	25	related	relate	VERB
fsr-3259	2	26	to	to	PART
fsr-3259	2	27	fund	fund	VERB
fsr-3259	2	28	operating	operating	NOUN
fsr-3259	2	29	expenses	expense	NOUN
fsr-3259	2	30	but	but	CCONJ
fsr-3259	2	31	positively	positively	ADV
fsr-3259	2	32	related	relate	VERB
fsr-3259	2	33	to	to	ADP
fsr-3259	2	34	the	the	DET
fsr-3259	2	35	correlation	correlation	NOUN
fsr-3259	2	36	of	of	ADP
fsr-3259	2	37	fund	fund	NOUN
fsr-3259	2	38	return	return	NOUN
fsr-3259	2	39	residuals	residual	NOUN
fsr-3259	2	40	,	,	PUNCT
fsr-3259	2	41	which	which	PRON
fsr-3259	2	42	increases	increase	VERB
fsr-3259	2	43	the	the	DET
fsr-3259	2	44	correlation	correlation	NOUN
fsr-3259	2	45	of	of	ADP
fsr-3259	2	46	fund	fund	NOUN
fsr-3259	2	47	returns	return	NOUN
fsr-3259	2	48	.	.	PUNCT
fsr-3259	3	1	additionally	additionally	ADV
fsr-3259	3	2	,	,	PUNCT
fsr-3259	3	3	we	we	PRON
fsr-3259	3	4	find	find	VERB
fsr-3259	3	5	that	that	SCONJ
fsr-3259	3	6	the	the	DET
fsr-3259	3	7	fund	fund	NOUN
fsr-3259	3	8	commonalities	commonality	NOUN
fsr-3259	3	9	can	can	AUX
fsr-3259	3	10	have	have	VERB
fsr-3259	3	11	negative	negative	ADJ
fsr-3259	3	12	net	net	ADJ
fsr-3259	3	13	effects	effect	NOUN
fsr-3259	3	14	on	on	ADP
fsr-3259	3	15	risk	risk	NOUN
fsr-3259	3	16	-	-	PUNCT
fsr-3259	3	17	adjusted	adjust	VERB
fsr-3259	3	18	returns	return	NOUN
fsr-3259	3	19	of	of	ADP
fsr-3259	3	20	a	a	DET
fsr-3259	3	21	portfolio	portfolio	NOUN
fsr-3259	3	22	with	with	ADP
fsr-3259	3	23	equity	equity	NOUN
fsr-3259	3	24	funds	fund	NOUN
fsr-3259	3	25	that	that	PRON
fsr-3259	3	26	have	have	VERB
fsr-3259	3	27	different	different	ADJ
fsr-3259	3	28	investment	investment	NOUN
fsr-3259	3	29	objectives	objective	NOUN
fsr-3259	3	30	.	.	PUNCT
fsr-3259	4	1	©	©	PROPN
fsr-3259	4	2	2016	2016	NUM
fsr-3259	4	3	academy	academy	NOUN
fsr-3259	4	4	of	of	ADP
fsr-3259	4	5	financial	financial	ADJ
fsr-3259	4	6	services	service	NOUN
fsr-3259	4	7	.	.	PUNCT
fsr-3259	5	1	all	all	DET
fsr-3259	5	2	rights	right	NOUN
fsr-3259	5	3	reserved	reserve	VERB
fsr-3259	5	4	.	.	PUNCT
fsr-3259	6	1	jel	jel	PROPN
fsr-3259	6	2	classification	classification	PROPN
fsr-3259	6	3	:	:	PUNCT
fsr-3259	6	4	g23	g23	NOUN
fsr-3259	6	5	;	;	PUNCT
fsr-3259	6	6	g11	g11	NOUN
fsr-3259	6	7	keywords	keyword	NOUN
fsr-3259	6	8	:	:	PUNCT
fsr-3259	6	9	mutual	mutual	ADJ
fsr-3259	6	10	fund	fund	NOUN
fsr-3259	6	11	family	family	NOUN
fsr-3259	6	12	;	;	PUNCT
fsr-3259	6	13	fund	fund	NOUN
fsr-3259	6	14	commonality	commonality	NOUN
fsr-3259	6	15	;	;	PUNCT
fsr-3259	6	16	fund	fund	NOUN
fsr-3259	6	17	operating	operating	NOUN
fsr-3259	6	18	expense	expense	NOUN
fsr-3259	6	19	;	;	PUNCT
fsr-3259	6	20	fund	fund	NOUN
fsr-3259	6	21	return	return	NOUN
fsr-3259	6	22	correlation	correlation	NOUN
fsr-3259	6	23	1	1	NUM
fsr-3259	6	24	.	.	PUNCT
fsr-3259	6	25	introduction	introduction	NOUN
fsr-3259	6	26	many	many	ADJ
fsr-3259	6	27	people	people	NOUN
fsr-3259	6	28	in	in	ADP
fsr-3259	6	29	the	the	DET
fsr-3259	6	30	united	united	PROPN
fsr-3259	6	31	states	states	PROPN
fsr-3259	6	32	use	use	VERB
fsr-3259	6	33	mutual	mutual	ADJ
fsr-3259	6	34	funds	fund	NOUN
fsr-3259	6	35	as	as	ADP
fsr-3259	6	36	investment	investment	NOUN
fsr-3259	6	37	and	and	CCONJ
fsr-3259	6	38	retirement	retirement	NOUN
fsr-3259	6	39	saving	saving	NOUN
fsr-3259	6	40	vehicles	vehicle	NOUN
fsr-3259	6	41	.	.	PUNCT
fsr-3259	7	1	over	over	ADP
fsr-3259	7	2	90	90	NUM
fsr-3259	7	3	million	million	NUM
fsr-3259	7	4	individual	individual	ADJ
fsr-3259	7	5	investors	investor	NOUN
fsr-3259	7	6	owned	own	VERB
fsr-3259	7	7	mutual	mutual	ADJ
fsr-3259	7	8	funds	fund	NOUN
fsr-3259	7	9	and	and	CCONJ
fsr-3259	7	10	held	hold	VERB
fsr-3259	7	11	about	about	ADV
fsr-3259	7	12	87	87	NUM
fsr-3259	7	13	%	%	NOUN
fsr-3259	7	14	of	of	ADP
fsr-3259	7	15	the	the	DET
fsr-3259	7	16	total	total	ADJ
fsr-3259	7	17	mutual	mutual	ADJ
fsr-3259	7	18	fund	fund	NOUN
fsr-3259	7	19	assets	asset	NOUN
fsr-3259	7	20	in	in	ADP
fsr-3259	7	21	2014	2014	NUM
fsr-3259	7	22	(	(	PUNCT
fsr-3259	7	23	investment	investment	NOUN
fsr-3259	7	24	company	company	NOUN
fsr-3259	7	25	institute	institute	NOUN
fsr-3259	8	1	[	[	X
fsr-3259	8	2	ici	ici	X
fsr-3259	8	3	]	]	X
fsr-3259	8	4	,	,	PUNCT
fsr-3259	8	5	2015	2015	NUM
fsr-3259	8	6	)	)	PUNCT
fsr-3259	8	7	.	.	PUNCT
fsr-3259	9	1	mutual	mutual	ADJ
fsr-3259	9	2	fund	fund	NOUN
fsr-3259	9	3	investors	investor	NOUN
fsr-3259	9	4	often	often	ADV
fsr-3259	9	5	limit	limit	VERB
fsr-3259	9	6	their	their	PRON
fsr-3259	9	7	transactions	transaction	NOUN
fsr-3259	9	8	to	to	ADP
fsr-3259	9	9	one	one	NUM
fsr-3259	9	10	fund	fund	NOUN
fsr-3259	9	11	family	family	NOUN
fsr-3259	9	12	to	to	PART
fsr-3259	9	13	save	save	VERB
fsr-3259	9	14	search	search	NOUN
fsr-3259	9	15	costs	cost	NOUN
fsr-3259	9	16	(	(	PUNCT
fsr-3259	9	17	ciccotello	ciccotello	NOUN
fsr-3259	9	18	,	,	PUNCT
fsr-3259	9	19	miles	mile	NOUN
fsr-3259	9	20	,	,	PUNCT
fsr-3259	9	21	and	and	CCONJ
fsr-3259	9	22	walsh	walsh	NOUN
fsr-3259	9	23	,	,	PUNCT
fsr-3259	9	24	2007	2007	NUM
fsr-3259	9	25	;	;	PUNCT
fsr-3259	9	26	sirri	sirri	NOUN
fsr-3259	9	27	and	and	CCONJ
fsr-3259	9	28	tufano	tufano	ADJ
fsr-3259	9	29	,	,	PUNCT
fsr-3259	9	30	1998	1998	NUM
fsr-3259	9	31	)	)	PUNCT
fsr-3259	9	32	,	,	PUNCT
fsr-3259	9	33	to	to	PART
fsr-3259	9	34	simplify	simplify	VERB
fsr-3259	9	35	fund	fund	NOUN
fsr-3259	9	36	management	management	NOUN
fsr-3259	9	37	(	(	PUNCT
fsr-3259	9	38	elton	elton	PROPN
fsr-3259	9	39	,	,	PUNCT
fsr-3259	9	40	*	*	PUNCT
fsr-3259	9	41	corresponding	correspond	VERB
fsr-3259	9	42	author	author	NOUN
fsr-3259	9	43	.	.	PUNCT
fsr-3259	10	1	tel	tel	PROPN
fsr-3259	10	2	.	.	PUNCT
fsr-3259	10	3	:	:	PUNCT
fsr-3259	11	1	�	�	PROPN
fsr-3259	11	2	1	1	NUM
fsr-3259	11	3	-	-	SYM
fsr-3259	11	4	208	208	NUM
fsr-3259	11	5	-	-	PUNCT
fsr-3259	11	6	885	885	NUM
fsr-3259	11	7	-	-	PUNCT
fsr-3259	11	8	7154	7154	NUM
fsr-3259	11	9	;	;	PUNCT
fsr-3259	11	10	fax	fax	NOUN
fsr-3259	11	11	:	:	PUNCT
fsr-3259	11	12	�	�	PROPN
fsr-3259	11	13	1	1	NUM
fsr-3259	11	14	-	-	SYM
fsr-3259	11	15	208	208	NUM
fsr-3259	11	16	-	-	PUNCT
fsr-3259	11	17	885	885	NUM
fsr-3259	11	18	-	-	SYM
fsr-3259	11	19	5347	5347	NUM
fsr-3259	11	20	.	.	PUNCT
fsr-3259	12	1	e	e	X
fsr-3259	12	2	-	-	NOUN
fsr-3259	12	3	mail	mail	NOUN
fsr-3259	12	4	address	address	NOUN
fsr-3259	12	5	:	:	PUNCT
fsr-3259	12	6	youngpark@uidaho.edu	youngpark@uidaho.edu	PROPN
fsr-3259	12	7	financial	financial	PROPN
fsr-3259	12	8	services	service	NOUN
fsr-3259	12	9	review	review	VERB
fsr-3259	12	10	25	25	NUM
fsr-3259	12	11	(	(	PUNCT
fsr-3259	12	12	2016	2016	NUM
fsr-3259	12	13	)	)	PUNCT
fsr-3259	12	14	29–49	29–49	NUM
fsr-3259	12	15	1057	1057	NUM
fsr-3259	12	16	-	-	SYM
fsr-3259	12	17	0810/16/$	0810/16/$	ADV
fsr-3259	12	18	–	–	PUNCT
fsr-3259	12	19	see	see	VERB
fsr-3259	12	20	front	front	ADJ
fsr-3259	12	21	matter	matter	NOUN
fsr-3259	12	22	©	©	PROPN
fsr-3259	12	23	2016	2016	NUM
fsr-3259	12	24	academy	academy	NOUN
fsr-3259	12	25	of	of	ADP
fsr-3259	12	26	financial	financial	ADJ
fsr-3259	12	27	services	service	NOUN
fsr-3259	12	28	.	.	PUNCT
fsr-3259	13	1	all	all	DET
fsr-3259	13	2	rights	right	NOUN
fsr-3259	13	3	reserved	reserve	VERB
fsr-3259	13	4	.	.	PUNCT
fsr-3259	14	1	gruber	gruber	NOUN
fsr-3259	14	2	,	,	PUNCT
fsr-3259	14	3	and	and	CCONJ
fsr-3259	14	4	green	green	ADJ
fsr-3259	14	5	,	,	PUNCT
fsr-3259	14	6	2007	2007	NUM
fsr-3259	14	7	)	)	PUNCT
fsr-3259	14	8	,	,	PUNCT
fsr-3259	14	9	or	or	CCONJ
fsr-3259	14	10	as	as	ADP
fsr-3259	14	11	a	a	DET
fsr-3259	14	12	result	result	NOUN
fsr-3259	14	13	of	of	ADP
fsr-3259	14	14	following	follow	VERB
fsr-3259	14	15	a	a	DET
fsr-3259	14	16	fund	fund	NOUN
fsr-3259	14	17	family	family	NOUN
fsr-3259	14	18	’s	’s	PART
fsr-3259	14	19	reputation	reputation	NOUN
fsr-3259	14	20	(	(	PUNCT
fsr-3259	14	21	ciccotello	ciccotello	PROPN
fsr-3259	14	22	,	,	PUNCT
fsr-3259	14	23	greene	greene	PROPN
fsr-3259	14	24	,	,	PUNCT
fsr-3259	14	25	and	and	CCONJ
fsr-3259	14	26	walsh	walsh	NOUN
fsr-3259	14	27	,	,	PUNCT
fsr-3259	14	28	2007	2007	NUM
fsr-3259	14	29	;	;	PUNCT
fsr-3259	14	30	gerken	gerken	VERB
fsr-3259	14	31	,	,	PUNCT
fsr-3259	14	32	starks	stark	NOUN
fsr-3259	14	33	,	,	PUNCT
fsr-3259	14	34	and	and	CCONJ
fsr-3259	14	35	yates	yates	PROPN
fsr-3259	14	36	,	,	PUNCT
fsr-3259	14	37	2014	2014	NUM
fsr-3259	14	38	)	)	PUNCT
fsr-3259	14	39	.	.	PUNCT
fsr-3259	15	1	in	in	ADP
fsr-3259	15	2	addition	addition	NOUN
fsr-3259	15	3	,	,	PUNCT
fsr-3259	15	4	mutual	mutual	ADJ
fsr-3259	15	5	fund	fund	NOUN
fsr-3259	15	6	investors	investor	NOUN
fsr-3259	15	7	have	have	AUX
fsr-3259	15	8	become	become	VERB
fsr-3259	15	9	sensitive	sensitive	ADJ
fsr-3259	15	10	to	to	ADP
fsr-3259	15	11	a	a	DET
fsr-3259	15	12	fund	fund	NOUN
fsr-3259	15	13	’s	’s	PART
fsr-3259	15	14	expense	expense	NOUN
fsr-3259	15	15	ratio.1	ratio.1	NOUN
fsr-3259	15	16	fig	fig	NOUN
fsr-3259	15	17	.	.	PUNCT
fsr-3259	16	1	1	1	NUM
fsr-3259	16	2	shows	show	VERB
fsr-3259	16	3	the	the	DET
fsr-3259	16	4	simple	simple	ADJ
fsr-3259	16	5	average	average	ADJ
fsr-3259	16	6	expense	expense	NOUN
fsr-3259	16	7	ratios	ratio	NOUN
fsr-3259	16	8	,	,	PUNCT
fsr-3259	16	9	the	the	DET
fsr-3259	16	10	asset	asset	NOUN
fsr-3259	16	11	-	-	PUNCT
fsr-3259	16	12	weighted	weight	VERB
fsr-3259	16	13	average	average	ADJ
fsr-3259	16	14	expense	expense	NOUN
fsr-3259	16	15	ratios	ratio	NOUN
fsr-3259	16	16	,	,	PUNCT
fsr-3259	16	17	and	and	CCONJ
fsr-3259	16	18	the	the	DET
fsr-3259	16	19	difference	difference	NOUN
fsr-3259	16	20	between	between	ADP
fsr-3259	16	21	the	the	DET
fsr-3259	16	22	two	two	NUM
fsr-3259	16	23	expense	expense	NOUN
fsr-3259	16	24	ratios	ratio	NOUN
fsr-3259	16	25	of	of	ADP
fsr-3259	16	26	equity	equity	NOUN
fsr-3259	16	27	funds	fund	NOUN
fsr-3259	16	28	for	for	ADP
fsr-3259	16	29	the	the	DET
fsr-3259	16	30	period	period	NOUN
fsr-3259	16	31	of	of	ADP
fsr-3259	16	32	1996	1996	NUM
fsr-3259	16	33	to	to	ADP
fsr-3259	16	34	2014	2014	NUM
fsr-3259	16	35	(	(	PUNCT
fsr-3259	16	36	ici	ici	PROPN
fsr-3259	16	37	,	,	PUNCT
fsr-3259	16	38	2015	2015	NUM
fsr-3259	16	39	)	)	PUNCT
fsr-3259	16	40	.	.	PUNCT
fsr-3259	17	1	the	the	DET
fsr-3259	17	2	figure	figure	NOUN
fsr-3259	17	3	indicates	indicate	VERB
fsr-3259	17	4	that	that	SCONJ
fsr-3259	17	5	even	even	ADV
fsr-3259	17	6	if	if	SCONJ
fsr-3259	17	7	the	the	DET
fsr-3259	17	8	mutual	mutual	ADJ
fsr-3259	17	9	fund	fund	NOUN
fsr-3259	17	10	industry	industry	NOUN
fsr-3259	17	11	has	have	AUX
fsr-3259	17	12	recently	recently	ADV
fsr-3259	17	13	provided	provide	VERB
fsr-3259	17	14	more	more	ADJ
fsr-3259	17	15	low	low	ADJ
fsr-3259	17	16	-	-	PUNCT
fsr-3259	17	17	cost	cost	NOUN
fsr-3259	17	18	equity	equity	NOUN
fsr-3259	17	19	funds	fund	NOUN
fsr-3259	17	20	,	,	PUNCT
fsr-3259	17	21	equity	equity	NOUN
fsr-3259	17	22	fund	fund	NOUN
fsr-3259	17	23	investors	investor	NOUN
fsr-3259	17	24	have	have	AUX
fsr-3259	17	25	kept	keep	VERB
fsr-3259	17	26	their	their	PRON
fsr-3259	17	27	sensitivity	sensitivity	NOUN
fsr-3259	17	28	to	to	PART
fsr-3259	17	29	fund	fund	VERB
fsr-3259	17	30	expense	expense	NOUN
fsr-3259	17	31	ratios	ratio	NOUN
fsr-3259	17	32	.	.	PUNCT
fsr-3259	18	1	because	because	SCONJ
fsr-3259	18	2	long	long	ADJ
fsr-3259	18	3	-	-	PUNCT
fsr-3259	18	4	term	term	NOUN
fsr-3259	18	5	returns	return	NOUN
fsr-3259	18	6	are	be	AUX
fsr-3259	18	7	significantly	significantly	ADV
fsr-3259	18	8	affected	affect	VERB
fsr-3259	18	9	by	by	ADP
fsr-3259	18	10	fund	fund	NOUN
fsr-3259	18	11	expenses	expense	NOUN
fsr-3259	18	12	(	(	PUNCT
fsr-3259	18	13	e.g.	e.g.	ADV
fsr-3259	18	14	,	,	PUNCT
fsr-3259	18	15	carhart	carhart	NOUN
fsr-3259	18	16	,	,	PUNCT
fsr-3259	18	17	1997	1997	NUM
fsr-3259	18	18	;	;	PUNCT
fsr-3259	18	19	gil	gil	PROPN
fsr-3259	18	20	-	-	PUNCT
fsr-3259	18	21	bazo	bazo	NOUN
fsr-3259	18	22	and	and	CCONJ
fsr-3259	18	23	ruiz	ruiz	NOUN
fsr-3259	18	24	-	-	PUNCT
fsr-3259	18	25	verdu	verdu	NOUN
fsr-3259	18	26	,	,	PUNCT
fsr-3259	18	27	2009	2009	NUM
fsr-3259	18	28	;	;	PUNCT
fsr-3259	18	29	haslem	haslem	NOUN
fsr-3259	18	30	,	,	PUNCT
fsr-3259	18	31	baker	baker	PROPN
fsr-3259	18	32	,	,	PUNCT
fsr-3259	18	33	and	and	CCONJ
fsr-3259	18	34	smith	smith	PROPN
fsr-3259	18	35	,	,	PUNCT
fsr-3259	18	36	2008	2008	NUM
fsr-3259	18	37	)	)	PUNCT
fsr-3259	18	38	,	,	PUNCT
fsr-3259	18	39	it	it	PRON
fsr-3259	18	40	is	be	AUX
fsr-3259	18	41	natural	natural	ADJ
fsr-3259	18	42	that	that	SCONJ
fsr-3259	18	43	fund	fund	NOUN
fsr-3259	18	44	investors	investor	NOUN
fsr-3259	18	45	focus	focus	VERB
fsr-3259	18	46	on	on	ADP
fsr-3259	18	47	a	a	DET
fsr-3259	18	48	fund	fund	NOUN
fsr-3259	18	49	’s	’s	PART
fsr-3259	18	50	expense	expense	NOUN
fsr-3259	18	51	ratio	ratio	NOUN
fsr-3259	18	52	.	.	PUNCT
fsr-3259	19	1	however	however	ADV
fsr-3259	19	2	,	,	PUNCT
fsr-3259	19	3	if	if	SCONJ
fsr-3259	19	4	a	a	DET
fsr-3259	19	5	lower	low	ADJ
fsr-3259	19	6	expense	expense	NOUN
fsr-3259	19	7	ratio	ratio	NOUN
fsr-3259	19	8	results	result	NOUN
fsr-3259	19	9	from	from	ADP
fsr-3259	19	10	increased	increase	VERB
fsr-3259	19	11	fund	fund	NOUN
fsr-3259	19	12	commonality	commonality	NOUN
fsr-3259	19	13	within	within	ADP
fsr-3259	19	14	a	a	DET
fsr-3259	19	15	family	family	NOUN
fsr-3259	19	16	,	,	PUNCT
fsr-3259	19	17	seeking	seek	VERB
fsr-3259	19	18	only	only	ADJ
fsr-3259	19	19	low	low	ADJ
fsr-3259	19	20	-	-	PUNCT
fsr-3259	19	21	cost	cost	NOUN
fsr-3259	19	22	funds	fund	NOUN
fsr-3259	19	23	from	from	ADP
fsr-3259	19	24	one	one	NUM
fsr-3259	19	25	family	family	NOUN
fsr-3259	19	26	may	may	AUX
fsr-3259	19	27	result	result	VERB
fsr-3259	19	28	in	in	ADP
fsr-3259	19	29	increasing	increase	VERB
fsr-3259	19	30	an	an	DET
fsr-3259	19	31	investor	investor	NOUN
fsr-3259	19	32	’s	’s	PART
fsr-3259	19	33	portfolio	portfolio	NOUN
fsr-3259	19	34	risk	risk	NOUN
fsr-3259	19	35	.	.	PUNCT
fsr-3259	20	1	in	in	ADP
fsr-3259	20	2	this	this	DET
fsr-3259	20	3	study	study	NOUN
fsr-3259	20	4	,	,	PUNCT
fsr-3259	20	5	we	we	PRON
fsr-3259	20	6	measure	measure	VERB
fsr-3259	20	7	the	the	DET
fsr-3259	20	8	commonality	commonality	NOUN
fsr-3259	20	9	of	of	ADP
fsr-3259	20	10	funds	fund	NOUN
fsr-3259	20	11	by	by	ADP
fsr-3259	20	12	how	how	SCONJ
fsr-3259	20	13	much	much	ADJ
fsr-3259	20	14	a	a	DET
fsr-3259	20	15	fund	fund	NOUN
fsr-3259	20	16	holds	hold	VERB
fsr-3259	20	17	the	the	DET
fsr-3259	20	18	same	same	ADJ
fsr-3259	20	19	stocks	stock	NOUN
fsr-3259	20	20	for	for	ADP
fsr-3259	20	21	other	other	ADJ
fsr-3259	20	22	funds	fund	NOUN
fsr-3259	20	23	in	in	ADP
fsr-3259	20	24	the	the	DET
fsr-3259	20	25	same	same	ADJ
fsr-3259	20	26	family	family	NOUN
fsr-3259	20	27	and	and	CCONJ
fsr-3259	20	28	whether	whether	SCONJ
fsr-3259	20	29	a	a	DET
fsr-3259	20	30	fund	fund	NOUN
fsr-3259	20	31	is	be	AUX
fsr-3259	20	32	managed	manage	VERB
fsr-3259	20	33	by	by	ADP
fsr-3259	20	34	multi	multi	ADJ
fsr-3259	20	35	-	-	ADJ
fsr-3259	20	36	fund	fund	NOUN
fsr-3259	20	37	managers	manager	NOUN
fsr-3259	20	38	who	who	PRON
fsr-3259	20	39	simultaneously	simultaneously	ADV
fsr-3259	20	40	manage	manage	VERB
fsr-3259	20	41	multiple	multiple	ADJ
fsr-3259	20	42	funds	fund	NOUN
fsr-3259	20	43	in	in	ADP
fsr-3259	20	44	the	the	DET
fsr-3259	20	45	family	family	NOUN
fsr-3259	20	46	.	.	PUNCT
fsr-3259	21	1	common	common	ADJ
fsr-3259	21	2	stock	stock	NOUN
fsr-3259	21	3	holdings	holding	NOUN
fsr-3259	21	4	and	and	CCONJ
fsr-3259	21	5	multi	multi	ADJ
fsr-3259	21	6	-	-	ADJ
fsr-3259	21	7	fund	fund	ADJ
fsr-3259	21	8	management	management	NOUN
fsr-3259	21	9	have	have	AUX
fsr-3259	21	10	been	be	AUX
fsr-3259	21	11	recognized	recognize	VERB
fsr-3259	21	12	in	in	ADP
fsr-3259	21	13	the	the	DET
fsr-3259	21	14	recent	recent	ADJ
fsr-3259	21	15	literature	literature	NOUN
fsr-3259	21	16	that	that	PRON
fsr-3259	21	17	emphasizes	emphasize	VERB
fsr-3259	21	18	mutual	mutual	ADJ
fsr-3259	21	19	funds	fund	NOUN
fsr-3259	21	20	as	as	ADP
fsr-3259	21	21	members	member	NOUN
fsr-3259	21	22	of	of	ADP
fsr-3259	21	23	a	a	DET
fsr-3259	21	24	fund	fund	NOUN
fsr-3259	21	25	family	family	NOUN
fsr-3259	21	26	rather	rather	ADV
fsr-3259	21	27	than	than	ADP
fsr-3259	21	28	as	as	ADP
fsr-3259	21	29	stand	stand	VERB
fsr-3259	21	30	-	-	PUNCT
fsr-3259	21	31	alone	alone	ADV
fsr-3259	21	32	entities	entity	NOUN
fsr-3259	21	33	(	(	PUNCT
fsr-3259	21	34	e.g.	e.g.	ADV
fsr-3259	21	35	,	,	PUNCT
fsr-3259	21	36	agarwal	agarwal	PROPN
fsr-3259	21	37	,	,	PUNCT
fsr-3259	21	38	ma	ma	PROPN
fsr-3259	21	39	,	,	PUNCT
fsr-3259	21	40	and	and	CCONJ
fsr-3259	21	41	mullally	mullally	NOUN
fsr-3259	21	42	,	,	PUNCT
fsr-3259	21	43	2015	2015	NUM
fsr-3259	21	44	;	;	PUNCT
fsr-3259	21	45	choi	choi	NOUN
fsr-3259	21	46	,	,	PUNCT
fsr-3259	21	47	kahraman	kahraman	NOUN
fsr-3259	21	48	,	,	PUNCT
fsr-3259	21	49	and	and	CCONJ
fsr-3259	21	50	mukherjee	mukherjee	NOUN
fsr-3259	21	51	,	,	PUNCT
fsr-3259	21	52	2013	2013	NUM
fsr-3259	21	53	;	;	PUNCT
fsr-3259	21	54	elton	elton	PROPN
fsr-3259	21	55	et	et	PROPN
fsr-3259	21	56	al	al	PROPN
fsr-3259	21	57	.	.	PROPN
fsr-3259	21	58	,	,	PUNCT
fsr-3259	21	59	2007	2007	NUM
fsr-3259	21	60	;	;	PUNCT
fsr-3259	21	61	yadav	yadav	NOUN
fsr-3259	21	62	,	,	PUNCT
fsr-3259	21	63	2010	2010	NUM
fsr-3259	21	64	)	)	PUNCT
fsr-3259	21	65	.	.	PUNCT
fsr-3259	22	1	common	common	ADJ
fsr-3259	22	2	stock	stock	NOUN
fsr-3259	22	3	holdings	holding	NOUN
fsr-3259	22	4	and	and	CCONJ
fsr-3259	22	5	multi	multi	ADJ
fsr-3259	22	6	-	-	ADJ
fsr-3259	22	7	fund	fund	ADJ
fsr-3259	22	8	management	management	NOUN
fsr-3259	22	9	may	may	AUX
fsr-3259	22	10	reduce	reduce	VERB
fsr-3259	22	11	fund	fund	NOUN
fsr-3259	22	12	operating	operating	NOUN
fsr-3259	22	13	expenses	expense	NOUN
fsr-3259	22	14	(	(	PUNCT
fsr-3259	22	15	excluding	exclude	VERB
fsr-3259	22	16	12b-1	12b-1	NUM
fsr-3259	22	17	fee	fee	NOUN
fsr-3259	22	18	)	)	PUNCT
fsr-3259	22	19	,	,	PUNCT
fsr-3259	22	20	which	which	PRON
fsr-3259	22	21	are	be	AUX
fsr-3259	22	22	associated	associate	VERB
fsr-3259	22	23	with	with	ADP
fsr-3259	22	24	portfolio	portfolio	NOUN
fsr-3259	22	25	management	management	NOUN
fsr-3259	22	26	and	and	CCONJ
fsr-3259	22	27	administrative	administrative	ADJ
fsr-3259	22	28	services	service	NOUN
fsr-3259	22	29	.	.	PUNCT
fsr-3259	23	1	the	the	DET
fsr-3259	23	2	two	two	NUM
fsr-3259	23	3	fund	fund	NOUN
fsr-3259	23	4	commonalities	commonality	NOUN
fsr-3259	23	5	,	,	PUNCT
fsr-3259	23	6	however	however	ADV
fsr-3259	23	7	,	,	PUNCT
fsr-3259	23	8	may	may	AUX
fsr-3259	23	9	also	also	ADV
fsr-3259	23	10	enhance	enhance	VERB
fsr-3259	23	11	return	return	NOUN
fsr-3259	23	12	correlations	correlation	NOUN
fsr-3259	23	13	between	between	ADP
fsr-3259	23	14	funds	fund	NOUN
fsr-3259	23	15	and	and	CCONJ
fsr-3259	23	16	thereby	thereby	ADV
fsr-3259	23	17	increase	increase	VERB
fsr-3259	23	18	an	an	DET
fsr-3259	23	19	investor	investor	NOUN
fsr-3259	23	20	’s	’s	PART
fsr-3259	23	21	portfolio	portfolio	NOUN
fsr-3259	23	22	risk	risk	NOUN
fsr-3259	23	23	.	.	PUNCT
fsr-3259	24	1	this	this	DET
fsr-3259	24	2	study	study	NOUN
fsr-3259	24	3	examines	examine	VERB
fsr-3259	24	4	the	the	DET
fsr-3259	24	5	effects	effect	NOUN
fsr-3259	24	6	of	of	ADP
fsr-3259	24	7	common	common	ADJ
fsr-3259	24	8	stock	stock	NOUN
fsr-3259	24	9	holdings	holding	NOUN
fsr-3259	24	10	and	and	CCONJ
fsr-3259	24	11	multi	multi	ADJ
fsr-3259	24	12	-	-	ADJ
fsr-3259	24	13	fund	fund	ADJ
fsr-3259	24	14	management	management	NOUN
fsr-3259	24	15	of	of	ADP
fsr-3259	24	16	funds	fund	NOUN
fsr-3259	24	17	on	on	ADP
fsr-3259	24	18	fund	fund	NOUN
fsr-3259	24	19	operating	operating	NOUN
fsr-3259	24	20	expenses	expense	NOUN
fsr-3259	24	21	and	and	CCONJ
fsr-3259	24	22	return	return	VERB
fsr-3259	24	23	correlations	correlation	NOUN
fsr-3259	24	24	.	.	PUNCT
fsr-3259	25	1	common	common	ADJ
fsr-3259	25	2	stock	stock	NOUN
fsr-3259	25	3	holdings	holding	NOUN
fsr-3259	25	4	and	and	CCONJ
fsr-3259	25	5	multi	multi	ADJ
fsr-3259	25	6	-	-	ADJ
fsr-3259	25	7	fund	fund	ADJ
fsr-3259	25	8	management	management	NOUN
fsr-3259	25	9	are	be	AUX
fsr-3259	25	10	assessed	assess	VERB
fsr-3259	25	11	only	only	ADV
fsr-3259	25	12	for	for	ADP
fsr-3259	25	13	pairs	pair	NOUN
fsr-3259	25	14	of	of	ADP
fsr-3259	25	15	funds	fund	NOUN
fsr-3259	25	16	that	that	PRON
fsr-3259	25	17	have	have	VERB
fsr-3259	25	18	different	different	ADJ
fsr-3259	25	19	investment	investment	NOUN
fsr-3259	25	20	objectives	objective	NOUN
fsr-3259	25	21	,	,	PUNCT
fsr-3259	25	22	by	by	ADP
fsr-3259	25	23	excluding	exclude	VERB
fsr-3259	25	24	pairs	pair	NOUN
fsr-3259	25	25	of	of	ADP
fsr-3259	25	26	funds	fund	NOUN
fsr-3259	25	27	that	that	PRON
fsr-3259	25	28	have	have	VERB
fsr-3259	25	29	the	the	DET
fsr-3259	25	30	same	same	ADJ
fsr-3259	25	31	investment	investment	NOUN
fsr-3259	25	32	objective	objective	NOUN
fsr-3259	25	33	.	.	PUNCT
fsr-3259	26	1	because	because	SCONJ
fsr-3259	26	2	of	of	ADP
fsr-3259	26	3	fig	fig	NOUN
fsr-3259	26	4	.	.	PUNCT
fsr-3259	27	1	1	1	X
fsr-3259	27	2	.	.	PUNCT
fsr-3259	27	3	expense	expense	NOUN
fsr-3259	27	4	ratios	ratio	NOUN
fsr-3259	27	5	in	in	ADP
fsr-3259	27	6	equity	equity	NOUN
fsr-3259	27	7	mutual	mutual	ADJ
fsr-3259	27	8	funds	fund	NOUN
fsr-3259	27	9	.	.	PUNCT
fsr-3259	28	1	source	source	NOUN
fsr-3259	28	2	:	:	PUNCT
fsr-3259	28	3	investment	investment	NOUN
fsr-3259	28	4	company	company	PROPN
fsr-3259	28	5	institute	institute	PROPN
fsr-3259	28	6	fact	fact	NOUN
fsr-3259	28	7	book	book	NOUN
fsr-3259	28	8	.	.	PUNCT
fsr-3259	29	1	30	30	NUM
fsr-3259	29	2	y.	y.	PROPN
fsr-3259	29	3	park	park	PROPN
fsr-3259	29	4	/	/	SYM
fsr-3259	29	5	financial	financial	ADJ
fsr-3259	29	6	services	service	NOUN
fsr-3259	29	7	review	review	VERB
fsr-3259	29	8	25	25	NUM
fsr-3259	29	9	(	(	PUNCT
fsr-3259	29	10	2016	2016	NUM
fsr-3259	29	11	)	)	PUNCT
fsr-3259	29	12	29–49	29–49	NUM
fsr-3259	30	1	this	this	DET
fsr-3259	30	2	exclusion	exclusion	NOUN
fsr-3259	30	3	,	,	PUNCT
fsr-3259	30	4	the	the	DET
fsr-3259	30	5	fund	fund	NOUN
fsr-3259	30	6	commonalities	commonality	NOUN
fsr-3259	30	7	are	be	AUX
fsr-3259	30	8	conservatively	conservatively	ADV
fsr-3259	30	9	evaluated	evaluate	VERB
fsr-3259	30	10	.	.	PUNCT
fsr-3259	31	1	we	we	PRON
fsr-3259	31	2	analyze	analyze	VERB
fsr-3259	31	3	154	154	NUM
fsr-3259	31	4	actively	actively	ADV
fsr-3259	31	5	managed	manage	VERB
fsr-3259	31	6	u.s	u.s	PROPN
fsr-3259	31	7	.	.	PROPN
fsr-3259	31	8	equity	equity	NOUN
fsr-3259	31	9	funds	fund	NOUN
fsr-3259	31	10	from	from	ADP
fsr-3259	31	11	46	46	NUM
fsr-3259	31	12	fund	fund	NOUN
fsr-3259	31	13	families	family	NOUN
fsr-3259	31	14	for	for	ADP
fsr-3259	31	15	the	the	DET
fsr-3259	31	16	period	period	NOUN
fsr-3259	31	17	of	of	ADP
fsr-3259	31	18	2001	2001	NUM
fsr-3259	31	19	to	to	ADP
fsr-3259	31	20	2006	2006	NUM
fsr-3259	31	21	,	,	PUNCT
fsr-3259	31	22	reconciling	reconcile	VERB
fsr-3259	31	23	key	key	ADJ
fsr-3259	31	24	data	datum	NOUN
fsr-3259	31	25	items	item	NOUN
fsr-3259	31	26	(	(	PUNCT
fsr-3259	31	27	such	such	ADJ
fsr-3259	31	28	as	as	ADP
fsr-3259	31	29	a	a	DET
fsr-3259	31	30	fund	fund	NOUN
fsr-3259	31	31	’s	’s	PART
fsr-3259	31	32	stock	stock	NOUN
fsr-3259	31	33	holdings	holding	NOUN
fsr-3259	31	34	and	and	CCONJ
fsr-3259	31	35	managers	manager	NOUN
fsr-3259	31	36	)	)	PUNCT
fsr-3259	31	37	in	in	ADP
fsr-3259	31	38	the	the	DET
fsr-3259	31	39	center	center	NOUN
fsr-3259	31	40	for	for	ADP
fsr-3259	31	41	research	research	NOUN
fsr-3259	31	42	in	in	ADP
fsr-3259	31	43	security	security	NOUN
fsr-3259	31	44	prices	price	NOUN
fsr-3259	31	45	(	(	PUNCT
fsr-3259	31	46	crsp	crsp	NOUN
fsr-3259	31	47	)	)	PUNCT
fsr-3259	31	48	,	,	PUNCT
fsr-3259	31	49	the	the	DET
fsr-3259	31	50	thomson	thomson	NOUN
fsr-3259	31	51	financial	financial	PROPN
fsr-3259	31	52	mutual	mutual	ADJ
fsr-3259	31	53	fund	fund	NOUN
fsr-3259	31	54	holdings	holding	NOUN
fsr-3259	31	55	,	,	PUNCT
fsr-3259	31	56	and	and	CCONJ
fsr-3259	31	57	the	the	DET
fsr-3259	31	58	morningstar	morningstar	NOUN
fsr-3259	31	59	databases	database	NOUN
fsr-3259	31	60	.	.	PUNCT
fsr-3259	32	1	we	we	PRON
fsr-3259	32	2	find	find	VERB
fsr-3259	32	3	that	that	SCONJ
fsr-3259	32	4	common	common	ADJ
fsr-3259	32	5	stock	stock	NOUN
fsr-3259	32	6	holdings	holding	NOUN
fsr-3259	32	7	and	and	CCONJ
fsr-3259	32	8	multi	multi	ADJ
fsr-3259	32	9	-	-	ADJ
fsr-3259	32	10	fund	fund	ADJ
fsr-3259	32	11	management	management	NOUN
fsr-3259	32	12	are	be	AUX
fsr-3259	32	13	negatively	negatively	ADV
fsr-3259	32	14	related	relate	VERB
fsr-3259	32	15	to	to	PART
fsr-3259	32	16	fund	fund	VERB
fsr-3259	32	17	operating	operating	NOUN
fsr-3259	32	18	expenses	expense	NOUN
fsr-3259	32	19	but	but	CCONJ
fsr-3259	32	20	positively	positively	ADV
fsr-3259	32	21	related	relate	VERB
fsr-3259	32	22	to	to	ADP
fsr-3259	32	23	the	the	DET
fsr-3259	32	24	correlation	correlation	NOUN
fsr-3259	32	25	of	of	ADP
fsr-3259	32	26	fund	fund	NOUN
fsr-3259	32	27	return	return	NOUN
fsr-3259	32	28	residuals	residual	NOUN
fsr-3259	32	29	,	,	PUNCT
fsr-3259	32	30	which	which	PRON
fsr-3259	32	31	increases	increase	VERB
fsr-3259	32	32	the	the	DET
fsr-3259	32	33	correlation	correlation	NOUN
fsr-3259	32	34	of	of	ADP
fsr-3259	32	35	fund	fund	NOUN
fsr-3259	32	36	returns	return	NOUN
fsr-3259	32	37	.	.	PUNCT
fsr-3259	33	1	for	for	ADP
fsr-3259	33	2	a	a	DET
fsr-3259	33	3	portfolio	portfolio	NOUN
fsr-3259	33	4	that	that	PRON
fsr-3259	33	5	is	be	AUX
fsr-3259	33	6	constructed	construct	VERB
fsr-3259	33	7	with	with	ADP
fsr-3259	33	8	funds	fund	NOUN
fsr-3259	33	9	in	in	ADP
fsr-3259	33	10	the	the	DET
fsr-3259	33	11	same	same	ADJ
fsr-3259	33	12	family	family	NOUN
fsr-3259	33	13	,	,	PUNCT
fsr-3259	33	14	the	the	DET
fsr-3259	33	15	findings	finding	NOUN
fsr-3259	33	16	indicate	indicate	VERB
fsr-3259	33	17	that	that	SCONJ
fsr-3259	33	18	an	an	DET
fsr-3259	33	19	increase	increase	NOUN
fsr-3259	33	20	in	in	ADP
fsr-3259	33	21	a	a	DET
fsr-3259	33	22	portfolio	portfolio	NOUN
fsr-3259	33	23	’s	’s	PART
fsr-3259	33	24	risk	risk	NOUN
fsr-3259	33	25	-	-	PUNCT
fsr-3259	33	26	adjusted	adjust	VERB
fsr-3259	33	27	return	return	NOUN
fsr-3259	33	28	net	net	NOUN
fsr-3259	33	29	of	of	ADP
fsr-3259	33	30	expenses	expense	NOUN
fsr-3259	33	31	(	(	PUNCT
fsr-3259	33	32	such	such	ADJ
fsr-3259	33	33	as	as	ADP
fsr-3259	33	34	a	a	DET
fsr-3259	33	35	sharpe	sharpe	NOUN
fsr-3259	33	36	ratio	ratio	NOUN
fsr-3259	33	37	using	use	VERB
fsr-3259	33	38	expenseadjusted	expenseadjusted	ADJ
fsr-3259	33	39	returns	return	NOUN
fsr-3259	33	40	)	)	PUNCT
fsr-3259	33	41	because	because	SCONJ
fsr-3259	33	42	of	of	ADP
fsr-3259	33	43	decreased	decrease	VERB
fsr-3259	33	44	fund	fund	NOUN
fsr-3259	33	45	operating	operating	NOUN
fsr-3259	33	46	expenses	expense	NOUN
fsr-3259	33	47	can	can	AUX
fsr-3259	33	48	be	be	AUX
fsr-3259	33	49	wiped	wipe	VERB
fsr-3259	33	50	out	out	ADP
fsr-3259	33	51	by	by	ADP
fsr-3259	33	52	an	an	DET
fsr-3259	33	53	increase	increase	NOUN
fsr-3259	33	54	in	in	ADP
fsr-3259	33	55	the	the	DET
fsr-3259	33	56	portfolio	portfolio	NOUN
fsr-3259	33	57	risk	risk	NOUN
fsr-3259	33	58	because	because	SCONJ
fsr-3259	33	59	of	of	ADP
fsr-3259	33	60	increased	increase	VERB
fsr-3259	33	61	return	return	NOUN
fsr-3259	33	62	correlations	correlation	NOUN
fsr-3259	33	63	.	.	PUNCT
fsr-3259	34	1	because	because	SCONJ
fsr-3259	34	2	of	of	ADP
fsr-3259	34	3	the	the	DET
fsr-3259	34	4	opposite	opposite	ADJ
fsr-3259	34	5	effects	effect	NOUN
fsr-3259	34	6	on	on	ADP
fsr-3259	34	7	a	a	DET
fsr-3259	34	8	portfolio	portfolio	NOUN
fsr-3259	34	9	’s	’s	PART
fsr-3259	34	10	risk	risk	NOUN
fsr-3259	34	11	-	-	PUNCT
fsr-3259	34	12	adjusted	adjust	VERB
fsr-3259	34	13	return	return	NOUN
fsr-3259	34	14	,	,	PUNCT
fsr-3259	34	15	we	we	PRON
fsr-3259	34	16	additionally	additionally	ADV
fsr-3259	34	17	investigate	investigate	VERB
fsr-3259	34	18	the	the	DET
fsr-3259	34	19	effects	effect	NOUN
fsr-3259	34	20	of	of	ADP
fsr-3259	34	21	the	the	DET
fsr-3259	34	22	fund	fund	NOUN
fsr-3259	34	23	commonalities	commonality	NOUN
fsr-3259	34	24	on	on	ADP
fsr-3259	34	25	risk	risk	NOUN
fsr-3259	34	26	-	-	PUNCT
fsr-3259	34	27	adjusted	adjust	VERB
fsr-3259	34	28	returns	return	NOUN
fsr-3259	34	29	of	of	ADP
fsr-3259	34	30	a	a	DET
fsr-3259	34	31	portfolio	portfolio	NOUN
fsr-3259	34	32	that	that	PRON
fsr-3259	34	33	consists	consist	VERB
fsr-3259	34	34	of	of	ADP
fsr-3259	34	35	equity	equity	NOUN
fsr-3259	34	36	funds	fund	NOUN
fsr-3259	34	37	with	with	ADP
fsr-3259	34	38	different	different	ADJ
fsr-3259	34	39	investment	investment	NOUN
fsr-3259	34	40	objectives	objective	NOUN
fsr-3259	34	41	and	and	CCONJ
fsr-3259	34	42	find	find	VERB
fsr-3259	34	43	that	that	SCONJ
fsr-3259	34	44	the	the	DET
fsr-3259	34	45	fund	fund	NOUN
fsr-3259	34	46	commonalities	commonality	NOUN
fsr-3259	34	47	can	can	AUX
fsr-3259	34	48	have	have	VERB
fsr-3259	34	49	negative	negative	ADJ
fsr-3259	34	50	net	net	ADJ
fsr-3259	34	51	effects	effect	NOUN
fsr-3259	34	52	on	on	ADP
fsr-3259	34	53	risk	risk	NOUN
fsr-3259	34	54	-	-	PUNCT
fsr-3259	34	55	adjusted	adjust	VERB
fsr-3259	34	56	returns	return	NOUN
fsr-3259	34	57	of	of	ADP
fsr-3259	34	58	the	the	DET
fsr-3259	34	59	portfolio	portfolio	NOUN
fsr-3259	34	60	.	.	PUNCT
fsr-3259	35	1	our	our	PRON
fsr-3259	35	2	findings	finding	NOUN
fsr-3259	35	3	contribute	contribute	VERB
fsr-3259	35	4	to	to	ADP
fsr-3259	35	5	the	the	DET
fsr-3259	35	6	financial	financial	ADJ
fsr-3259	35	7	services	service	NOUN
fsr-3259	35	8	literature	literature	NOUN
fsr-3259	35	9	in	in	ADP
fsr-3259	35	10	three	three	NUM
fsr-3259	35	11	ways	way	NOUN
fsr-3259	35	12	.	.	PUNCT
fsr-3259	36	1	first	first	ADV
fsr-3259	36	2	,	,	PUNCT
fsr-3259	36	3	we	we	PRON
fsr-3259	36	4	expand	expand	VERB
fsr-3259	36	5	previous	previous	ADJ
fsr-3259	36	6	research	research	NOUN
fsr-3259	36	7	on	on	ADP
fsr-3259	36	8	mutual	mutual	ADJ
fsr-3259	36	9	fund	fund	NOUN
fsr-3259	36	10	expenses	expense	NOUN
fsr-3259	36	11	by	by	ADP
fsr-3259	36	12	showing	show	VERB
fsr-3259	36	13	that	that	SCONJ
fsr-3259	36	14	a	a	DET
fsr-3259	36	15	fund	fund	NOUN
fsr-3259	36	16	’s	’s	PART
fsr-3259	36	17	operating	operate	VERB
fsr-3259	36	18	expense	expense	NOUN
fsr-3259	36	19	can	can	AUX
fsr-3259	36	20	be	be	AUX
fsr-3259	36	21	reduced	reduce	VERB
fsr-3259	36	22	by	by	ADP
fsr-3259	36	23	its	its	PRON
fsr-3259	36	24	common	common	ADJ
fsr-3259	36	25	stock	stock	NOUN
fsr-3259	36	26	holdings	holding	NOUN
fsr-3259	36	27	and	and	CCONJ
fsr-3259	36	28	managers	manager	NOUN
fsr-3259	36	29	who	who	PRON
fsr-3259	36	30	simultaneously	simultaneously	ADV
fsr-3259	36	31	manage	manage	VERB
fsr-3259	36	32	other	other	ADJ
fsr-3259	36	33	funds	fund	NOUN
fsr-3259	36	34	in	in	ADP
fsr-3259	36	35	the	the	DET
fsr-3259	36	36	family	family	NOUN
fsr-3259	36	37	.	.	PUNCT
fsr-3259	37	1	second	second	ADJ
fsr-3259	37	2	,	,	PUNCT
fsr-3259	37	3	we	we	PRON
fsr-3259	37	4	extend	extend	VERB
fsr-3259	37	5	extant	extant	ADJ
fsr-3259	37	6	research	research	NOUN
fsr-3259	37	7	on	on	ADP
fsr-3259	37	8	interfamily	interfamily	ADJ
fsr-3259	37	9	dynamics	dynamic	NOUN
fsr-3259	37	10	by	by	ADP
fsr-3259	37	11	showing	show	VERB
fsr-3259	37	12	that	that	SCONJ
fsr-3259	37	13	the	the	DET
fsr-3259	37	14	fund	fund	NOUN
fsr-3259	37	15	commonalities	commonality	NOUN
fsr-3259	37	16	within	within	ADP
fsr-3259	37	17	a	a	DET
fsr-3259	37	18	family	family	NOUN
fsr-3259	37	19	can	can	AUX
fsr-3259	37	20	deteriorate	deteriorate	VERB
fsr-3259	37	21	an	an	DET
fsr-3259	37	22	investor	investor	NOUN
fsr-3259	37	23	’s	’s	PART
fsr-3259	37	24	portfolio	portfolio	NOUN
fsr-3259	37	25	diversification	diversification	NOUN
fsr-3259	37	26	by	by	ADP
fsr-3259	37	27	increasing	increase	VERB
fsr-3259	37	28	the	the	DET
fsr-3259	37	29	correlation	correlation	NOUN
fsr-3259	37	30	of	of	ADP
fsr-3259	37	31	fund	fund	NOUN
fsr-3259	37	32	returns	return	NOUN
fsr-3259	37	33	.	.	PUNCT
fsr-3259	38	1	third	third	ADV
fsr-3259	38	2	,	,	PUNCT
fsr-3259	38	3	our	our	PRON
fsr-3259	38	4	findings	finding	NOUN
fsr-3259	38	5	provide	provide	VERB
fsr-3259	38	6	practical	practical	ADJ
fsr-3259	38	7	implications	implication	NOUN
fsr-3259	38	8	to	to	ADP
fsr-3259	38	9	individual	individual	ADJ
fsr-3259	38	10	mutual	mutual	ADJ
fsr-3259	38	11	fund	fund	NOUN
fsr-3259	38	12	investors	investor	NOUN
fsr-3259	38	13	.	.	PUNCT
fsr-3259	39	1	when	when	SCONJ
fsr-3259	39	2	individual	individual	ADJ
fsr-3259	39	3	investors	investor	NOUN
fsr-3259	39	4	construct	construct	VERB
fsr-3259	39	5	a	a	DET
fsr-3259	39	6	portfolio	portfolio	NOUN
fsr-3259	39	7	with	with	ADP
fsr-3259	39	8	low	low	ADJ
fsr-3259	39	9	-	-	PUNCT
fsr-3259	39	10	cost	cost	NOUN
fsr-3259	39	11	equity	equity	NOUN
fsr-3259	39	12	funds	fund	NOUN
fsr-3259	39	13	within	within	ADP
fsr-3259	39	14	a	a	DET
fsr-3259	39	15	family	family	NOUN
fsr-3259	39	16	,	,	PUNCT
fsr-3259	39	17	they	they	PRON
fsr-3259	39	18	should	should	AUX
fsr-3259	39	19	be	be	AUX
fsr-3259	39	20	aware	aware	ADJ
fsr-3259	39	21	of	of	ADP
fsr-3259	39	22	an	an	DET
fsr-3259	39	23	investment	investment	NOUN
fsr-3259	39	24	risk	risk	NOUN
fsr-3259	39	25	that	that	PRON
fsr-3259	39	26	fund	fund	VERB
fsr-3259	39	27	commonalities	commonality	NOUN
fsr-3259	39	28	that	that	PRON
fsr-3259	39	29	lower	low	ADJ
fsr-3259	39	30	fund	fund	NOUN
fsr-3259	39	31	operating	operating	NOUN
fsr-3259	39	32	expenses	expense	NOUN
fsr-3259	39	33	can	can	AUX
fsr-3259	39	34	increase	increase	VERB
fsr-3259	39	35	fund	fund	NOUN
fsr-3259	39	36	return	return	NOUN
fsr-3259	39	37	correlations	correlation	NOUN
fsr-3259	39	38	and	and	CCONJ
fsr-3259	39	39	thereby	thereby	ADV
fsr-3259	39	40	can	can	AUX
fsr-3259	39	41	reduce	reduce	VERB
fsr-3259	39	42	the	the	DET
fsr-3259	39	43	portfolio	portfolio	NOUN
fsr-3259	39	44	’s	’s	PART
fsr-3259	39	45	risk	risk	NOUN
fsr-3259	39	46	-	-	PUNCT
fsr-3259	39	47	adjusted	adjust	VERB
fsr-3259	39	48	return	return	NOUN
fsr-3259	39	49	.	.	PUNCT
fsr-3259	40	1	the	the	DET
fsr-3259	40	2	remainder	remainder	NOUN
fsr-3259	40	3	of	of	ADP
fsr-3259	40	4	the	the	DET
fsr-3259	40	5	article	article	NOUN
fsr-3259	40	6	is	be	AUX
fsr-3259	40	7	organized	organize	VERB
fsr-3259	40	8	as	as	SCONJ
fsr-3259	40	9	follows	follow	VERB
fsr-3259	40	10	.	.	PUNCT
fsr-3259	41	1	section	section	NOUN
fsr-3259	41	2	2	2	NUM
fsr-3259	41	3	addresses	address	NOUN
fsr-3259	41	4	hypotheses	hypothesis	NOUN
fsr-3259	41	5	on	on	ADP
fsr-3259	41	6	relations	relation	NOUN
fsr-3259	41	7	between	between	ADP
fsr-3259	41	8	fund	fund	NOUN
fsr-3259	41	9	commonalities	commonality	NOUN
fsr-3259	41	10	and	and	CCONJ
fsr-3259	41	11	operating	operating	NOUN
fsr-3259	41	12	expense	expense	NOUN
fsr-3259	41	13	and	and	CCONJ
fsr-3259	41	14	between	between	ADP
fsr-3259	41	15	fund	fund	NOUN
fsr-3259	41	16	commonalities	commonality	NOUN
fsr-3259	41	17	and	and	CCONJ
fsr-3259	41	18	return	return	NOUN
fsr-3259	41	19	correlations	correlation	NOUN
fsr-3259	41	20	.	.	PUNCT
fsr-3259	42	1	section	section	NOUN
fsr-3259	42	2	3	3	NUM
fsr-3259	42	3	describes	describe	VERB
fsr-3259	42	4	the	the	DET
fsr-3259	42	5	data	datum	NOUN
fsr-3259	42	6	and	and	CCONJ
fsr-3259	42	7	the	the	DET
fsr-3259	42	8	sample	sample	NOUN
fsr-3259	42	9	.	.	PUNCT
fsr-3259	43	1	section	section	NOUN
fsr-3259	43	2	4	4	NUM
fsr-3259	43	3	presents	present	VERB
fsr-3259	43	4	the	the	DET
fsr-3259	43	5	methodology	methodology	NOUN
fsr-3259	43	6	.	.	PUNCT
fsr-3259	44	1	section	section	NOUN
fsr-3259	44	2	5	5	NUM
fsr-3259	44	3	presents	present	VERB
fsr-3259	44	4	empirical	empirical	ADJ
fsr-3259	44	5	findings	finding	NOUN
fsr-3259	44	6	.	.	PUNCT
fsr-3259	45	1	section	section	NOUN
fsr-3259	45	2	6	6	NUM
fsr-3259	45	3	concludes	conclude	VERB
fsr-3259	45	4	with	with	ADP
fsr-3259	45	5	a	a	DET
fsr-3259	45	6	summary	summary	NOUN
fsr-3259	45	7	of	of	ADP
fsr-3259	45	8	findings	finding	NOUN
fsr-3259	45	9	and	and	CCONJ
fsr-3259	45	10	implications	implication	NOUN
fsr-3259	45	11	for	for	ADP
fsr-3259	45	12	individual	individual	ADJ
fsr-3259	45	13	mutual	mutual	ADJ
fsr-3259	45	14	fund	fund	NOUN
fsr-3259	45	15	investors	investor	NOUN
fsr-3259	45	16	.	.	PUNCT
fsr-3259	46	1	2	2	X
fsr-3259	46	2	.	.	X
fsr-3259	46	3	fund	fund	NOUN
fsr-3259	46	4	commonalities	commonality	NOUN
fsr-3259	46	5	,	,	PUNCT
fsr-3259	46	6	operating	operating	NOUN
fsr-3259	46	7	expense	expense	NOUN
fsr-3259	46	8	,	,	PUNCT
fsr-3259	46	9	and	and	CCONJ
fsr-3259	46	10	return	return	VERB
fsr-3259	46	11	correlation	correlation	NOUN
fsr-3259	46	12	funds	fund	NOUN
fsr-3259	46	13	in	in	ADP
fsr-3259	46	14	a	a	DET
fsr-3259	46	15	family	family	NOUN
fsr-3259	46	16	may	may	AUX
fsr-3259	46	17	have	have	VERB
fsr-3259	46	18	common	common	ADJ
fsr-3259	46	19	features	feature	NOUN
fsr-3259	46	20	even	even	ADV
fsr-3259	46	21	if	if	SCONJ
fsr-3259	46	22	they	they	PRON
fsr-3259	46	23	have	have	VERB
fsr-3259	46	24	different	different	ADJ
fsr-3259	46	25	investment	investment	NOUN
fsr-3259	46	26	objectives	objective	NOUN
fsr-3259	46	27	(	(	PUNCT
fsr-3259	46	28	elton	elton	PROPN
fsr-3259	46	29	et	et	PROPN
fsr-3259	46	30	al	al	PROPN
fsr-3259	46	31	.	.	PROPN
fsr-3259	46	32	,	,	PUNCT
fsr-3259	46	33	2007	2007	NUM
fsr-3259	46	34	)	)	PUNCT
fsr-3259	46	35	.	.	PUNCT
fsr-3259	47	1	for	for	ADP
fsr-3259	47	2	example	example	NOUN
fsr-3259	47	3	,	,	PUNCT
fsr-3259	47	4	different	different	ADJ
fsr-3259	47	5	funds	fund	NOUN
fsr-3259	47	6	may	may	AUX
fsr-3259	47	7	hold	hold	VERB
fsr-3259	47	8	the	the	DET
fsr-3259	47	9	same	same	ADJ
fsr-3259	47	10	stocks	stock	NOUN
fsr-3259	47	11	as	as	ADP
fsr-3259	47	12	a	a	DET
fsr-3259	47	13	result	result	NOUN
fsr-3259	47	14	of	of	ADP
fsr-3259	47	15	fund	fund	NOUN
fsr-3259	47	16	managers	manager	NOUN
fsr-3259	47	17	’	’	PART
fsr-3259	47	18	common	common	ADJ
fsr-3259	47	19	view	view	NOUN
fsr-3259	47	20	on	on	ADP
fsr-3259	47	21	individual	individual	ADJ
fsr-3259	47	22	companies	company	NOUN
fsr-3259	47	23	from	from	ADP
fsr-3259	47	24	a	a	DET
fsr-3259	47	25	common	common	ADJ
fsr-3259	47	26	security	security	NOUN
fsr-3259	47	27	selection	selection	NOUN
fsr-3259	47	28	process	process	NOUN
fsr-3259	47	29	at	at	ADP
fsr-3259	47	30	a	a	DET
fsr-3259	47	31	family	family	NOUN
fsr-3259	47	32	level	level	NOUN
fsr-3259	47	33	(	(	PUNCT
fsr-3259	47	34	elton	elton	PROPN
fsr-3259	47	35	et	et	PROPN
fsr-3259	47	36	al	al	PROPN
fsr-3259	47	37	.	.	PROPN
fsr-3259	47	38	,	,	PUNCT
fsr-3259	47	39	2007	2007	NUM
fsr-3259	47	40	)	)	PUNCT
fsr-3259	47	41	or	or	CCONJ
fsr-3259	47	42	of	of	ADP
fsr-3259	47	43	fund	fund	NOUN
fsr-3259	47	44	managers	manager	NOUN
fsr-3259	47	45	’	'	PUNCT
fsr-3259	47	46	efforts	effort	NOUN
fsr-3259	47	47	to	to	PART
fsr-3259	47	48	reduce	reduce	VERB
fsr-3259	47	49	the	the	DET
fsr-3259	47	50	costs	cost	NOUN
fsr-3259	47	51	of	of	ADP
fsr-3259	47	52	monitoring	monitor	VERB
fsr-3259	47	53	the	the	DET
fsr-3259	47	54	performance	performance	NOUN
fsr-3259	47	55	of	of	ADP
fsr-3259	47	56	the	the	DET
fsr-3259	47	57	stocks	stock	NOUN
fsr-3259	47	58	held	hold	VERB
fsr-3259	47	59	in	in	ADP
fsr-3259	47	60	their	their	PRON
fsr-3259	47	61	portfolios	portfolio	NOUN
fsr-3259	47	62	(	(	PUNCT
fsr-3259	47	63	shawky	shawky	NOUN
fsr-3259	47	64	and	and	CCONJ
fsr-3259	47	65	smith	smith	PROPN
fsr-3259	47	66	,	,	PUNCT
fsr-3259	47	67	2005	2005	NUM
fsr-3259	47	68	)	)	PUNCT
fsr-3259	47	69	.	.	PUNCT
fsr-3259	48	1	in	in	ADP
fsr-3259	48	2	addition	addition	NOUN
fsr-3259	48	3	,	,	PUNCT
fsr-3259	48	4	different	different	ADJ
fsr-3259	48	5	funds	fund	NOUN
fsr-3259	48	6	may	may	AUX
fsr-3259	48	7	be	be	AUX
fsr-3259	48	8	managed	manage	VERB
fsr-3259	48	9	simultaneously	simultaneously	ADV
fsr-3259	48	10	by	by	ADP
fsr-3259	48	11	a	a	DET
fsr-3259	48	12	manager(s	manager(s	NOUN
fsr-3259	48	13	)	)	PUNCT
fsr-3259	48	14	in	in	ADP
fsr-3259	48	15	particular	particular	ADJ
fsr-3259	48	16	when	when	SCONJ
fsr-3259	48	17	the	the	DET
fsr-3259	48	18	manager(s	manager(s	NOUN
fsr-3259	48	19	)	)	PUNCT
fsr-3259	48	20	exhibits	exhibit	VERB
fsr-3259	48	21	superior	superior	ADJ
fsr-3259	48	22	past	past	ADJ
fsr-3259	48	23	performance	performance	NOUN
fsr-3259	48	24	(	(	PUNCT
fsr-3259	48	25	agarwal	agarwal	PROPN
fsr-3259	48	26	,	,	PUNCT
fsr-3259	48	27	ma	ma	PROPN
fsr-3259	48	28	,	,	PUNCT
fsr-3259	48	29	and	and	CCONJ
fsr-3259	48	30	mullally	mullally	NOUN
fsr-3259	48	31	,	,	PUNCT
fsr-3259	48	32	2015	2015	NUM
fsr-3259	48	33	)	)	PUNCT
fsr-3259	48	34	.	.	PUNCT
fsr-3259	49	1	these	these	DET
fsr-3259	49	2	common	common	ADJ
fsr-3259	49	3	features	feature	NOUN
fsr-3259	49	4	would	would	AUX
fsr-3259	49	5	increase	increase	VERB
fsr-3259	49	6	the	the	DET
fsr-3259	49	7	commonality	commonality	NOUN
fsr-3259	49	8	of	of	ADP
fsr-3259	49	9	funds	fund	NOUN
fsr-3259	49	10	in	in	ADP
fsr-3259	49	11	the	the	DET
fsr-3259	49	12	family	family	NOUN
fsr-3259	49	13	.	.	PUNCT
fsr-3259	50	1	the	the	DET
fsr-3259	50	2	increased	increase	VERB
fsr-3259	50	3	fund	fund	NOUN
fsr-3259	50	4	commonality	commonality	NOUN
fsr-3259	50	5	,	,	PUNCT
fsr-3259	50	6	in	in	ADP
fsr-3259	50	7	turn	turn	NOUN
fsr-3259	50	8	,	,	PUNCT
fsr-3259	50	9	may	may	AUX
fsr-3259	50	10	influence	influence	VERB
fsr-3259	50	11	the	the	DET
fsr-3259	50	12	characteristics	characteristic	NOUN
fsr-3259	50	13	of	of	ADP
fsr-3259	50	14	funds	fund	NOUN
fsr-3259	50	15	,	,	PUNCT
fsr-3259	50	16	such	such	ADJ
fsr-3259	50	17	as	as	ADP
fsr-3259	50	18	fund	fund	NOUN
fsr-3259	50	19	operating	operating	NOUN
fsr-3259	50	20	expenses	expense	NOUN
fsr-3259	50	21	and	and	CCONJ
fsr-3259	50	22	the	the	DET
fsr-3259	50	23	correlation	correlation	NOUN
fsr-3259	50	24	of	of	ADP
fsr-3259	50	25	fund	fund	NOUN
fsr-3259	50	26	returns	return	NOUN
fsr-3259	50	27	.	.	PUNCT
fsr-3259	51	1	31y	31y	NUM
fsr-3259	51	2	.	.	PUNCT
fsr-3259	52	1	park	park	NOUN
fsr-3259	52	2	/	/	SYM
fsr-3259	52	3	financial	financial	ADJ
fsr-3259	52	4	services	service	NOUN
fsr-3259	52	5	review	review	VERB
fsr-3259	52	6	25	25	NUM
fsr-3259	52	7	(	(	PUNCT
fsr-3259	52	8	2016	2016	NUM
fsr-3259	52	9	)	)	PUNCT
fsr-3259	52	10	29–49	29–49	NUM
fsr-3259	52	11	2.1	2.1	NUM
fsr-3259	52	12	.	.	PUNCT
fsr-3259	53	1	fund	fund	NOUN
fsr-3259	53	2	commonalities	commonality	NOUN
fsr-3259	53	3	and	and	CCONJ
fsr-3259	53	4	operating	operate	VERB
fsr-3259	53	5	expense	expense	NOUN
fsr-3259	53	6	mutual	mutual	ADJ
fsr-3259	53	7	funds	fund	NOUN
fsr-3259	53	8	incur	incur	VERB
fsr-3259	53	9	ongoing	ongoing	ADJ
fsr-3259	53	10	charges	charge	NOUN
fsr-3259	53	11	for	for	ADP
fsr-3259	53	12	managing	manage	VERB
fsr-3259	53	13	fund	fund	NOUN
fsr-3259	53	14	assets	asset	NOUN
fsr-3259	53	15	.	.	PUNCT
fsr-3259	54	1	fund	fund	NOUN
fsr-3259	54	2	expenses	expense	NOUN
fsr-3259	54	3	paid	pay	VERB
fsr-3259	54	4	out	out	ADP
fsr-3259	54	5	of	of	ADP
fsr-3259	54	6	fund	fund	NOUN
fsr-3259	54	7	assets	asset	NOUN
fsr-3259	54	8	consist	consist	VERB
fsr-3259	54	9	of	of	ADP
fsr-3259	54	10	three	three	NUM
fsr-3259	54	11	broad	broad	ADJ
fsr-3259	54	12	components	component	NOUN
fsr-3259	54	13	:	:	PUNCT
fsr-3259	54	14	management	management	NOUN
fsr-3259	54	15	fees	fee	NOUN
fsr-3259	54	16	,	,	PUNCT
fsr-3259	54	17	other	other	ADJ
fsr-3259	54	18	expenses	expense	NOUN
fsr-3259	54	19	including	include	VERB
fsr-3259	54	20	administrative	administrative	ADJ
fsr-3259	54	21	fees	fee	NOUN
fsr-3259	54	22	,	,	PUNCT
fsr-3259	54	23	and	and	CCONJ
fsr-3259	54	24	12b-1	12b-1	NUM
fsr-3259	54	25	fees	fee	NOUN
fsr-3259	54	26	(	(	PUNCT
fsr-3259	54	27	collins	collin	NOUN
fsr-3259	54	28	,	,	PUNCT
fsr-3259	54	29	2003	2003	NUM
fsr-3259	54	30	;	;	PUNCT
fsr-3259	54	31	khorana	khorana	PROPN
fsr-3259	54	32	&	&	CCONJ
fsr-3259	54	33	servaes	servaes	PROPN
fsr-3259	54	34	,	,	PUNCT
fsr-3259	54	35	2007	2007	NUM
fsr-3259	54	36	;	;	PUNCT
fsr-3259	54	37	latzko	latzko	PROPN
fsr-3259	54	38	,	,	PUNCT
fsr-3259	54	39	1999	1999	NUM
fsr-3259	54	40	)	)	PUNCT
fsr-3259	54	41	.	.	PUNCT
fsr-3259	55	1	the	the	DET
fsr-3259	55	2	first	first	ADJ
fsr-3259	55	3	and	and	CCONJ
fsr-3259	55	4	typically	typically	ADV
fsr-3259	55	5	largest	large	ADJ
fsr-3259	55	6	is	be	AUX
fsr-3259	55	7	the	the	DET
fsr-3259	55	8	management	management	NOUN
fsr-3259	55	9	fee	fee	NOUN
fsr-3259	55	10	paid	pay	VERB
fsr-3259	55	11	to	to	ADP
fsr-3259	55	12	a	a	DET
fsr-3259	55	13	fund	fund	NOUN
fsr-3259	55	14	manager	manager	NOUN
fsr-3259	55	15	,	,	PUNCT
fsr-3259	55	16	which	which	PRON
fsr-3259	55	17	compensates	compensate	VERB
fsr-3259	55	18	a	a	DET
fsr-3259	55	19	fund	fund	NOUN
fsr-3259	55	20	manager	manager	NOUN
fsr-3259	55	21	for	for	ADP
fsr-3259	55	22	expenses	expense	NOUN
fsr-3259	55	23	incurred	incur	VERB
fsr-3259	55	24	in	in	ADP
fsr-3259	55	25	providing	provide	VERB
fsr-3259	55	26	services	service	NOUN
fsr-3259	55	27	,	,	PUNCT
fsr-3259	55	28	including	include	VERB
fsr-3259	55	29	asset	asset	NOUN
fsr-3259	55	30	allocation	allocation	NOUN
fsr-3259	55	31	and	and	CCONJ
fsr-3259	55	32	security	security	NOUN
fsr-3259	55	33	selection	selection	NOUN
fsr-3259	55	34	.	.	PUNCT
fsr-3259	56	1	the	the	DET
fsr-3259	56	2	second	second	ADJ
fsr-3259	56	3	is	be	AUX
fsr-3259	56	4	other	other	ADJ
fsr-3259	56	5	expenses	expense	NOUN
fsr-3259	56	6	including	include	VERB
fsr-3259	56	7	administrative	administrative	ADJ
fsr-3259	56	8	fees	fee	NOUN
fsr-3259	56	9	,	,	PUNCT
fsr-3259	56	10	which	which	PRON
fsr-3259	56	11	mainly	mainly	ADV
fsr-3259	56	12	relate	relate	VERB
fsr-3259	56	13	to	to	ADP
fsr-3259	56	14	recordkeeping	recordkeeping	NOUN
fsr-3259	56	15	and	and	CCONJ
fsr-3259	56	16	transactions	transaction	NOUN
fsr-3259	56	17	services	service	NOUN
fsr-3259	56	18	to	to	PART
fsr-3259	56	19	shareholders.2	shareholders.2	VERB
fsr-3259	56	20	the	the	DET
fsr-3259	56	21	third	third	NOUN
fsr-3259	56	22	is	be	AUX
fsr-3259	56	23	the	the	DET
fsr-3259	56	24	12b-1	12b-1	NUM
fsr-3259	56	25	fees	fee	NOUN
fsr-3259	56	26	spent	spend	VERB
fsr-3259	56	27	on	on	ADP
fsr-3259	56	28	advertising	advertising	NOUN
fsr-3259	56	29	,	,	PUNCT
fsr-3259	56	30	marketing	marketing	NOUN
fsr-3259	56	31	,	,	PUNCT
fsr-3259	56	32	and	and	CCONJ
fsr-3259	56	33	distribution	distribution	NOUN
fsr-3259	56	34	services	service	NOUN
fsr-3259	56	35	or	or	CCONJ
fsr-3259	56	36	commissions	commission	NOUN
fsr-3259	56	37	to	to	ADP
fsr-3259	56	38	brokers	broker	NOUN
fsr-3259	56	39	.	.	PUNCT
fsr-3259	57	1	a	a	DET
fsr-3259	57	2	fund	fund	NOUN
fsr-3259	57	3	’s	’s	PART
fsr-3259	57	4	expense	expense	NOUN
fsr-3259	57	5	ratio	ratio	NOUN
fsr-3259	57	6	may	may	AUX
fsr-3259	57	7	matter	matter	VERB
fsr-3259	57	8	to	to	PART
fsr-3259	57	9	fund	fund	VERB
fsr-3259	57	10	families	family	NOUN
fsr-3259	57	11	that	that	PRON
fsr-3259	57	12	want	want	VERB
fsr-3259	57	13	to	to	PART
fsr-3259	57	14	increase	increase	VERB
fsr-3259	57	15	assets	asset	NOUN
fsr-3259	57	16	under	under	ADP
fsr-3259	57	17	management	management	NOUN
fsr-3259	57	18	because	because	SCONJ
fsr-3259	57	19	mutual	mutual	ADJ
fsr-3259	57	20	fund	fund	NOUN
fsr-3259	57	21	investors	investor	NOUN
fsr-3259	57	22	increasingly	increasingly	ADV
fsr-3259	57	23	purchase	purchase	VERB
fsr-3259	57	24	funds	fund	NOUN
fsr-3259	57	25	with	with	ADP
fsr-3259	57	26	low	low	ADJ
fsr-3259	57	27	expenses	expense	NOUN
fsr-3259	57	28	(	(	PUNCT
fsr-3259	57	29	khorana	khorana	PROPN
fsr-3259	57	30	&	&	CCONJ
fsr-3259	57	31	servaes	servaes	PROPN
fsr-3259	57	32	,	,	PUNCT
fsr-3259	57	33	2007	2007	NUM
fsr-3259	57	34	)	)	PUNCT
fsr-3259	57	35	.	.	PUNCT
fsr-3259	58	1	for	for	ADP
fsr-3259	58	2	example	example	NOUN
fsr-3259	58	3	,	,	PUNCT
fsr-3259	58	4	collins	collins	PROPN
fsr-3259	58	5	(	(	PUNCT
fsr-3259	58	6	2007	2007	NUM
fsr-3259	58	7	)	)	PUNCT
fsr-3259	58	8	documents	document	NOUN
fsr-3259	58	9	that	that	SCONJ
fsr-3259	58	10	90	90	NUM
fsr-3259	58	11	%	%	NOUN
fsr-3259	58	12	of	of	ADP
fsr-3259	58	13	net	net	ADJ
fsr-3259	58	14	new	new	ADJ
fsr-3259	58	15	cash	cash	NOUN
fsr-3259	58	16	flow	flow	NOUN
fsr-3259	58	17	to	to	ADP
fsr-3259	58	18	stock	stock	NOUN
fsr-3259	58	19	funds	fund	NOUN
fsr-3259	58	20	went	go	VERB
fsr-3259	58	21	to	to	ADP
fsr-3259	58	22	those	those	DET
fsr-3259	58	23	funds	fund	NOUN
fsr-3259	58	24	whose	whose	DET
fsr-3259	58	25	expense	expense	NOUN
fsr-3259	58	26	ratios	ratio	NOUN
fsr-3259	58	27	were	be	AUX
fsr-3259	58	28	below	below	ADP
fsr-3259	58	29	the	the	DET
fsr-3259	58	30	average	average	ADJ
fsr-3259	58	31	expense	expense	NOUN
fsr-3259	58	32	ratio	ratio	NOUN
fsr-3259	58	33	of	of	ADP
fsr-3259	58	34	stock	stock	NOUN
fsr-3259	58	35	funds	fund	NOUN
fsr-3259	58	36	offered	offer	VERB
fsr-3259	58	37	in	in	ADP
fsr-3259	58	38	the	the	DET
fsr-3259	58	39	marketplace	marketplace	NOUN
fsr-3259	58	40	from	from	ADP
fsr-3259	58	41	1997	1997	NUM
fsr-3259	58	42	to	to	ADP
fsr-3259	58	43	2006	2006	NUM
fsr-3259	58	44	.	.	PUNCT
fsr-3259	59	1	thus	thus	ADV
fsr-3259	59	2	,	,	PUNCT
fsr-3259	59	3	fund	fund	NOUN
fsr-3259	59	4	families	family	NOUN
fsr-3259	59	5	or	or	CCONJ
fsr-3259	59	6	managers	manager	NOUN
fsr-3259	59	7	may	may	AUX
fsr-3259	59	8	increase	increase	VERB
fsr-3259	59	9	their	their	PRON
fsr-3259	59	10	efforts	effort	NOUN
fsr-3259	59	11	to	to	PART
fsr-3259	59	12	reduce	reduce	VERB
fsr-3259	59	13	a	a	DET
fsr-3259	59	14	fund	fund	NOUN
fsr-3259	59	15	’s	’s	PART
fsr-3259	59	16	expense	expense	NOUN
fsr-3259	59	17	ratio	ratio	NOUN
fsr-3259	59	18	.	.	PUNCT
fsr-3259	60	1	we	we	PRON
fsr-3259	60	2	focus	focus	VERB
fsr-3259	60	3	on	on	ADP
fsr-3259	60	4	fund	fund	NOUN
fsr-3259	60	5	operating	operating	NOUN
fsr-3259	60	6	expenses	expense	NOUN
fsr-3259	60	7	,	,	PUNCT
fsr-3259	60	8	defined	define	VERB
fsr-3259	60	9	by	by	ADP
fsr-3259	60	10	fund	fund	NOUN
fsr-3259	60	11	expenses	expense	NOUN
fsr-3259	60	12	net	net	NOUN
fsr-3259	60	13	of	of	ADP
fsr-3259	60	14	12b-1	12b-1	NUM
fsr-3259	60	15	fees	fee	NOUN
fsr-3259	60	16	,	,	PUNCT
fsr-3259	60	17	because	because	SCONJ
fsr-3259	60	18	fund	fund	NOUN
fsr-3259	60	19	operating	operating	NOUN
fsr-3259	60	20	expenses	expense	NOUN
fsr-3259	60	21	account	account	VERB
fsr-3259	60	22	for	for	ADP
fsr-3259	60	23	the	the	DET
fsr-3259	60	24	largest	large	ADJ
fsr-3259	60	25	share	share	NOUN
fsr-3259	60	26	of	of	ADP
fsr-3259	60	27	a	a	DET
fsr-3259	60	28	fund	fund	NOUN
fsr-3259	60	29	’s	’s	PART
fsr-3259	60	30	expense	expense	NOUN
fsr-3259	60	31	ratio	ratio	NOUN
fsr-3259	60	32	(	(	PUNCT
fsr-3259	60	33	collins	collin	NOUN
fsr-3259	60	34	,	,	PUNCT
fsr-3259	60	35	2003	2003	NUM
fsr-3259	60	36	)	)	PUNCT
fsr-3259	60	37	and	and	CCONJ
fsr-3259	60	38	because	because	SCONJ
fsr-3259	60	39	12b-1	12b-1	NUM
fsr-3259	60	40	fees	fee	NOUN
fsr-3259	60	41	are	be	AUX
fsr-3259	60	42	mainly	mainly	ADV
fsr-3259	60	43	related	relate	VERB
fsr-3259	60	44	to	to	ADP
fsr-3259	60	45	distribution	distribution	NOUN
fsr-3259	60	46	fees	fee	NOUN
fsr-3259	60	47	for	for	ADP
fsr-3259	60	48	the	the	DET
fsr-3259	60	49	services	service	NOUN
fsr-3259	60	50	provided	provide	VERB
fsr-3259	60	51	by	by	ADP
fsr-3259	60	52	brokers	broker	NOUN
fsr-3259	60	53	rather	rather	ADV
fsr-3259	60	54	than	than	ADP
fsr-3259	60	55	the	the	DET
fsr-3259	60	56	services	service	NOUN
fsr-3259	60	57	by	by	ADP
fsr-3259	60	58	fund	fund	NOUN
fsr-3259	60	59	families	family	NOUN
fsr-3259	60	60	(	(	PUNCT
fsr-3259	60	61	ici	ici	PROPN
fsr-3259	60	62	,	,	PUNCT
fsr-3259	60	63	2015	2015	NUM
fsr-3259	60	64	)	)	PUNCT
fsr-3259	60	65	.	.	PUNCT
fsr-3259	61	1	fund	fund	NOUN
fsr-3259	61	2	operating	operating	NOUN
fsr-3259	61	3	expenses	expense	NOUN
fsr-3259	61	4	,	,	PUNCT
fsr-3259	61	5	consisting	consist	VERB
fsr-3259	61	6	of	of	ADP
fsr-3259	61	7	management	management	NOUN
fsr-3259	61	8	fees	fee	NOUN
fsr-3259	61	9	and	and	CCONJ
fsr-3259	61	10	other	other	ADJ
fsr-3259	61	11	expenses	expense	NOUN
fsr-3259	61	12	including	include	VERB
fsr-3259	61	13	administrative	administrative	ADJ
fsr-3259	61	14	fees	fee	NOUN
fsr-3259	61	15	(	(	PUNCT
fsr-3259	61	16	collins	collin	NOUN
fsr-3259	61	17	,	,	PUNCT
fsr-3259	61	18	2003	2003	NUM
fsr-3259	61	19	)	)	PUNCT
fsr-3259	61	20	,	,	PUNCT
fsr-3259	61	21	may	may	AUX
fsr-3259	61	22	be	be	AUX
fsr-3259	61	23	reduced	reduce	VERB
fsr-3259	61	24	by	by	ADP
fsr-3259	61	25	an	an	DET
fsr-3259	61	26	increase	increase	NOUN
fsr-3259	61	27	in	in	ADP
fsr-3259	61	28	common	common	ADJ
fsr-3259	61	29	stock	stock	NOUN
fsr-3259	61	30	holdings	holding	NOUN
fsr-3259	61	31	or	or	CCONJ
fsr-3259	61	32	multi	multi	ADJ
fsr-3259	61	33	-	-	ADJ
fsr-3259	61	34	fund	fund	NOUN
fsr-3259	61	35	management	management	NOUN
fsr-3259	61	36	.	.	PUNCT
fsr-3259	62	1	first	first	ADV
fsr-3259	62	2	,	,	PUNCT
fsr-3259	62	3	common	common	ADJ
fsr-3259	62	4	stock	stock	NOUN
fsr-3259	62	5	holdings	holding	NOUN
fsr-3259	62	6	may	may	AUX
fsr-3259	62	7	be	be	AUX
fsr-3259	62	8	able	able	ADJ
fsr-3259	62	9	to	to	PART
fsr-3259	62	10	lower	lower	VERB
fsr-3259	62	11	a	a	DET
fsr-3259	62	12	fund	fund	NOUN
fsr-3259	62	13	’s	’s	PART
fsr-3259	62	14	management	management	NOUN
fsr-3259	62	15	fee	fee	NOUN
fsr-3259	62	16	.	.	PUNCT
fsr-3259	63	1	fund	fund	NOUN
fsr-3259	63	2	managers	manager	NOUN
fsr-3259	63	3	in	in	ADP
fsr-3259	63	4	the	the	DET
fsr-3259	63	5	same	same	ADJ
fsr-3259	63	6	family	family	NOUN
fsr-3259	63	7	are	be	AUX
fsr-3259	63	8	likely	likely	ADJ
fsr-3259	63	9	to	to	PART
fsr-3259	63	10	use	use	VERB
fsr-3259	63	11	the	the	DET
fsr-3259	63	12	same	same	ADJ
fsr-3259	63	13	research	research	NOUN
fsr-3259	63	14	analysis	analysis	NOUN
fsr-3259	63	15	produced	produce	VERB
fsr-3259	63	16	by	by	ADP
fsr-3259	63	17	either	either	CCONJ
fsr-3259	63	18	internal	internal	ADJ
fsr-3259	63	19	analysts	analyst	NOUN
fsr-3259	63	20	or	or	CCONJ
fsr-3259	63	21	external	external	ADJ
fsr-3259	63	22	research	research	NOUN
fsr-3259	63	23	firms	firm	NOUN
fsr-3259	63	24	(	(	PUNCT
fsr-3259	63	25	elton	elton	PROPN
fsr-3259	63	26	et	et	PROPN
fsr-3259	63	27	al	al	PROPN
fsr-3259	63	28	.	.	PROPN
fsr-3259	63	29	,	,	PUNCT
fsr-3259	63	30	2007	2007	NUM
fsr-3259	63	31	)	)	PUNCT
fsr-3259	63	32	.	.	PUNCT
fsr-3259	64	1	the	the	DET
fsr-3259	64	2	sharing	sharing	NOUN
fsr-3259	64	3	of	of	ADP
fsr-3259	64	4	the	the	DET
fsr-3259	64	5	research	research	NOUN
fsr-3259	64	6	analysis	analysis	NOUN
fsr-3259	64	7	within	within	ADP
fsr-3259	64	8	a	a	DET
fsr-3259	64	9	family	family	NOUN
fsr-3259	64	10	may	may	AUX
fsr-3259	64	11	increase	increase	VERB
fsr-3259	64	12	common	common	ADJ
fsr-3259	64	13	stock	stock	NOUN
fsr-3259	64	14	holdings	holding	NOUN
fsr-3259	64	15	across	across	ADP
fsr-3259	64	16	different	different	ADJ
fsr-3259	64	17	funds	fund	NOUN
fsr-3259	64	18	,	,	PUNCT
fsr-3259	64	19	but	but	CCONJ
fsr-3259	64	20	it	it	PRON
fsr-3259	64	21	may	may	AUX
fsr-3259	64	22	also	also	ADV
fsr-3259	64	23	reduce	reduce	VERB
fsr-3259	64	24	the	the	DET
fsr-3259	64	25	costs	cost	NOUN
fsr-3259	64	26	incurred	incur	VERB
fsr-3259	64	27	in	in	ADP
fsr-3259	64	28	the	the	DET
fsr-3259	64	29	security	security	NOUN
fsr-3259	64	30	selection	selection	NOUN
fsr-3259	64	31	process	process	NOUN
fsr-3259	64	32	,	,	PUNCT
fsr-3259	64	33	which	which	PRON
fsr-3259	64	34	are	be	AUX
fsr-3259	64	35	related	relate	VERB
fsr-3259	64	36	to	to	ADP
fsr-3259	64	37	a	a	DET
fsr-3259	64	38	fund	fund	NOUN
fsr-3259	64	39	’s	’s	PART
fsr-3259	64	40	management	management	NOUN
fsr-3259	64	41	fees	fee	NOUN
fsr-3259	64	42	.	.	PUNCT
fsr-3259	65	1	thus	thus	ADV
fsr-3259	65	2	,	,	PUNCT
fsr-3259	65	3	we	we	PRON
fsr-3259	65	4	expect	expect	VERB
fsr-3259	65	5	that	that	SCONJ
fsr-3259	65	6	a	a	DET
fsr-3259	65	7	fund	fund	NOUN
fsr-3259	65	8	’s	’s	PART
fsr-3259	65	9	common	common	ADJ
fsr-3259	65	10	stock	stock	NOUN
fsr-3259	65	11	holdings	holding	NOUN
fsr-3259	65	12	are	be	AUX
fsr-3259	65	13	negatively	negatively	ADV
fsr-3259	65	14	related	relate	VERB
fsr-3259	65	15	to	to	ADP
fsr-3259	65	16	its	its	PRON
fsr-3259	65	17	management	management	NOUN
fsr-3259	65	18	fee	fee	NOUN
fsr-3259	65	19	.	.	PUNCT
fsr-3259	66	1	second	second	ADJ
fsr-3259	66	2	,	,	PUNCT
fsr-3259	66	3	the	the	DET
fsr-3259	66	4	management	management	NOUN
fsr-3259	66	5	of	of	ADP
fsr-3259	66	6	multiple	multiple	ADJ
fsr-3259	66	7	funds	fund	NOUN
fsr-3259	66	8	(	(	PUNCT
fsr-3259	66	9	i.e.	i.e.	X
fsr-3259	66	10	,	,	PUNCT
fsr-3259	66	11	the	the	DET
fsr-3259	66	12	multifund	multifund	NOUN
fsr-3259	66	13	management	management	NOUN
fsr-3259	66	14	)	)	PUNCT
fsr-3259	66	15	may	may	AUX
fsr-3259	66	16	be	be	AUX
fsr-3259	66	17	able	able	ADJ
fsr-3259	66	18	to	to	PART
fsr-3259	66	19	lower	lower	VERB
fsr-3259	66	20	a	a	DET
fsr-3259	66	21	fund	fund	NOUN
fsr-3259	66	22	’s	’s	PART
fsr-3259	66	23	other	other	ADJ
fsr-3259	66	24	expenses	expense	NOUN
fsr-3259	66	25	including	include	VERB
fsr-3259	66	26	administrative	administrative	ADJ
fsr-3259	66	27	fees	fee	NOUN
fsr-3259	66	28	.	.	PUNCT
fsr-3259	67	1	fund	fund	NOUN
fsr-3259	67	2	families	family	NOUN
fsr-3259	67	3	often	often	ADV
fsr-3259	67	4	assign	assign	VERB
fsr-3259	67	5	multiple	multiple	ADJ
fsr-3259	67	6	funds	fund	NOUN
fsr-3259	67	7	to	to	ADP
fsr-3259	67	8	the	the	DET
fsr-3259	67	9	same	same	ADJ
fsr-3259	67	10	portfolio	portfolio	NOUN
fsr-3259	67	11	manager	manager	NOUN
fsr-3259	67	12	.	.	PUNCT
fsr-3259	68	1	agarwal	agarwal	PROPN
fsr-3259	68	2	et	et	PROPN
fsr-3259	68	3	al	al	PROPN
fsr-3259	68	4	.	.	PROPN
fsr-3259	69	1	(	(	PUNCT
fsr-3259	69	2	2015	2015	NUM
fsr-3259	69	3	)	)	PUNCT
fsr-3259	69	4	find	find	VERB
fsr-3259	69	5	that	that	SCONJ
fsr-3259	69	6	,	,	PUNCT
fsr-3259	69	7	for	for	ADP
fsr-3259	69	8	the	the	DET
fsr-3259	69	9	period	period	NOUN
fsr-3259	69	10	of	of	ADP
fsr-3259	69	11	1980	1980	NUM
fsr-3259	69	12	to	to	ADP
fsr-3259	69	13	2012	2012	NUM
fsr-3259	69	14	,	,	PUNCT
fsr-3259	69	15	48	48	NUM
fsr-3259	69	16	%	%	NOUN
fsr-3259	69	17	of	of	ADP
fsr-3259	69	18	mutual	mutual	ADJ
fsr-3259	69	19	fund	fund	NOUN
fsr-3259	69	20	managers	manager	NOUN
fsr-3259	69	21	managed	manage	VERB
fsr-3259	69	22	multiple	multiple	ADJ
fsr-3259	69	23	funds	fund	NOUN
fsr-3259	69	24	simultaneously	simultaneously	ADV
fsr-3259	69	25	.	.	PUNCT
fsr-3259	70	1	this	this	DET
fsr-3259	70	2	multi	multi	ADJ
fsr-3259	70	3	-	-	ADJ
fsr-3259	70	4	fund	fund	ADJ
fsr-3259	70	5	management	management	NOUN
fsr-3259	70	6	may	may	AUX
fsr-3259	70	7	enable	enable	VERB
fsr-3259	70	8	a	a	DET
fsr-3259	70	9	fund	fund	NOUN
fsr-3259	70	10	manager	manager	NOUN
fsr-3259	70	11	to	to	PART
fsr-3259	70	12	reduce	reduce	VERB
fsr-3259	70	13	administrative	administrative	ADJ
fsr-3259	70	14	fees	fee	NOUN
fsr-3259	70	15	by	by	ADP
fsr-3259	70	16	efficiently	efficiently	ADV
fsr-3259	70	17	allocating	allocate	VERB
fsr-3259	70	18	her	her	PRON
fsr-3259	70	19	resources	resource	NOUN
fsr-3259	70	20	among	among	ADP
fsr-3259	70	21	the	the	DET
fsr-3259	70	22	funds	fund	NOUN
fsr-3259	70	23	she	she	PRON
fsr-3259	70	24	manages	manage	VERB
fsr-3259	70	25	.	.	PUNCT
fsr-3259	71	1	in	in	ADP
fsr-3259	71	2	this	this	DET
fsr-3259	71	3	respect	respect	NOUN
fsr-3259	71	4	,	,	PUNCT
fsr-3259	71	5	we	we	PRON
fsr-3259	71	6	expect	expect	VERB
fsr-3259	71	7	that	that	SCONJ
fsr-3259	71	8	multi	multi	ADJ
fsr-3259	71	9	-	-	ADJ
fsr-3259	71	10	fund	fund	ADJ
fsr-3259	71	11	management	management	NOUN
fsr-3259	71	12	is	be	AUX
fsr-3259	71	13	negatively	negatively	ADV
fsr-3259	71	14	related	relate	VERB
fsr-3259	71	15	to	to	ADP
fsr-3259	71	16	a	a	DET
fsr-3259	71	17	fund	fund	NOUN
fsr-3259	71	18	’s	’s	PART
fsr-3259	71	19	other	other	ADJ
fsr-3259	71	20	expenses	expense	NOUN
fsr-3259	71	21	.	.	PUNCT
fsr-3259	72	1	thus	thus	ADV
fsr-3259	72	2	,	,	PUNCT
fsr-3259	72	3	for	for	ADP
fsr-3259	72	4	a	a	DET
fsr-3259	72	5	fund	fund	NOUN
fsr-3259	72	6	’s	’s	PART
fsr-3259	72	7	management	management	NOUN
fsr-3259	72	8	fee	fee	NOUN
fsr-3259	72	9	and	and	CCONJ
fsr-3259	72	10	other	other	ADJ
fsr-3259	72	11	expenses	expense	NOUN
fsr-3259	72	12	,	,	PUNCT
fsr-3259	72	13	we	we	PRON
fsr-3259	72	14	hypothesize	hypothesize	VERB
fsr-3259	72	15	the	the	DET
fsr-3259	72	16	following	following	NOUN
fsr-3259	72	17	:	:	PUNCT
fsr-3259	72	18	hypothesis	hypothesis	NOUN
fsr-3259	72	19	1	1	NUM
fsr-3259	72	20	-	-	SYM
fsr-3259	72	21	a	a	DET
fsr-3259	72	22	:	:	PUNCT
fsr-3259	72	23	common	common	ADJ
fsr-3259	72	24	stock	stock	NOUN
fsr-3259	72	25	holdings	holding	NOUN
fsr-3259	72	26	are	be	AUX
fsr-3259	72	27	negatively	negatively	ADV
fsr-3259	72	28	related	relate	VERB
fsr-3259	72	29	to	to	ADP
fsr-3259	72	30	a	a	DET
fsr-3259	72	31	fund	fund	NOUN
fsr-3259	72	32	’s	’s	PART
fsr-3259	72	33	management	management	NOUN
fsr-3259	72	34	fee	fee	NOUN
fsr-3259	72	35	.	.	PUNCT
fsr-3259	73	1	hypothesis	hypothesis	NOUN
fsr-3259	73	2	1	1	NUM
fsr-3259	73	3	-	-	SYM
fsr-3259	73	4	b	b	NOUN
fsr-3259	73	5	:	:	PUNCT
fsr-3259	73	6	multi	multi	ADJ
fsr-3259	73	7	-	-	ADJ
fsr-3259	73	8	fund	fund	ADJ
fsr-3259	73	9	management	management	NOUN
fsr-3259	73	10	is	be	AUX
fsr-3259	73	11	negatively	negatively	ADV
fsr-3259	73	12	related	relate	VERB
fsr-3259	73	13	to	to	ADP
fsr-3259	73	14	a	a	DET
fsr-3259	73	15	fund	fund	NOUN
fsr-3259	73	16	’s	’s	PART
fsr-3259	73	17	other	other	ADJ
fsr-3259	73	18	expenses	expense	NOUN
fsr-3259	73	19	.	.	PUNCT
fsr-3259	74	1	32	32	NUM
fsr-3259	74	2	y.	y.	PROPN
fsr-3259	74	3	park	park	PROPN
fsr-3259	74	4	/	/	SYM
fsr-3259	74	5	financial	financial	ADJ
fsr-3259	74	6	services	service	NOUN
fsr-3259	74	7	review	review	VERB
fsr-3259	74	8	25	25	NUM
fsr-3259	74	9	(	(	PUNCT
fsr-3259	74	10	2016	2016	NUM
fsr-3259	74	11	)	)	PUNCT
fsr-3259	74	12	29–49	29–49	NUM
fsr-3259	74	13	2.2	2.2	NUM
fsr-3259	74	14	.	.	PUNCT
fsr-3259	75	1	fund	fund	NOUN
fsr-3259	75	2	commonalities	commonality	NOUN
fsr-3259	75	3	and	and	CCONJ
fsr-3259	75	4	return	return	NOUN
fsr-3259	75	5	correlation	correlation	NOUN
fsr-3259	75	6	except	except	SCONJ
fsr-3259	75	7	for	for	ADP
fsr-3259	75	8	common	common	ADJ
fsr-3259	75	9	exposure	exposure	NOUN
fsr-3259	75	10	to	to	ADP
fsr-3259	75	11	market	market	NOUN
fsr-3259	75	12	and	and	CCONJ
fsr-3259	75	13	systematic	systematic	ADJ
fsr-3259	75	14	factors	factor	NOUN
fsr-3259	75	15	,	,	PUNCT
fsr-3259	75	16	return	return	VERB
fsr-3259	75	17	correlations	correlation	NOUN
fsr-3259	75	18	of	of	ADP
fsr-3259	75	19	funds	fund	NOUN
fsr-3259	75	20	in	in	ADP
fsr-3259	75	21	a	a	DET
fsr-3259	75	22	family	family	NOUN
fsr-3259	75	23	may	may	AUX
fsr-3259	75	24	be	be	AUX
fsr-3259	75	25	increased	increase	VERB
fsr-3259	75	26	by	by	ADP
fsr-3259	75	27	nonmarket	nonmarket	NOUN
fsr-3259	75	28	or	or	CCONJ
fsr-3259	75	29	nonsystematic	nonsystematic	ADJ
fsr-3259	75	30	factors	factor	NOUN
fsr-3259	75	31	that	that	PRON
fsr-3259	75	32	are	be	AUX
fsr-3259	75	33	shared	share	VERB
fsr-3259	75	34	between	between	ADP
fsr-3259	75	35	funds	fund	NOUN
fsr-3259	75	36	,	,	PUNCT
fsr-3259	75	37	such	such	ADJ
fsr-3259	75	38	as	as	ADP
fsr-3259	75	39	common	common	ADJ
fsr-3259	75	40	stock	stock	NOUN
fsr-3259	75	41	holdings	holding	NOUN
fsr-3259	75	42	and	and	CCONJ
fsr-3259	75	43	the	the	DET
fsr-3259	75	44	management	management	NOUN
fsr-3259	75	45	of	of	ADP
fsr-3259	75	46	multiple	multiple	ADJ
fsr-3259	75	47	funds	fund	NOUN
fsr-3259	75	48	.	.	PUNCT
fsr-3259	76	1	to	to	PART
fsr-3259	76	2	measure	measure	VERB
fsr-3259	76	3	the	the	DET
fsr-3259	76	4	correlation	correlation	NOUN
fsr-3259	76	5	of	of	ADP
fsr-3259	76	6	fund	fund	NOUN
fsr-3259	76	7	returns	return	NOUN
fsr-3259	76	8	caused	cause	VERB
fsr-3259	76	9	by	by	ADP
fsr-3259	76	10	nonmarket	nonmarket	NOUN
fsr-3259	76	11	or	or	CCONJ
fsr-3259	76	12	nonsystematic	nonsystematic	ADJ
fsr-3259	76	13	factors	factor	NOUN
fsr-3259	76	14	,	,	PUNCT
fsr-3259	76	15	we	we	PRON
fsr-3259	76	16	use	use	VERB
fsr-3259	76	17	the	the	DET
fsr-3259	76	18	correlation	correlation	NOUN
fsr-3259	76	19	of	of	ADP
fsr-3259	76	20	return	return	NOUN
fsr-3259	76	21	residuals	residual	NOUN
fsr-3259	76	22	.	.	PUNCT
fsr-3259	77	1	following	follow	VERB
fsr-3259	77	2	elton	elton	PROPN
fsr-3259	77	3	et	et	PROPN
fsr-3259	77	4	al	al	PROPN
fsr-3259	77	5	.	.	PROPN
fsr-3259	78	1	(	(	PUNCT
fsr-3259	78	2	2007	2007	NUM
fsr-3259	78	3	)	)	PUNCT
fsr-3259	78	4	,	,	PUNCT
fsr-3259	78	5	we	we	PRON
fsr-3259	78	6	decompose	decompose	VERB
fsr-3259	78	7	the	the	DET
fsr-3259	78	8	correlation	correlation	NOUN
fsr-3259	78	9	of	of	ADP
fsr-3259	78	10	fund	fund	NOUN
fsr-3259	78	11	returns	return	NOUN
fsr-3259	78	12	into	into	ADP
fsr-3259	78	13	two	two	NUM
fsr-3259	78	14	parts	part	NOUN
fsr-3259	78	15	:	:	PUNCT
fsr-3259	78	16	(	(	PUNCT
fsr-3259	78	17	1	1	X
fsr-3259	78	18	)	)	PUNCT
fsr-3259	78	19	the	the	DET
fsr-3259	78	20	return	return	NOUN
fsr-3259	78	21	correlation	correlation	NOUN
fsr-3259	78	22	caused	cause	VERB
fsr-3259	78	23	by	by	ADP
fsr-3259	78	24	market	market	NOUN
fsr-3259	78	25	and	and	CCONJ
fsr-3259	78	26	systematic	systematic	ADJ
fsr-3259	78	27	factors	factor	NOUN
fsr-3259	78	28	,	,	PUNCT
fsr-3259	78	29	such	such	ADJ
fsr-3259	78	30	as	as	ADP
fsr-3259	78	31	size	size	NOUN
fsr-3259	78	32	,	,	PUNCT
fsr-3259	78	33	book	book	NOUN
fsr-3259	78	34	-	-	PUNCT
fsr-3259	78	35	to	to	ADP
fsr-3259	78	36	-	-	PUNCT
fsr-3259	78	37	market	market	NOUN
fsr-3259	78	38	,	,	PUNCT
fsr-3259	78	39	and	and	CCONJ
fsr-3259	78	40	momentum	momentum	NOUN
fsr-3259	78	41	factors	factor	NOUN
fsr-3259	78	42	,	,	PUNCT
fsr-3259	78	43	and	and	CCONJ
fsr-3259	78	44	(	(	PUNCT
fsr-3259	78	45	2	2	X
fsr-3259	78	46	)	)	PUNCT
fsr-3259	78	47	the	the	DET
fsr-3259	78	48	correlation	correlation	NOUN
fsr-3259	78	49	of	of	ADP
fsr-3259	78	50	return	return	NOUN
fsr-3259	78	51	residuals	residual	NOUN
fsr-3259	78	52	,	,	PUNCT
fsr-3259	78	53	which	which	PRON
fsr-3259	78	54	are	be	AUX
fsr-3259	78	55	not	not	PART
fsr-3259	78	56	captured	capture	VERB
fsr-3259	78	57	by	by	ADP
fsr-3259	78	58	market	market	NOUN
fsr-3259	78	59	and	and	CCONJ
fsr-3259	78	60	systematic	systematic	ADJ
fsr-3259	78	61	factors	factor	NOUN
fsr-3259	78	62	.	.	PUNCT
fsr-3259	79	1	then	then	ADV
fsr-3259	79	2	we	we	PRON
fsr-3259	79	3	focus	focus	VERB
fsr-3259	79	4	on	on	ADP
fsr-3259	79	5	the	the	DET
fsr-3259	79	6	correlation	correlation	NOUN
fsr-3259	79	7	of	of	ADP
fsr-3259	79	8	return	return	NOUN
fsr-3259	79	9	residuals	residual	NOUN
fsr-3259	79	10	and	and	CCONJ
fsr-3259	79	11	examine	examine	VERB
fsr-3259	79	12	whether	whether	SCONJ
fsr-3259	79	13	return	return	VERB
fsr-3259	79	14	residual	residual	ADJ
fsr-3259	79	15	correlations	correlation	NOUN
fsr-3259	79	16	are	be	AUX
fsr-3259	79	17	related	relate	VERB
fsr-3259	79	18	to	to	ADP
fsr-3259	79	19	common	common	ADJ
fsr-3259	79	20	stock	stock	NOUN
fsr-3259	79	21	holdings	holding	NOUN
fsr-3259	79	22	and	and	CCONJ
fsr-3259	79	23	multi	multi	ADJ
fsr-3259	79	24	-	-	ADJ
fsr-3259	79	25	fund	fund	NOUN
fsr-3259	79	26	management	management	NOUN
fsr-3259	79	27	.	.	PUNCT
fsr-3259	80	1	first	first	ADV
fsr-3259	80	2	,	,	PUNCT
fsr-3259	80	3	common	common	ADJ
fsr-3259	80	4	stock	stock	NOUN
fsr-3259	80	5	holdings	holding	NOUN
fsr-3259	80	6	of	of	ADP
fsr-3259	80	7	funds	fund	NOUN
fsr-3259	80	8	may	may	AUX
fsr-3259	80	9	enhance	enhance	VERB
fsr-3259	80	10	the	the	DET
fsr-3259	80	11	commonality	commonality	NOUN
fsr-3259	80	12	of	of	ADP
fsr-3259	80	13	funds	fund	NOUN
fsr-3259	80	14	in	in	ADP
fsr-3259	80	15	a	a	DET
fsr-3259	80	16	family	family	NOUN
fsr-3259	80	17	.	.	PUNCT
fsr-3259	81	1	elton	elton	PROPN
fsr-3259	81	2	et	et	PROPN
fsr-3259	81	3	al	al	PROPN
fsr-3259	81	4	.	.	PROPN
fsr-3259	82	1	(	(	PUNCT
fsr-3259	82	2	2007	2007	NUM
fsr-3259	82	3	)	)	PUNCT
fsr-3259	82	4	find	find	VERB
fsr-3259	82	5	that	that	SCONJ
fsr-3259	82	6	return	return	VERB
fsr-3259	82	7	correlations	correlation	NOUN
fsr-3259	82	8	of	of	ADP
fsr-3259	82	9	funds	fund	NOUN
fsr-3259	82	10	are	be	AUX
fsr-3259	82	11	higher	high	ADJ
fsr-3259	82	12	within	within	ADP
fsr-3259	82	13	families	family	NOUN
fsr-3259	82	14	than	than	ADP
fsr-3259	82	15	between	between	ADP
fsr-3259	82	16	families	family	NOUN
fsr-3259	82	17	and	and	CCONJ
fsr-3259	82	18	that	that	SCONJ
fsr-3259	82	19	about	about	ADV
fsr-3259	82	20	60	60	NUM
fsr-3259	82	21	%	%	NOUN
fsr-3259	82	22	of	of	ADP
fsr-3259	82	23	the	the	DET
fsr-3259	82	24	increased	increase	VERB
fsr-3259	82	25	correlation	correlation	NOUN
fsr-3259	82	26	is	be	AUX
fsr-3259	82	27	because	because	SCONJ
fsr-3259	82	28	of	of	ADP
fsr-3259	82	29	common	common	ADJ
fsr-3259	82	30	stock	stock	NOUN
fsr-3259	82	31	holdings	holding	NOUN
fsr-3259	82	32	.	.	PUNCT
fsr-3259	83	1	thus	thus	ADV
fsr-3259	83	2	,	,	PUNCT
fsr-3259	83	3	we	we	PRON
fsr-3259	83	4	expect	expect	VERB
fsr-3259	83	5	that	that	SCONJ
fsr-3259	83	6	common	common	ADJ
fsr-3259	83	7	stock	stock	NOUN
fsr-3259	83	8	holdings	holding	NOUN
fsr-3259	83	9	are	be	AUX
fsr-3259	83	10	positively	positively	ADV
fsr-3259	83	11	related	relate	VERB
fsr-3259	83	12	to	to	ADP
fsr-3259	83	13	the	the	DET
fsr-3259	83	14	correlation	correlation	NOUN
fsr-3259	83	15	of	of	ADP
fsr-3259	83	16	return	return	NOUN
fsr-3259	83	17	residuals	residual	NOUN
fsr-3259	83	18	,	,	PUNCT
fsr-3259	83	19	which	which	PRON
fsr-3259	83	20	increases	increase	VERB
fsr-3259	83	21	the	the	DET
fsr-3259	83	22	correlation	correlation	NOUN
fsr-3259	83	23	of	of	ADP
fsr-3259	83	24	fund	fund	NOUN
fsr-3259	83	25	returns	return	NOUN
fsr-3259	83	26	.	.	PUNCT
fsr-3259	84	1	second	second	ADJ
fsr-3259	84	2	,	,	PUNCT
fsr-3259	84	3	multi	multi	ADJ
fsr-3259	84	4	-	-	ADJ
fsr-3259	84	5	fund	fund	ADJ
fsr-3259	84	6	management	management	NOUN
fsr-3259	84	7	may	may	AUX
fsr-3259	84	8	also	also	ADV
fsr-3259	84	9	increase	increase	VERB
fsr-3259	84	10	the	the	DET
fsr-3259	84	11	commonality	commonality	NOUN
fsr-3259	84	12	of	of	ADP
fsr-3259	84	13	funds	fund	NOUN
fsr-3259	84	14	.	.	PUNCT
fsr-3259	85	1	funds	fund	NOUN
fsr-3259	85	2	within	within	ADP
fsr-3259	85	3	a	a	DET
fsr-3259	85	4	family	family	NOUN
fsr-3259	85	5	tend	tend	VERB
fsr-3259	85	6	to	to	PART
fsr-3259	85	7	pursue	pursue	VERB
fsr-3259	85	8	a	a	DET
fsr-3259	85	9	similar	similar	ADJ
fsr-3259	85	10	investment	investment	NOUN
fsr-3259	85	11	strategy	strategy	NOUN
fsr-3259	85	12	(	(	PUNCT
fsr-3259	85	13	e.g.	e.g.	ADV
fsr-3259	85	14	,	,	PUNCT
fsr-3259	85	15	lowor	lowor	ADJ
fsr-3259	85	16	high	high	ADJ
fsr-3259	85	17	-	-	PUNCT
fsr-3259	85	18	risk	risk	NOUN
fsr-3259	85	19	strategies	strategy	NOUN
fsr-3259	85	20	)	)	PUNCT
fsr-3259	85	21	across	across	ADP
fsr-3259	85	22	different	different	ADJ
fsr-3259	85	23	investment	investment	NOUN
fsr-3259	85	24	objectives	objective	NOUN
fsr-3259	85	25	(	(	PUNCT
fsr-3259	85	26	elton	elton	PROPN
fsr-3259	85	27	et	et	PROPN
fsr-3259	85	28	al	al	PROPN
fsr-3259	85	29	.	.	PROPN
fsr-3259	85	30	,	,	PUNCT
fsr-3259	85	31	2007	2007	NUM
fsr-3259	85	32	)	)	PUNCT
fsr-3259	85	33	.	.	PUNCT
fsr-3259	86	1	similarly	similarly	ADV
fsr-3259	86	2	,	,	PUNCT
fsr-3259	86	3	funds	fund	NOUN
fsr-3259	86	4	managed	manage	VERB
fsr-3259	86	5	by	by	ADP
fsr-3259	86	6	a	a	DET
fsr-3259	86	7	multi	multi	ADJ
fsr-3259	86	8	-	-	ADJ
fsr-3259	86	9	fund	fund	ADJ
fsr-3259	86	10	manager	manager	NOUN
fsr-3259	86	11	may	may	AUX
fsr-3259	86	12	adopt	adopt	VERB
fsr-3259	86	13	a	a	DET
fsr-3259	86	14	similar	similar	ADJ
fsr-3259	86	15	investment	investment	NOUN
fsr-3259	86	16	strategy	strategy	NOUN
fsr-3259	86	17	even	even	ADV
fsr-3259	86	18	if	if	SCONJ
fsr-3259	86	19	they	they	PRON
fsr-3259	86	20	have	have	VERB
fsr-3259	86	21	different	different	ADJ
fsr-3259	86	22	investment	investment	NOUN
fsr-3259	86	23	objectives	objective	NOUN
fsr-3259	86	24	.	.	PUNCT
fsr-3259	87	1	a	a	DET
fsr-3259	87	2	multi	multi	ADJ
fsr-3259	87	3	-	-	ADJ
fsr-3259	87	4	fund	fund	ADJ
fsr-3259	87	5	manager	manager	NOUN
fsr-3259	87	6	may	may	AUX
fsr-3259	87	7	pursue	pursue	VERB
fsr-3259	87	8	her	her	PRON
fsr-3259	87	9	investment	investment	NOUN
fsr-3259	87	10	strategy	strategy	NOUN
fsr-3259	87	11	for	for	ADP
fsr-3259	87	12	her	her	PRON
fsr-3259	87	13	different	different	ADJ
fsr-3259	87	14	funds	fund	NOUN
fsr-3259	87	15	by	by	ADP
fsr-3259	87	16	selecting	select	VERB
fsr-3259	87	17	stocks	stock	NOUN
fsr-3259	87	18	with	with	ADP
fsr-3259	87	19	similar	similar	ADJ
fsr-3259	87	20	risk	risk	NOUN
fsr-3259	87	21	characteristics	characteristic	NOUN
fsr-3259	87	22	(	(	PUNCT
fsr-3259	87	23	but	but	CCONJ
fsr-3259	87	24	not	not	PART
fsr-3259	87	25	necessarily	necessarily	ADV
fsr-3259	87	26	the	the	DET
fsr-3259	87	27	same	same	ADJ
fsr-3259	87	28	stocks	stock	NOUN
fsr-3259	87	29	)	)	PUNCT
fsr-3259	87	30	.	.	PUNCT
fsr-3259	88	1	thus	thus	ADV
fsr-3259	88	2	,	,	PUNCT
fsr-3259	88	3	funds	fund	NOUN
fsr-3259	88	4	managed	manage	VERB
fsr-3259	88	5	by	by	ADP
fsr-3259	88	6	a	a	DET
fsr-3259	88	7	multifund	multifund	NOUN
fsr-3259	88	8	manager	manager	NOUN
fsr-3259	88	9	would	would	AUX
fsr-3259	88	10	be	be	AUX
fsr-3259	88	11	more	more	ADV
fsr-3259	88	12	likely	likely	ADJ
fsr-3259	88	13	to	to	PART
fsr-3259	88	14	have	have	VERB
fsr-3259	88	15	similar	similar	ADJ
fsr-3259	88	16	risk	risk	NOUN
fsr-3259	88	17	characteristics	characteristic	NOUN
fsr-3259	88	18	and	and	CCONJ
fsr-3259	88	19	,	,	PUNCT
fsr-3259	88	20	as	as	ADP
fsr-3259	88	21	a	a	DET
fsr-3259	88	22	result	result	NOUN
fsr-3259	88	23	,	,	PUNCT
fsr-3259	88	24	to	to	PART
fsr-3259	88	25	have	have	VERB
fsr-3259	88	26	a	a	DET
fsr-3259	88	27	higher	high	ADJ
fsr-3259	88	28	correlation	correlation	NOUN
fsr-3259	88	29	of	of	ADP
fsr-3259	88	30	return	return	NOUN
fsr-3259	88	31	residuals	residual	NOUN
fsr-3259	88	32	than	than	ADP
fsr-3259	88	33	those	those	PRON
fsr-3259	88	34	managed	manage	VERB
fsr-3259	88	35	by	by	ADP
fsr-3259	88	36	different	different	ADJ
fsr-3259	88	37	fund	fund	NOUN
fsr-3259	88	38	managers	manager	NOUN
fsr-3259	88	39	.	.	PUNCT
fsr-3259	89	1	in	in	ADP
fsr-3259	89	2	this	this	DET
fsr-3259	89	3	respect	respect	NOUN
fsr-3259	89	4	,	,	PUNCT
fsr-3259	89	5	for	for	ADP
fsr-3259	89	6	the	the	DET
fsr-3259	89	7	correlation	correlation	NOUN
fsr-3259	89	8	of	of	ADP
fsr-3259	89	9	return	return	NOUN
fsr-3259	89	10	residuals	residual	NOUN
fsr-3259	89	11	,	,	PUNCT
fsr-3259	89	12	we	we	PRON
fsr-3259	89	13	hypothesize	hypothesize	VERB
fsr-3259	89	14	the	the	DET
fsr-3259	89	15	following	following	NOUN
fsr-3259	89	16	:	:	PUNCT
fsr-3259	89	17	hypothesis	hypothesis	NOUN
fsr-3259	89	18	2	2	NUM
fsr-3259	89	19	-	-	SYM
fsr-3259	89	20	a	a	DET
fsr-3259	89	21	:	:	PUNCT
fsr-3259	89	22	common	common	ADJ
fsr-3259	89	23	stock	stock	NOUN
fsr-3259	89	24	holdings	holding	NOUN
fsr-3259	89	25	are	be	AUX
fsr-3259	89	26	positively	positively	ADV
fsr-3259	89	27	related	relate	VERB
fsr-3259	89	28	to	to	ADP
fsr-3259	89	29	the	the	DET
fsr-3259	89	30	correlation	correlation	NOUN
fsr-3259	89	31	of	of	ADP
fsr-3259	89	32	return	return	NOUN
fsr-3259	89	33	residuals	residual	NOUN
fsr-3259	89	34	.	.	PUNCT
fsr-3259	90	1	hypothesis	hypothesis	NOUN
fsr-3259	90	2	2	2	NUM
fsr-3259	90	3	-	-	SYM
fsr-3259	90	4	b	b	NOUN
fsr-3259	90	5	:	:	PUNCT
fsr-3259	90	6	multi	multi	ADJ
fsr-3259	90	7	-	-	ADJ
fsr-3259	90	8	fund	fund	ADJ
fsr-3259	90	9	management	management	NOUN
fsr-3259	90	10	is	be	AUX
fsr-3259	90	11	positively	positively	ADV
fsr-3259	90	12	related	relate	VERB
fsr-3259	90	13	to	to	ADP
fsr-3259	90	14	the	the	DET
fsr-3259	90	15	correlation	correlation	NOUN
fsr-3259	90	16	of	of	ADP
fsr-3259	90	17	return	return	NOUN
fsr-3259	90	18	residuals	residual	NOUN
fsr-3259	90	19	.	.	PUNCT
fsr-3259	91	1	3	3	X
fsr-3259	91	2	.	.	X
fsr-3259	91	3	data	datum	NOUN
fsr-3259	91	4	and	and	CCONJ
fsr-3259	91	5	sample	sample	VERB
fsr-3259	91	6	the	the	DET
fsr-3259	91	7	data	datum	NOUN
fsr-3259	91	8	come	come	VERB
fsr-3259	91	9	from	from	ADP
fsr-3259	91	10	the	the	DET
fsr-3259	91	11	crsp	crsp	NOUN
fsr-3259	91	12	,	,	PUNCT
fsr-3259	91	13	the	the	DET
fsr-3259	91	14	thomson	thomson	NOUN
fsr-3259	91	15	financial	financial	PROPN
fsr-3259	91	16	mutual	mutual	ADJ
fsr-3259	91	17	fund	fund	NOUN
fsr-3259	91	18	holdings	holding	NOUN
fsr-3259	91	19	,	,	PUNCT
fsr-3259	91	20	and	and	CCONJ
fsr-3259	91	21	the	the	DET
fsr-3259	91	22	morningstar	morningstar	NOUN
fsr-3259	91	23	databases	database	NOUN
fsr-3259	91	24	for	for	ADP
fsr-3259	91	25	the	the	DET
fsr-3259	91	26	period	period	NOUN
fsr-3259	91	27	of	of	ADP
fsr-3259	91	28	2001	2001	NUM
fsr-3259	91	29	and	and	CCONJ
fsr-3259	91	30	2006	2006	NUM
fsr-3259	91	31	.	.	PUNCT
fsr-3259	92	1	first	first	ADV
fsr-3259	92	2	,	,	PUNCT
fsr-3259	92	3	we	we	PRON
fsr-3259	92	4	merge	merge	VERB
fsr-3259	92	5	the	the	DET
fsr-3259	92	6	crsp	crsp	NOUN
fsr-3259	92	7	and	and	CCONJ
fsr-3259	92	8	the	the	DET
fsr-3259	92	9	thomson	thomson	NOUN
fsr-3259	92	10	financial	financial	PROPN
fsr-3259	92	11	mutual	mutual	ADJ
fsr-3259	92	12	fund	fund	NOUN
fsr-3259	92	13	holdings	holding	NOUN
fsr-3259	92	14	and	and	CCONJ
fsr-3259	92	15	collect	collect	VERB
fsr-3259	92	16	the	the	DET
fsr-3259	92	17	information	information	NOUN
fsr-3259	92	18	on	on	ADP
fsr-3259	92	19	funds	fund	NOUN
fsr-3259	92	20	’	'	PUNCT
fsr-3259	92	21	stock	stock	NOUN
fsr-3259	92	22	holdings.3	holdings.3	PROPN
fsr-3259	92	23	to	to	PART
fsr-3259	92	24	identify	identify	VERB
fsr-3259	92	25	fund	fund	NOUN
fsr-3259	92	26	investment	investment	NOUN
fsr-3259	92	27	objectives	objective	NOUN
fsr-3259	92	28	,	,	PUNCT
fsr-3259	92	29	we	we	PRON
fsr-3259	92	30	use	use	VERB
fsr-3259	92	31	the	the	DET
fsr-3259	92	32	investment	investment	NOUN
fsr-3259	92	33	company	company	NOUN
fsr-3259	92	34	data	data	PROPN
fsr-3259	92	35	,	,	PUNCT
fsr-3259	92	36	inc	inc	PROPN
fsr-3259	92	37	.	.	PROPN
fsr-3259	92	38	’s	’s	PART
fsr-3259	92	39	(	(	PUNCT
fsr-3259	92	40	icdi	icdi	NOUN
fsr-3259	92	41	)	)	PUNCT
fsr-3259	92	42	classifications	classification	NOUN
fsr-3259	92	43	that	that	PRON
fsr-3259	92	44	are	be	AUX
fsr-3259	92	45	matched	match	VERB
fsr-3259	92	46	with	with	ADP
fsr-3259	92	47	the	the	DET
fsr-3259	92	48	strategic	strategic	ADJ
fsr-3259	92	49	insight	insight	NOUN
fsr-3259	92	50	(	(	PUNCT
fsr-3259	92	51	si	si	NOUN
fsr-3259	92	52	)	)	PUNCT
fsr-3259	92	53	classifications	classification	NOUN
fsr-3259	92	54	because	because	SCONJ
fsr-3259	92	55	the	the	DET
fsr-3259	92	56	broad	broad	ADJ
fsr-3259	92	57	icdi	icdi	ADJ
fsr-3259	92	58	categories	category	NOUN
fsr-3259	92	59	enable	enable	VERB
fsr-3259	92	60	us	we	PRON
fsr-3259	92	61	to	to	PART
fsr-3259	92	62	develop	develop	VERB
fsr-3259	92	63	a	a	DET
fsr-3259	92	64	parsimonious	parsimonious	ADJ
fsr-3259	92	65	model	model	NOUN
fsr-3259	92	66	(	(	PUNCT
fsr-3259	92	67	table	table	NOUN
fsr-3259	92	68	1	1	NUM
fsr-3259	92	69	)	)	PUNCT
fsr-3259	92	70	.	.	PUNCT
fsr-3259	93	1	our	our	PRON
fsr-3259	93	2	sample	sample	NOUN
fsr-3259	93	3	includes	include	VERB
fsr-3259	93	4	only	only	ADV
fsr-3259	93	5	actively	actively	ADV
fsr-3259	93	6	managed	manage	VERB
fsr-3259	93	7	u.s	u.s	PROPN
fsr-3259	93	8	.	.	PROPN
fsr-3259	93	9	equity	equity	NOUN
fsr-3259	93	10	funds	fund	NOUN
fsr-3259	93	11	that	that	PRON
fsr-3259	93	12	are	be	AUX
fsr-3259	93	13	classified	classify	VERB
fsr-3259	93	14	as	as	ADP
fsr-3259	93	15	aggressive	aggressive	ADJ
fsr-3259	93	16	growth	growth	NOUN
fsr-3259	93	17	(	(	PUNCT
fsr-3259	93	18	ag	ag	PROPN
fsr-3259	93	19	)	)	PUNCT
fsr-3259	93	20	,	,	PUNCT
fsr-3259	93	21	growth	growth	NOUN
fsr-3259	93	22	and	and	CCONJ
fsr-3259	93	23	income	income	NOUN
fsr-3259	93	24	(	(	PUNCT
fsr-3259	93	25	gi	gi	NOUN
fsr-3259	93	26	)	)	PUNCT
fsr-3259	93	27	,	,	PUNCT
fsr-3259	93	28	and	and	CCONJ
fsr-3259	93	29	long	long	ADJ
fsr-3259	93	30	-	-	PUNCT
fsr-3259	93	31	term	term	NOUN
fsr-3259	93	32	growth	growth	NOUN
fsr-3259	93	33	(	(	PUNCT
fsr-3259	93	34	lg	lg	NOUN
fsr-3259	93	35	)	)	PUNCT
fsr-3259	93	36	.	.	PUNCT
fsr-3259	94	1	second	second	ADJ
fsr-3259	94	2	,	,	PUNCT
fsr-3259	94	3	we	we	PRON
fsr-3259	94	4	use	use	VERB
fsr-3259	94	5	the	the	DET
fsr-3259	94	6	morningstar	morningstar	NOUN
fsr-3259	94	7	to	to	PART
fsr-3259	94	8	collect	collect	VERB
fsr-3259	94	9	the	the	DET
fsr-3259	94	10	information	information	NOUN
fsr-3259	94	11	on	on	ADP
fsr-3259	94	12	fund	fund	NOUN
fsr-3259	94	13	managers	manager	NOUN
fsr-3259	94	14	and	and	CCONJ
fsr-3259	94	15	management	management	NOUN
fsr-3259	94	16	fees	fee	NOUN
fsr-3259	94	17	,	,	PUNCT
fsr-3259	94	18	instead	instead	ADV
fsr-3259	94	19	of	of	ADP
fsr-3259	94	20	33y	33y	NOUN
fsr-3259	94	21	.	.	PUNCT
fsr-3259	95	1	park	park	NOUN
fsr-3259	95	2	/	/	SYM
fsr-3259	95	3	financial	financial	ADJ
fsr-3259	95	4	services	service	NOUN
fsr-3259	95	5	review	review	VERB
fsr-3259	95	6	25	25	NUM
fsr-3259	95	7	(	(	PUNCT
fsr-3259	95	8	2016	2016	NUM
fsr-3259	95	9	)	)	PUNCT
fsr-3259	95	10	29–49	29–49	NUM
fsr-3259	95	11	the	the	DET
fsr-3259	95	12	crsp	crsp	NOUN
fsr-3259	95	13	.	.	PUNCT
fsr-3259	96	1	the	the	DET
fsr-3259	96	2	crsp	crsp	PROPN
fsr-3259	96	3	provides	provide	VERB
fsr-3259	96	4	less	less	ADV
fsr-3259	96	5	reliable	reliable	ADJ
fsr-3259	96	6	information	information	NOUN
fsr-3259	96	7	on	on	ADP
fsr-3259	96	8	fund	fund	NOUN
fsr-3259	96	9	managers	manager	NOUN
fsr-3259	96	10	(	(	PUNCT
fsr-3259	96	11	massa	massa	PROPN
fsr-3259	96	12	,	,	PUNCT
fsr-3259	96	13	reuter	reuter	PROPN
fsr-3259	96	14	,	,	PUNCT
fsr-3259	96	15	and	and	CCONJ
fsr-3259	96	16	zitzewitz	zitzewitz	PROPN
fsr-3259	96	17	,	,	PUNCT
fsr-3259	96	18	2010	2010	NUM
fsr-3259	96	19	)	)	PUNCT
fsr-3259	96	20	and	and	CCONJ
fsr-3259	96	21	reports	report	VERB
fsr-3259	96	22	management	management	NOUN
fsr-3259	96	23	fees	fee	NOUN
fsr-3259	96	24	that	that	PRON
fsr-3259	96	25	include	include	VERB
fsr-3259	96	26	waivers	waiver	NOUN
fsr-3259	96	27	and	and	CCONJ
fsr-3259	96	28	reimbursements	reimbursement	NOUN
fsr-3259	96	29	,	,	PUNCT
fsr-3259	96	30	which	which	PRON
fsr-3259	96	31	can	can	AUX
fsr-3259	96	32	lead	lead	VERB
fsr-3259	96	33	to	to	ADP
fsr-3259	96	34	negative	negative	ADJ
fsr-3259	96	35	management	management	NOUN
fsr-3259	96	36	fees	fee	NOUN
fsr-3259	96	37	.	.	PUNCT
fsr-3259	97	1	we	we	PRON
fsr-3259	97	2	merge	merge	VERB
fsr-3259	97	3	the	the	DET
fsr-3259	97	4	morningstar	morningstar	NOUN
fsr-3259	97	5	and	and	CCONJ
fsr-3259	97	6	the	the	DET
fsr-3259	97	7	merged	merge	VERB
fsr-3259	97	8	dataset	dataset	NOUN
fsr-3259	97	9	above	above	ADV
fsr-3259	97	10	,	,	PUNCT
fsr-3259	97	11	using	use	VERB
fsr-3259	97	12	funds	fund	NOUN
fsr-3259	97	13	’	'	PUNCT
fsr-3259	97	14	tickers	ticker	NOUN
fsr-3259	97	15	,	,	PUNCT
fsr-3259	97	16	cusips	cusip	NOUN
fsr-3259	97	17	,	,	PUNCT
fsr-3259	97	18	net	net	ADJ
fsr-3259	97	19	asset	asset	NOUN
fsr-3259	97	20	values	value	NOUN
fsr-3259	97	21	,	,	PUNCT
fsr-3259	97	22	and	and	CCONJ
fsr-3259	97	23	returns	return	VERB
fsr-3259	97	24	that	that	SCONJ
fsr-3259	97	25	prior	prior	ADJ
fsr-3259	97	26	studies	study	NOUN
fsr-3259	97	27	use	use	VERB
fsr-3259	97	28	to	to	PART
fsr-3259	97	29	merge	merge	VERB
fsr-3259	97	30	the	the	DET
fsr-3259	97	31	morningstar	morningstar	NOUN
fsr-3259	97	32	and	and	CCONJ
fsr-3259	97	33	the	the	DET
fsr-3259	97	34	crsp	crsp	PROPN
fsr-3259	97	35	databases	database	NOUN
fsr-3259	97	36	(	(	PUNCT
fsr-3259	97	37	e.g.	e.g.	ADV
fsr-3259	97	38	,	,	PUNCT
fsr-3259	97	39	berk	berk	PROPN
fsr-3259	97	40	and	and	CCONJ
fsr-3259	97	41	van	van	PROPN
fsr-3259	97	42	binsbergen	binsbergen	NOUN
fsr-3259	97	43	,	,	PUNCT
fsr-3259	97	44	2015	2015	NUM
fsr-3259	97	45	;	;	PUNCT
fsr-3259	97	46	pástor	pástor	NOUN
fsr-3259	97	47	,	,	PUNCT
fsr-3259	97	48	stambaugh	stambaugh	NOUN
fsr-3259	97	49	,	,	PUNCT
fsr-3259	97	50	and	and	CCONJ
fsr-3259	97	51	taylor	taylor	PROPN
fsr-3259	97	52	,	,	PUNCT
fsr-3259	97	53	2015).4	2015).4	NUM
fsr-3259	97	54	third	third	ADJ
fsr-3259	97	55	,	,	PUNCT
fsr-3259	97	56	we	we	PRON
fsr-3259	97	57	include	include	VERB
fsr-3259	97	58	only	only	ADJ
fsr-3259	97	59	funds	fund	NOUN
fsr-3259	97	60	that	that	PRON
fsr-3259	97	61	have	have	VERB
fsr-3259	97	62	distinct	distinct	ADJ
fsr-3259	97	63	portfolios	portfolio	NOUN
fsr-3259	97	64	.	.	PUNCT
fsr-3259	98	1	mutual	mutual	ADJ
fsr-3259	98	2	funds	fund	NOUN
fsr-3259	98	3	offer	offer	VERB
fsr-3259	98	4	multiple	multiple	ADJ
fsr-3259	98	5	shares	share	NOUN
fsr-3259	98	6	,	,	PUNCT
fsr-3259	98	7	but	but	CCONJ
fsr-3259	98	8	they	they	PRON
fsr-3259	98	9	usually	usually	ADV
fsr-3259	98	10	have	have	VERB
fsr-3259	98	11	the	the	DET
fsr-3259	98	12	same	same	ADJ
fsr-3259	98	13	portfolio	portfolio	NOUN
fsr-3259	98	14	managers	manager	NOUN
fsr-3259	98	15	,	,	PUNCT
fsr-3259	98	16	the	the	DET
fsr-3259	98	17	same	same	ADJ
fsr-3259	98	18	pool	pool	NOUN
fsr-3259	98	19	of	of	ADP
fsr-3259	98	20	securities	security	NOUN
fsr-3259	98	21	,	,	PUNCT
fsr-3259	98	22	and	and	CCONJ
fsr-3259	98	23	the	the	DET
fsr-3259	98	24	same	same	ADJ
fsr-3259	98	25	returns	return	NOUN
fsr-3259	98	26	before	before	ADP
fsr-3259	98	27	expenses	expense	NOUN
fsr-3259	98	28	and	and	CCONJ
fsr-3259	98	29	loads	load	NOUN
fsr-3259	98	30	(	(	PUNCT
fsr-3259	98	31	zhao	zhao	NOUN
fsr-3259	98	32	,	,	PUNCT
fsr-3259	98	33	2004	2004	NUM
fsr-3259	98	34	)	)	PUNCT
fsr-3259	98	35	.	.	PUNCT
fsr-3259	99	1	the	the	DET
fsr-3259	99	2	morningstar	morningstar	PROPN
fsr-3259	99	3	designates	designate	VERB
fsr-3259	99	4	the	the	DET
fsr-3259	99	5	oldest	old	ADJ
fsr-3259	99	6	share	share	NOUN
fsr-3259	99	7	class	class	NOUN
fsr-3259	99	8	as	as	ADP
fsr-3259	99	9	a	a	DET
fsr-3259	99	10	fund	fund	NOUN
fsr-3259	99	11	that	that	PRON
fsr-3259	99	12	has	have	VERB
fsr-3259	99	13	the	the	DET
fsr-3259	99	14	distinct	distinct	ADJ
fsr-3259	99	15	portfolio.5	portfolio.5	NOUN
fsr-3259	99	16	relying	rely	VERB
fsr-3259	99	17	on	on	ADP
fsr-3259	99	18	the	the	DET
fsr-3259	99	19	information	information	NOUN
fsr-3259	99	20	provided	provide	VERB
fsr-3259	99	21	by	by	ADP
fsr-3259	99	22	the	the	DET
fsr-3259	99	23	morningstar	morningstar	NOUN
fsr-3259	99	24	,	,	PUNCT
fsr-3259	99	25	we	we	PRON
fsr-3259	99	26	include	include	VERB
fsr-3259	99	27	only	only	ADJ
fsr-3259	99	28	funds	fund	NOUN
fsr-3259	99	29	that	that	PRON
fsr-3259	99	30	are	be	AUX
fsr-3259	99	31	identified	identify	VERB
fsr-3259	99	32	as	as	ADP
fsr-3259	99	33	ones	one	NOUN
fsr-3259	99	34	that	that	PRON
fsr-3259	99	35	have	have	VERB
fsr-3259	99	36	distinct	distinct	ADJ
fsr-3259	99	37	portfolios	portfolio	NOUN
fsr-3259	99	38	.	.	PUNCT
fsr-3259	100	1	fourth	fourth	ADJ
fsr-3259	100	2	,	,	PUNCT
fsr-3259	100	3	we	we	PRON
fsr-3259	100	4	include	include	VERB
fsr-3259	100	5	only	only	ADJ
fsr-3259	100	6	funds	fund	NOUN
fsr-3259	100	7	that	that	PRON
fsr-3259	100	8	existed	exist	VERB
fsr-3259	100	9	for	for	ADP
fsr-3259	100	10	the	the	DET
fsr-3259	100	11	period	period	NOUN
fsr-3259	100	12	of	of	ADP
fsr-3259	100	13	2001	2001	NUM
fsr-3259	100	14	to	to	ADP
fsr-3259	100	15	2006	2006	NUM
fsr-3259	100	16	.	.	PUNCT
fsr-3259	101	1	last	last	ADJ
fsr-3259	101	2	,	,	PUNCT
fsr-3259	101	3	we	we	PRON
fsr-3259	101	4	exclude	exclude	VERB
fsr-3259	101	5	14	14	NUM
fsr-3259	101	6	observations	observation	NOUN
fsr-3259	101	7	where	where	SCONJ
fsr-3259	101	8	a	a	DET
fsr-3259	101	9	fund	fund	NOUN
fsr-3259	101	10	’s	’s	PART
fsr-3259	101	11	expense	expense	NOUN
fsr-3259	101	12	ratio	ratio	NOUN
fsr-3259	101	13	is	be	AUX
fsr-3259	101	14	less	less	ADJ
fsr-3259	101	15	than	than	ADP
fsr-3259	101	16	its	its	PRON
fsr-3259	101	17	management	management	NOUN
fsr-3259	101	18	fee.6	fee.6	NOUN
fsr-3259	101	19	after	after	ADP
fsr-3259	101	20	all	all	PRON
fsr-3259	101	21	of	of	ADP
fsr-3259	101	22	these	these	DET
fsr-3259	101	23	data	data	NOUN
fsr-3259	101	24	-	-	PUNCT
fsr-3259	101	25	cleaning	clean	VERB
fsr-3259	101	26	steps	step	NOUN
fsr-3259	101	27	,	,	PUNCT
fsr-3259	101	28	we	we	PRON
fsr-3259	101	29	have	have	VERB
fsr-3259	101	30	a	a	DET
fsr-3259	101	31	sample	sample	NOUN
fsr-3259	101	32	of	of	ADP
fsr-3259	101	33	154	154	NUM
fsr-3259	101	34	u.s	u.s	PROPN
fsr-3259	101	35	.	.	PROPN
fsr-3259	101	36	equity	equity	NOUN
fsr-3259	101	37	funds	fund	NOUN
fsr-3259	101	38	from	from	ADP
fsr-3259	101	39	46	46	NUM
fsr-3259	101	40	fund	fund	NOUN
fsr-3259	101	41	families	family	NOUN
fsr-3259	101	42	.	.	PUNCT
fsr-3259	102	1	4	4	X
fsr-3259	102	2	.	.	X
fsr-3259	102	3	methodology	methodology	NOUN
fsr-3259	102	4	4.1	4.1	NUM
fsr-3259	102	5	.	.	PUNCT
fsr-3259	103	1	fund	fund	NOUN
fsr-3259	103	2	commonalities	commonality	NOUN
fsr-3259	103	3	:	:	PUNCT
fsr-3259	103	4	common	common	ADJ
fsr-3259	103	5	stock	stock	NOUN
fsr-3259	103	6	holding	holding	NOUN
fsr-3259	103	7	and	and	CCONJ
fsr-3259	103	8	multi	multi	ADJ
fsr-3259	103	9	-	-	ADJ
fsr-3259	103	10	fund	fund	ADJ
fsr-3259	103	11	management	management	NOUN
fsr-3259	103	12	as	as	ADP
fsr-3259	103	13	proxies	proxy	NOUN
fsr-3259	103	14	to	to	PART
fsr-3259	103	15	capture	capture	VERB
fsr-3259	103	16	the	the	DET
fsr-3259	103	17	commonality	commonality	NOUN
fsr-3259	103	18	of	of	ADP
fsr-3259	103	19	funds	fund	NOUN
fsr-3259	103	20	within	within	ADP
fsr-3259	103	21	a	a	DET
fsr-3259	103	22	family	family	NOUN
fsr-3259	103	23	,	,	PUNCT
fsr-3259	103	24	we	we	PRON
fsr-3259	103	25	use	use	VERB
fsr-3259	103	26	common	common	ADJ
fsr-3259	103	27	stock	stock	NOUN
fsr-3259	103	28	holdings	holding	NOUN
fsr-3259	103	29	and	and	CCONJ
fsr-3259	103	30	multi	multi	ADJ
fsr-3259	103	31	-	-	ADJ
fsr-3259	103	32	fund	fund	ADJ
fsr-3259	103	33	management	management	NOUN
fsr-3259	103	34	(	(	PUNCT
fsr-3259	103	35	or	or	CCONJ
fsr-3259	103	36	the	the	DET
fsr-3259	103	37	management	management	NOUN
fsr-3259	103	38	of	of	ADP
fsr-3259	103	39	multiple	multiple	ADJ
fsr-3259	103	40	funds	fund	NOUN
fsr-3259	103	41	)	)	PUNCT
fsr-3259	103	42	.	.	PUNCT
fsr-3259	104	1	first	first	ADV
fsr-3259	104	2	,	,	PUNCT
fsr-3259	104	3	we	we	PRON
fsr-3259	104	4	define	define	VERB
fsr-3259	104	5	common	common	ADJ
fsr-3259	104	6	stock	stock	NOUN
fsr-3259	104	7	holdings	holding	NOUN
fsr-3259	104	8	of	of	ADP
fsr-3259	104	9	funds	fund	NOUN
fsr-3259	104	10	within	within	ADP
fsr-3259	104	11	a	a	DET
fsr-3259	104	12	family	family	NOUN
fsr-3259	104	13	as	as	SCONJ
fsr-3259	104	14	follows	follow	VERB
fsr-3259	104	15	:	:	PUNCT
fsr-3259	104	16	matchhijt	matchhijt	PROPN
fsr-3259	104	17	�	�	PROPN
fsr-3259	104	18	�	�	PROPN
fsr-3259	104	19	k	k	PROPN
fsr-3259	104	20	min	min	PROPN
fsr-3259	104	21	�	�	PROPN
fsr-3259	104	22	wkit	wkit	NOUN
fsr-3259	104	23	,	,	PUNCT
fsr-3259	104	24	wkjt	wkjt	NOUN
fsr-3259	104	25	�	�	PROPN
fsr-3259	104	26	(	(	PUNCT
fsr-3259	104	27	1	1	NUM
fsr-3259	104	28	)	)	PUNCT
fsr-3259	104	29	where	where	SCONJ
fsr-3259	104	30	wkit	wkit	NOUN
fsr-3259	104	31	and	and	CCONJ
fsr-3259	104	32	wkjt	wkjt	NOUN
fsr-3259	104	33	are	be	AUX
fsr-3259	104	34	the	the	DET
fsr-3259	104	35	weights	weight	NOUN
fsr-3259	104	36	of	of	ADP
fsr-3259	104	37	stock	stock	NOUN
fsr-3259	105	1	k	k	PROPN
fsr-3259	105	2	held	hold	VERB
fsr-3259	105	3	by	by	ADP
fsr-3259	105	4	funds	fund	NOUN
fsr-3259	105	5	i	i	PRON
fsr-3259	105	6	and	and	CCONJ
fsr-3259	105	7	j	j	PROPN
fsr-3259	105	8	at	at	ADP
fsr-3259	105	9	year	year	NOUN
fsr-3259	105	10	-	-	PUNCT
fsr-3259	105	11	end	end	NOUN
fsr-3259	105	12	t	t	PROPN
fsr-3259	105	13	,	,	PUNCT
fsr-3259	105	14	respectively	respectively	ADV
fsr-3259	105	15	,	,	PUNCT
fsr-3259	105	16	and	and	CCONJ
fsr-3259	105	17	the	the	DET
fsr-3259	105	18	sum	sum	NOUN
fsr-3259	105	19	is	be	AUX
fsr-3259	105	20	taken	take	VERB
fsr-3259	105	21	over	over	ADP
fsr-3259	105	22	all	all	DET
fsr-3259	105	23	the	the	DET
fsr-3259	105	24	stocks	stock	NOUN
fsr-3259	105	25	in	in	ADP
fsr-3259	105	26	both	both	DET
fsr-3259	105	27	funds	fund	NOUN
fsr-3259	105	28	.	.	PUNCT
fsr-3259	106	1	funds	fund	NOUN
fsr-3259	106	2	i	i	PRON
fsr-3259	106	3	and	and	CCONJ
fsr-3259	106	4	j	j	PROPN
fsr-3259	106	5	have	have	VERB
fsr-3259	106	6	different	different	ADJ
fsr-3259	106	7	investment	investment	NOUN
fsr-3259	106	8	objectives	objective	NOUN
fsr-3259	106	9	.	.	PUNCT
fsr-3259	107	1	a	a	DET
fsr-3259	107	2	fund	fund	NOUN
fsr-3259	107	3	’s	’s	PART
fsr-3259	107	4	stock	stock	NOUN
fsr-3259	107	5	holding	holding	NOUN
fsr-3259	107	6	is	be	AUX
fsr-3259	107	7	determined	determine	VERB
fsr-3259	107	8	by	by	ADP
fsr-3259	107	9	using	use	VERB
fsr-3259	107	10	the	the	DET
fsr-3259	107	11	information	information	NOUN
fsr-3259	107	12	reported	report	VERB
fsr-3259	107	13	on	on	ADP
fsr-3259	107	14	the	the	DET
fsr-3259	107	15	date	date	NOUN
fsr-3259	107	16	closest	close	ADJ
fsr-3259	107	17	to	to	ADP
fsr-3259	107	18	the	the	DET
fsr-3259	107	19	end	end	NOUN
fsr-3259	107	20	of	of	ADP
fsr-3259	107	21	the	the	DET
fsr-3259	107	22	year	year	NOUN
fsr-3259	107	23	t.	t.	PROPN
fsr-3259	107	24	matchhijt	matchhijt	PROPN
fsr-3259	107	25	ranges	range	VERB
fsr-3259	107	26	from	from	ADP
fsr-3259	107	27	0	0	NUM
fsr-3259	107	28	to	to	ADP
fsr-3259	107	29	1	1	NUM
fsr-3259	107	30	.	.	PUNCT
fsr-3259	108	1	it	it	PRON
fsr-3259	108	2	is	be	AUX
fsr-3259	108	3	equal	equal	ADJ
fsr-3259	108	4	to	to	ADP
fsr-3259	108	5	0	0	NUM
fsr-3259	108	6	when	when	SCONJ
fsr-3259	108	7	the	the	DET
fsr-3259	108	8	two	two	NUM
fsr-3259	108	9	funds	fund	NOUN
fsr-3259	108	10	do	do	AUX
fsr-3259	108	11	not	not	PART
fsr-3259	108	12	have	have	VERB
fsr-3259	108	13	any	any	DET
fsr-3259	108	14	common	common	ADJ
fsr-3259	108	15	stock	stock	NOUN
fsr-3259	108	16	holdings	holding	NOUN
fsr-3259	108	17	in	in	ADP
fsr-3259	108	18	their	their	PRON
fsr-3259	108	19	portfolios	portfolio	NOUN
fsr-3259	108	20	at	at	ADP
fsr-3259	108	21	year	year	NOUN
fsr-3259	108	22	-	-	PUNCT
fsr-3259	108	23	end	end	NOUN
fsr-3259	108	24	t	t	PROPN
fsr-3259	108	25	;	;	PUNCT
fsr-3259	108	26	it	it	PRON
fsr-3259	108	27	is	be	AUX
fsr-3259	108	28	equal	equal	ADJ
fsr-3259	108	29	to	to	ADP
fsr-3259	108	30	1	1	NUM
fsr-3259	108	31	when	when	SCONJ
fsr-3259	108	32	they	they	PRON
fsr-3259	108	33	hold	hold	VERB
fsr-3259	108	34	exactly	exactly	ADV
fsr-3259	108	35	the	the	DET
fsr-3259	108	36	same	same	ADJ
fsr-3259	108	37	portfolios	portfolio	NOUN
fsr-3259	108	38	at	at	ADP
fsr-3259	108	39	year	year	NOUN
fsr-3259	108	40	-	-	PUNCT
fsr-3259	108	41	end	end	NOUN
fsr-3259	108	42	t.	t.	NOUN
fsr-3259	108	43	in	in	ADP
fsr-3259	108	44	addition	addition	NOUN
fsr-3259	108	45	,	,	PUNCT
fsr-3259	108	46	to	to	PART
fsr-3259	108	47	indicate	indicate	VERB
fsr-3259	108	48	fund	fund	NOUN
fsr-3259	108	49	table	table	NOUN
fsr-3259	108	50	1	1	NUM
fsr-3259	108	51	investment	investment	NOUN
fsr-3259	108	52	objective	objective	ADJ
fsr-3259	108	53	classifications	classification	NOUN
fsr-3259	108	54	for	for	ADP
fsr-3259	108	55	equity	equity	NOUN
fsr-3259	108	56	mutual	mutual	ADJ
fsr-3259	108	57	funds	fund	NOUN
fsr-3259	108	58	icdi	icdi	VERB
fsr-3259	108	59	classification	classification	NOUN
fsr-3259	108	60	si	si	NOUN
fsr-3259	108	61	classification	classification	NOUN
fsr-3259	108	62	aggressive	aggressive	ADJ
fsr-3259	108	63	growth	growth	NOUN
fsr-3259	108	64	(	(	PUNCT
fsr-3259	108	65	ag	ag	PROPN
fsr-3259	108	66	)	)	PUNCT
fsr-3259	108	67	aggressive	aggressive	ADJ
fsr-3259	108	68	growth	growth	NOUN
fsr-3259	108	69	(	(	PUNCT
fsr-3259	108	70	agg	agg	PROPN
fsr-3259	108	71	)	)	PUNCT
fsr-3259	108	72	and	and	CCONJ
fsr-3259	108	73	small	small	ADJ
fsr-3259	108	74	company	company	NOUN
fsr-3259	108	75	growth	growth	NOUN
fsr-3259	108	76	(	(	PUNCT
fsr-3259	108	77	scg	scg	NOUN
fsr-3259	108	78	)	)	PUNCT
fsr-3259	108	79	growth	growth	NOUN
fsr-3259	108	80	and	and	CCONJ
fsr-3259	108	81	income	income	NOUN
fsr-3259	108	82	(	(	PUNCT
fsr-3259	108	83	gi	gi	NOUN
fsr-3259	108	84	)	)	PUNCT
fsr-3259	108	85	growth	growth	NOUN
fsr-3259	108	86	and	and	CCONJ
fsr-3259	108	87	income	income	NOUN
fsr-3259	108	88	(	(	PUNCT
fsr-3259	108	89	gri	gri	PROPN
fsr-3259	108	90	)	)	PUNCT
fsr-3259	108	91	and	and	CCONJ
fsr-3259	108	92	income	income	NOUN
fsr-3259	108	93	and	and	CCONJ
fsr-3259	108	94	growth	growth	NOUN
fsr-3259	108	95	(	(	PUNCT
fsr-3259	108	96	ing	ing	ADJ
fsr-3259	108	97	)	)	PUNCT
fsr-3259	108	98	long	long	ADJ
fsr-3259	108	99	-	-	PUNCT
fsr-3259	108	100	term	term	NOUN
fsr-3259	108	101	growth	growth	NOUN
fsr-3259	108	102	(	(	PUNCT
fsr-3259	108	103	lg	lg	NOUN
fsr-3259	108	104	)	)	PUNCT
fsr-3259	108	105	growth	growth	NOUN
fsr-3259	108	106	(	(	PUNCT
fsr-3259	108	107	gro	gro	NOUN
fsr-3259	108	108	)	)	PUNCT
fsr-3259	108	109	and	and	CCONJ
fsr-3259	108	110	growth	growth	NOUN
fsr-3259	108	111	mid	mid	NOUN
fsr-3259	108	112	-	-	NOUN
fsr-3259	108	113	cap	cap	NOUN
fsr-3259	108	114	(	(	PUNCT
fsr-3259	108	115	gmc	gmc	ADJ
fsr-3259	108	116	)	)	PUNCT
fsr-3259	108	117	notes	note	VERB
fsr-3259	108	118	:	:	PUNCT
fsr-3259	108	119	this	this	DET
fsr-3259	108	120	article	article	NOUN
fsr-3259	108	121	uses	use	VERB
fsr-3259	108	122	the	the	DET
fsr-3259	108	123	investment	investment	NOUN
fsr-3259	108	124	company	company	NOUN
fsr-3259	108	125	data	data	PROPN
fsr-3259	108	126	,	,	PUNCT
fsr-3259	108	127	inc	inc	PROPN
fsr-3259	108	128	.	.	PROPN
fsr-3259	108	129	’s	’s	PART
fsr-3259	108	130	(	(	PUNCT
fsr-3259	108	131	icdi	icdi	NOUN
fsr-3259	108	132	)	)	PUNCT
fsr-3259	108	133	classifications	classification	NOUN
fsr-3259	108	134	that	that	PRON
fsr-3259	108	135	are	be	AUX
fsr-3259	108	136	matched	match	VERB
fsr-3259	108	137	with	with	ADP
fsr-3259	108	138	the	the	DET
fsr-3259	108	139	strategic	strategic	ADJ
fsr-3259	108	140	insight	insight	NOUN
fsr-3259	108	141	(	(	PUNCT
fsr-3259	108	142	si	si	NOUN
fsr-3259	108	143	)	)	PUNCT
fsr-3259	108	144	classifications	classification	NOUN
fsr-3259	108	145	.	.	PUNCT
fsr-3259	109	1	the	the	DET
fsr-3259	109	2	matching	matching	NOUN
fsr-3259	109	3	is	be	AUX
fsr-3259	109	4	conducted	conduct	VERB
fsr-3259	109	5	on	on	ADP
fsr-3259	109	6	the	the	DET
fsr-3259	109	7	basis	basis	NOUN
fsr-3259	109	8	of	of	ADP
fsr-3259	109	9	a	a	DET
fsr-3259	109	10	two	two	NUM
fsr-3259	109	11	-	-	PUNCT
fsr-3259	109	12	way	way	NOUN
fsr-3259	109	13	table	table	NOUN
fsr-3259	109	14	of	of	ADP
fsr-3259	109	15	icdi	icdi	NOUN
fsr-3259	109	16	and	and	CCONJ
fsr-3259	109	17	si	si	NOUN
fsr-3259	109	18	classifications	classification	NOUN
fsr-3259	109	19	for	for	ADP
fsr-3259	109	20	the	the	DET
fsr-3259	109	21	period	period	NOUN
fsr-3259	109	22	of	of	ADP
fsr-3259	109	23	january	january	PROPN
fsr-3259	109	24	2001	2001	NUM
fsr-3259	109	25	to	to	ADP
fsr-3259	109	26	june	june	PROPN
fsr-3259	109	27	2003	2003	NUM
fsr-3259	109	28	.	.	PUNCT
fsr-3259	110	1	the	the	DET
fsr-3259	110	2	icdi	icdi	PROPN
fsr-3259	110	3	classifications	classification	NOUN
fsr-3259	110	4	are	be	AUX
fsr-3259	110	5	not	not	PART
fsr-3259	110	6	available	available	ADJ
fsr-3259	110	7	from	from	ADP
fsr-3259	110	8	the	the	DET
fsr-3259	110	9	crsp	crsp	PROPN
fsr-3259	110	10	database	database	NOUN
fsr-3259	110	11	after	after	ADP
fsr-3259	110	12	july	july	PROPN
fsr-3259	110	13	2003	2003	NUM
fsr-3259	110	14	.	.	PUNCT
fsr-3259	111	1	34	34	NUM
fsr-3259	111	2	y.	y.	PROPN
fsr-3259	111	3	park	park	PROPN
fsr-3259	111	4	/	/	SYM
fsr-3259	111	5	financial	financial	ADJ
fsr-3259	111	6	services	service	NOUN
fsr-3259	111	7	review	review	VERB
fsr-3259	111	8	25	25	NUM
fsr-3259	111	9	(	(	PUNCT
fsr-3259	111	10	2016	2016	NUM
fsr-3259	111	11	)	)	PUNCT
fsr-3259	111	12	29–49	29–49	NUM
fsr-3259	112	1	i	i	PRON
fsr-3259	112	2	’s	’	VERB
fsr-3259	112	3	common	common	ADJ
fsr-3259	112	4	stock	stock	NOUN
fsr-3259	112	5	holdings	holding	NOUN
fsr-3259	112	6	for	for	ADP
fsr-3259	112	7	all	all	DET
fsr-3259	112	8	other	other	ADJ
fsr-3259	112	9	investment	investment	NOUN
fsr-3259	112	10	objective	objective	ADJ
fsr-3259	112	11	funds	fund	NOUN
fsr-3259	112	12	in	in	ADP
fsr-3259	112	13	the	the	DET
fsr-3259	112	14	same	same	ADJ
fsr-3259	112	15	family	family	NOUN
fsr-3259	112	16	,	,	PUNCT
fsr-3259	112	17	we	we	PRON
fsr-3259	112	18	modify	modify	VERB
fsr-3259	112	19	eq	eq	ADP
fsr-3259	112	20	.	.	PUNCT
fsr-3259	113	1	(	(	PUNCT
fsr-3259	113	2	1	1	NUM
fsr-3259	113	3	)	)	PUNCT
fsr-3259	113	4	,	,	PUNCT
fsr-3259	113	5	which	which	PRON
fsr-3259	113	6	is	be	AUX
fsr-3259	113	7	defined	define	VERB
fsr-3259	113	8	for	for	ADP
fsr-3259	113	9	a	a	DET
fsr-3259	113	10	pair	pair	NOUN
fsr-3259	113	11	of	of	ADP
fsr-3259	113	12	funds	fund	NOUN
fsr-3259	113	13	,	,	PUNCT
fsr-3259	113	14	as	as	SCONJ
fsr-3259	113	15	follows	follow	VERB
fsr-3259	113	16	:	:	PUNCT
fsr-3259	113	17	comhit	comhit	PROPN
fsr-3259	113	18	�	�	PROPN
fsr-3259	113	19	�	�	PROPN
fsr-3259	113	20	j	j	PROPN
fsr-3259	113	21	�	�	PROPN
fsr-3259	113	22	1	1	NUM
fsr-3259	113	23	l	l	NOUN
fsr-3259	113	24	matchhijt	matchhijt	NOUN
fsr-3259	113	25	l	l	NOUN
fsr-3259	113	26	(	(	PUNCT
fsr-3259	113	27	2	2	NUM
fsr-3259	113	28	)	)	PUNCT
fsr-3259	113	29	where	where	SCONJ
fsr-3259	113	30	matchhijt	matchhijt	NOUN
fsr-3259	113	31	is	be	AUX
fsr-3259	113	32	the	the	DET
fsr-3259	113	33	common	common	ADJ
fsr-3259	113	34	stock	stock	NOUN
fsr-3259	113	35	holdings	holding	NOUN
fsr-3259	113	36	of	of	ADP
fsr-3259	113	37	funds	fund	NOUN
fsr-3259	114	1	i	i	PRON
fsr-3259	114	2	and	and	CCONJ
fsr-3259	114	3	j	j	PROPN
fsr-3259	114	4	at	at	ADP
fsr-3259	114	5	year	year	NOUN
fsr-3259	114	6	-	-	PUNCT
fsr-3259	114	7	end	end	NOUN
fsr-3259	114	8	t	t	NOUN
fsr-3259	114	9	and	and	CCONJ
fsr-3259	114	10	the	the	DET
fsr-3259	114	11	sum	sum	NOUN
fsr-3259	114	12	is	be	AUX
fsr-3259	114	13	taken	take	VERB
fsr-3259	114	14	over	over	ADP
fsr-3259	114	15	l	l	NOUN
fsr-3259	114	16	,	,	PUNCT
fsr-3259	114	17	which	which	PRON
fsr-3259	114	18	indicates	indicate	VERB
fsr-3259	114	19	the	the	DET
fsr-3259	114	20	total	total	ADJ
fsr-3259	114	21	number	number	NOUN
fsr-3259	114	22	of	of	ADP
fsr-3259	114	23	funds	fund	NOUN
fsr-3259	114	24	in	in	ADP
fsr-3259	114	25	all	all	DET
fsr-3259	114	26	other	other	ADJ
fsr-3259	114	27	investment	investment	NOUN
fsr-3259	114	28	objectives	objective	NOUN
fsr-3259	114	29	that	that	PRON
fsr-3259	114	30	are	be	AUX
fsr-3259	114	31	different	different	ADJ
fsr-3259	114	32	from	from	ADP
fsr-3259	114	33	fund	fund	NOUN
fsr-3259	114	34	i	i	PRON
fsr-3259	114	35	’s	’	VERB
fsr-3259	114	36	investment	investment	NOUN
fsr-3259	114	37	objective	objective	NOUN
fsr-3259	114	38	.	.	PUNCT
fsr-3259	115	1	thus	thus	ADV
fsr-3259	115	2	,	,	PUNCT
fsr-3259	115	3	comhit	comhit	PROPN
fsr-3259	115	4	indicates	indicate	VERB
fsr-3259	115	5	the	the	DET
fsr-3259	115	6	average	average	ADJ
fsr-3259	115	7	weight	weight	NOUN
fsr-3259	115	8	of	of	ADP
fsr-3259	115	9	common	common	ADJ
fsr-3259	115	10	stock	stock	NOUN
fsr-3259	115	11	holdings	holding	NOUN
fsr-3259	115	12	in	in	ADP
fsr-3259	115	13	a	a	DET
fsr-3259	115	14	portfolio	portfolio	NOUN
fsr-3259	115	15	of	of	ADP
fsr-3259	115	16	fund	fund	NOUN
fsr-3259	115	17	i	i	PRON
fsr-3259	115	18	at	at	ADP
fsr-3259	115	19	year	year	NOUN
fsr-3259	115	20	-	-	PUNCT
fsr-3259	115	21	end	end	NOUN
fsr-3259	115	22	t.	t.	NOUN
fsr-3259	115	23	second	second	ADJ
fsr-3259	115	24	,	,	PUNCT
fsr-3259	115	25	we	we	PRON
fsr-3259	115	26	define	define	VERB
fsr-3259	115	27	multi	multi	ADJ
fsr-3259	115	28	-	-	ADJ
fsr-3259	115	29	fund	fund	ADJ
fsr-3259	115	30	management	management	NOUN
fsr-3259	115	31	as	as	SCONJ
fsr-3259	115	32	follows	follow	VERB
fsr-3259	115	33	:	:	PUNCT
fsr-3259	115	34	matchmijt	matchmijt	PROPN
fsr-3259	115	35	�	�	PROPN
fsr-3259	115	36	�	�	PROPN
fsr-3259	115	37	1	1	NUM
fsr-3259	115	38	,	,	PUNCT
fsr-3259	115	39	if	if	SCONJ
fsr-3259	115	40	there	there	PRON
fsr-3259	115	41	is	be	VERB
fsr-3259	115	42	at	at	ADV
fsr-3259	115	43	least	least	ADJ
fsr-3259	115	44	one	one	NUM
fsr-3259	115	45	multi	multi	ADJ
fsr-3259	115	46	-	-	ADJ
fsr-3259	115	47	fund	fund	ADJ
fsr-3259	115	48	manager	manager	NOUN
fsr-3259	115	49	between	between	ADP
fsr-3259	115	50	funds	fund	NOUN
fsr-3259	115	51	i	i	PRON
fsr-3259	115	52	and	and	CCONJ
fsr-3259	115	53	j	j	PROPN
fsr-3259	115	54	0	0	NUM
fsr-3259	115	55	,	,	PUNCT
fsr-3259	115	56	otherwise	otherwise	ADV
fsr-3259	115	57	(	(	PUNCT
fsr-3259	115	58	3	3	X
fsr-3259	115	59	)	)	PUNCT
fsr-3259	115	60	where	where	SCONJ
fsr-3259	115	61	funds	fund	NOUN
fsr-3259	115	62	i	i	PRON
fsr-3259	115	63	and	and	CCONJ
fsr-3259	115	64	j	j	PROPN
fsr-3259	115	65	have	have	VERB
fsr-3259	115	66	different	different	ADJ
fsr-3259	115	67	investment	investment	NOUN
fsr-3259	115	68	objectives	objective	NOUN
fsr-3259	115	69	.	.	PUNCT
fsr-3259	116	1	to	to	PART
fsr-3259	116	2	determine	determine	VERB
fsr-3259	116	3	a	a	DET
fsr-3259	116	4	fund	fund	NOUN
fsr-3259	116	5	’s	’s	PART
fsr-3259	116	6	managers	manager	NOUN
fsr-3259	116	7	,	,	PUNCT
fsr-3259	116	8	we	we	PRON
fsr-3259	116	9	use	use	VERB
fsr-3259	116	10	a	a	DET
fsr-3259	116	11	measure	measure	NOUN
fsr-3259	116	12	of	of	ADP
fsr-3259	116	13	whether	whether	SCONJ
fsr-3259	116	14	or	or	CCONJ
fsr-3259	116	15	not	not	PART
fsr-3259	116	16	they	they	PRON
fsr-3259	116	17	manage	manage	VERB
fsr-3259	116	18	the	the	DET
fsr-3259	116	19	fund	fund	NOUN
fsr-3259	116	20	at	at	ADP
fsr-3259	116	21	the	the	DET
fsr-3259	116	22	end	end	NOUN
fsr-3259	116	23	of	of	ADP
fsr-3259	116	24	the	the	DET
fsr-3259	116	25	year	year	NOUN
fsr-3259	116	26	.	.	PUNCT
fsr-3259	117	1	matchmijt	matchmijt	PROPN
fsr-3259	117	2	takes	take	VERB
fsr-3259	117	3	a	a	DET
fsr-3259	117	4	value	value	NOUN
fsr-3259	117	5	of	of	ADP
fsr-3259	117	6	1	1	NUM
fsr-3259	117	7	if	if	SCONJ
fsr-3259	117	8	there	there	PRON
fsr-3259	117	9	is	be	VERB
fsr-3259	117	10	at	at	ADV
fsr-3259	117	11	least	least	ADJ
fsr-3259	117	12	one	one	NUM
fsr-3259	117	13	multi	multi	ADJ
fsr-3259	117	14	-	-	ADJ
fsr-3259	117	15	fund	fund	ADJ
fsr-3259	117	16	manager	manager	NOUN
fsr-3259	117	17	between	between	ADP
fsr-3259	117	18	funds	fund	NOUN
fsr-3259	117	19	i	i	PRON
fsr-3259	117	20	and	and	CCONJ
fsr-3259	117	21	j	j	PROPN
fsr-3259	117	22	at	at	ADP
fsr-3259	117	23	year	year	NOUN
fsr-3259	117	24	-	-	PUNCT
fsr-3259	117	25	end	end	NOUN
fsr-3259	117	26	t	t	NOUN
fsr-3259	117	27	and	and	CCONJ
fsr-3259	117	28	0	0	NUM
fsr-3259	117	29	if	if	SCONJ
fsr-3259	117	30	there	there	PRON
fsr-3259	117	31	is	be	VERB
fsr-3259	117	32	no	no	DET
fsr-3259	117	33	multi	multi	ADJ
fsr-3259	117	34	-	-	ADJ
fsr-3259	117	35	fund	fund	ADJ
fsr-3259	117	36	manager	manager	NOUN
fsr-3259	117	37	between	between	ADP
fsr-3259	117	38	the	the	DET
fsr-3259	117	39	funds	fund	NOUN
fsr-3259	117	40	at	at	ADP
fsr-3259	117	41	year	year	NOUN
fsr-3259	117	42	-	-	PUNCT
fsr-3259	117	43	end	end	NOUN
fsr-3259	117	44	t.	t.	NOUN
fsr-3259	117	45	in	in	ADP
fsr-3259	117	46	addition	addition	NOUN
fsr-3259	117	47	,	,	PUNCT
fsr-3259	117	48	to	to	PART
fsr-3259	117	49	indicate	indicate	VERB
fsr-3259	117	50	whether	whether	SCONJ
fsr-3259	117	51	or	or	CCONJ
fsr-3259	117	52	not	not	PART
fsr-3259	117	53	fund	fund	NOUN
fsr-3259	117	54	i	i	PRON
fsr-3259	117	55	is	be	AUX
fsr-3259	117	56	managed	manage	VERB
fsr-3259	117	57	by	by	ADP
fsr-3259	117	58	fund	fund	NOUN
fsr-3259	117	59	managers	manager	NOUN
fsr-3259	117	60	who	who	PRON
fsr-3259	117	61	simultaneously	simultaneously	ADV
fsr-3259	117	62	manage	manage	VERB
fsr-3259	117	63	funds	fund	NOUN
fsr-3259	117	64	in	in	ADP
fsr-3259	117	65	other	other	ADJ
fsr-3259	117	66	investment	investment	NOUN
fsr-3259	117	67	objectives	objective	NOUN
fsr-3259	117	68	,	,	PUNCT
fsr-3259	117	69	we	we	PRON
fsr-3259	117	70	modify	modify	VERB
fsr-3259	117	71	matchmijt	matchmijt	PROPN
fsr-3259	117	72	,	,	PUNCT
fsr-3259	117	73	which	which	PRON
fsr-3259	117	74	is	be	AUX
fsr-3259	117	75	defined	define	VERB
fsr-3259	117	76	for	for	ADP
fsr-3259	117	77	a	a	DET
fsr-3259	117	78	pair	pair	NOUN
fsr-3259	117	79	of	of	ADP
fsr-3259	117	80	funds	fund	NOUN
fsr-3259	117	81	,	,	PUNCT
fsr-3259	117	82	as	as	SCONJ
fsr-3259	117	83	follows	follow	VERB
fsr-3259	117	84	:	:	PUNCT
fsr-3259	117	85	commit	commit	VERB
fsr-3259	117	86	�	�	PROPN
fsr-3259	117	87	�	�	PROPN
fsr-3259	117	88	1	1	NUM
fsr-3259	117	89	,	,	PUNCT
fsr-3259	118	1	if	if	SCONJ
fsr-3259	118	2	�	�	PROPN
fsr-3259	118	3	j	j	PROPN
fsr-3259	118	4	�	�	PROPN
fsr-3259	118	5	1	1	NUM
fsr-3259	118	6	l	l	NOUN
fsr-3259	118	7	matchmijt	matchmijt	NOUN
fsr-3259	118	8	�	�	PROPN
fsr-3259	118	9	0	0	NUM
fsr-3259	118	10	0	0	NUM
fsr-3259	118	11	,	,	PUNCT
fsr-3259	118	12	if	if	SCONJ
fsr-3259	118	13	�	�	PROPN
fsr-3259	118	14	j	j	PROPN
fsr-3259	118	15	�	�	PROPN
fsr-3259	118	16	1	1	NUM
fsr-3259	118	17	l	l	NOUN
fsr-3259	118	18	matchmijt	matchmijt	NOUN
fsr-3259	118	19	�	�	PROPN
fsr-3259	118	20	0	0	NUM
fsr-3259	118	21	(	(	PUNCT
fsr-3259	118	22	4	4	NUM
fsr-3259	118	23	)	)	PUNCT
fsr-3259	118	24	where	where	SCONJ
fsr-3259	118	25	matchmijt	matchmijt	PROPN
fsr-3259	118	26	indicates	indicate	VERB
fsr-3259	118	27	the	the	DET
fsr-3259	118	28	multi	multi	ADJ
fsr-3259	118	29	-	-	ADJ
fsr-3259	118	30	fund	fund	ADJ
fsr-3259	118	31	management	management	NOUN
fsr-3259	118	32	that	that	PRON
fsr-3259	118	33	is	be	AUX
fsr-3259	118	34	defined	define	VERB
fsr-3259	118	35	for	for	ADP
fsr-3259	118	36	a	a	DET
fsr-3259	118	37	pair	pair	NOUN
fsr-3259	118	38	of	of	ADP
fsr-3259	118	39	funds	fund	NOUN
fsr-3259	118	40	i	i	PRON
fsr-3259	118	41	and	and	CCONJ
fsr-3259	118	42	j	j	PROPN
fsr-3259	118	43	at	at	ADP
fsr-3259	118	44	year	year	NOUN
fsr-3259	118	45	-	-	PUNCT
fsr-3259	118	46	end	end	NOUN
fsr-3259	118	47	t	t	NOUN
fsr-3259	118	48	and	and	CCONJ
fsr-3259	118	49	the	the	DET
fsr-3259	118	50	sum	sum	NOUN
fsr-3259	118	51	is	be	AUX
fsr-3259	118	52	taken	take	VERB
fsr-3259	118	53	over	over	ADP
fsr-3259	118	54	l	l	NOUN
fsr-3259	118	55	,	,	PUNCT
fsr-3259	118	56	which	which	PRON
fsr-3259	118	57	indicates	indicate	VERB
fsr-3259	118	58	the	the	DET
fsr-3259	118	59	total	total	ADJ
fsr-3259	118	60	number	number	NOUN
fsr-3259	118	61	of	of	ADP
fsr-3259	118	62	funds	fund	NOUN
fsr-3259	118	63	in	in	ADP
fsr-3259	118	64	all	all	DET
fsr-3259	118	65	other	other	ADJ
fsr-3259	118	66	investment	investment	NOUN
fsr-3259	118	67	objectives	objective	NOUN
fsr-3259	118	68	that	that	PRON
fsr-3259	118	69	are	be	AUX
fsr-3259	118	70	different	different	ADJ
fsr-3259	118	71	from	from	ADP
fsr-3259	118	72	fund	fund	NOUN
fsr-3259	118	73	i	i	PRON
fsr-3259	118	74	’s	’	VERB
fsr-3259	118	75	investment	investment	NOUN
fsr-3259	118	76	objective	objective	NOUN
fsr-3259	118	77	.	.	PUNCT
fsr-3259	119	1	commit	commit	VERB
fsr-3259	119	2	takes	take	VERB
fsr-3259	119	3	a	a	DET
fsr-3259	119	4	value	value	NOUN
fsr-3259	119	5	of	of	ADP
fsr-3259	119	6	1	1	NUM
fsr-3259	119	7	if	if	SCONJ
fsr-3259	119	8	fund	fund	NOUN
fsr-3259	119	9	i	i	PRON
fsr-3259	119	10	is	be	AUX
fsr-3259	119	11	managed	manage	VERB
fsr-3259	119	12	by	by	ADP
fsr-3259	119	13	at	at	ADV
fsr-3259	119	14	least	least	ADV
fsr-3259	119	15	one	one	NUM
fsr-3259	119	16	multi	multi	ADJ
fsr-3259	119	17	-	-	ADJ
fsr-3259	119	18	fund	fund	NOUN
fsr-3259	119	19	manager	manager	NOUN
fsr-3259	119	20	at	at	ADP
fsr-3259	119	21	year	year	NOUN
fsr-3259	119	22	-	-	PUNCT
fsr-3259	119	23	end	end	NOUN
fsr-3259	119	24	t	t	NOUN
fsr-3259	119	25	and	and	CCONJ
fsr-3259	119	26	0	0	NUM
fsr-3259	119	27	if	if	SCONJ
fsr-3259	119	28	fund	fund	NOUN
fsr-3259	119	29	i	i	PRON
fsr-3259	119	30	is	be	AUX
fsr-3259	119	31	managed	manage	VERB
fsr-3259	119	32	by	by	ADP
fsr-3259	119	33	fund	fund	NOUN
fsr-3259	119	34	managers	manager	NOUN
fsr-3259	119	35	who	who	PRON
fsr-3259	119	36	do	do	AUX
fsr-3259	119	37	not	not	PART
fsr-3259	119	38	manage	manage	VERB
fsr-3259	119	39	other	other	ADJ
fsr-3259	119	40	investment	investment	NOUN
fsr-3259	119	41	objective	objective	ADJ
fsr-3259	119	42	funds	fund	NOUN
fsr-3259	119	43	at	at	ADP
fsr-3259	119	44	year	year	NOUN
fsr-3259	119	45	-	-	PUNCT
fsr-3259	119	46	end	end	NOUN
fsr-3259	119	47	t.	t.	NOUN
fsr-3259	119	48	4.2	4.2	NUM
fsr-3259	119	49	.	.	PUNCT
fsr-3259	120	1	model	model	NOUN
fsr-3259	120	2	specification	specification	PROPN
fsr-3259	120	3	4.2.1	4.2.1	NUM
fsr-3259	120	4	.	.	PUNCT
fsr-3259	120	5	fund	fund	NOUN
fsr-3259	120	6	commonalities	commonality	NOUN
fsr-3259	120	7	and	and	CCONJ
fsr-3259	120	8	operating	operating	NOUN
fsr-3259	120	9	expenses	expense	NOUN
fsr-3259	120	10	to	to	PART
fsr-3259	120	11	test	test	VERB
fsr-3259	120	12	the	the	DET
fsr-3259	120	13	hypotheses	hypothesis	NOUN
fsr-3259	120	14	on	on	ADP
fsr-3259	120	15	relationships	relationship	NOUN
fsr-3259	120	16	between	between	ADP
fsr-3259	120	17	fund	fund	NOUN
fsr-3259	120	18	commonalities	commonality	NOUN
fsr-3259	120	19	and	and	CCONJ
fsr-3259	120	20	fund	fund	NOUN
fsr-3259	120	21	operating	operating	NOUN
fsr-3259	120	22	expenses	expense	NOUN
fsr-3259	120	23	(	(	PUNCT
fsr-3259	120	24	h1	h1	PROPN
fsr-3259	120	25	-	-	PUNCT
fsr-3259	120	26	a	a	PRON
fsr-3259	120	27	and	and	CCONJ
fsr-3259	120	28	h1	h1	PROPN
fsr-3259	120	29	-	-	PUNCT
fsr-3259	120	30	b	b	NOUN
fsr-3259	120	31	)	)	PUNCT
fsr-3259	120	32	,	,	PUNCT
fsr-3259	120	33	we	we	PRON
fsr-3259	120	34	estimate	estimate	VERB
fsr-3259	120	35	the	the	DET
fsr-3259	120	36	following	follow	VERB
fsr-3259	120	37	model	model	NOUN
fsr-3259	120	38	:	:	PUNCT
fsr-3259	120	39	expenseit	expenseit	PROPN
fsr-3259	120	40	�	�	PROPN
fsr-3259	120	41	�	�	PROPN
fsr-3259	120	42	0	0	PROPN
fsr-3259	120	43	�	�	PROPN
fsr-3259	120	44	�	�	PROPN
fsr-3259	120	45	1comhit	1comhit	PROPN
fsr-3259	120	46	�	�	PROPN
fsr-3259	120	47	�	�	PROPN
fsr-3259	120	48	2commit	2commit	PROPN
fsr-3259	120	49	�	�	PROPN
fsr-3259	120	50	�	�	PROPN
fsr-3259	120	51	3zt	3zt	PROPN
fsr-3259	120	52	�	�	PROPN
fsr-3259	120	53	vit	vit	NOUN
fsr-3259	120	54	(	(	PUNCT
fsr-3259	120	55	5	5	NUM
fsr-3259	120	56	)	)	PUNCT
fsr-3259	120	57	where	where	SCONJ
fsr-3259	120	58	the	the	DET
fsr-3259	120	59	dependent	dependent	ADJ
fsr-3259	120	60	variable	variable	ADJ
fsr-3259	120	61	expenseit	expenseit	NOUN
fsr-3259	120	62	indicates	indicate	VERB
fsr-3259	120	63	fund	fund	NOUN
fsr-3259	120	64	i	i	PRON
fsr-3259	120	65	’s	’	VERB
fsr-3259	120	66	operating	operate	VERB
fsr-3259	120	67	expense	expense	NOUN
fsr-3259	120	68	,	,	PUNCT
fsr-3259	120	69	management	management	NOUN
fsr-3259	120	70	fee	fee	NOUN
fsr-3259	120	71	,	,	PUNCT
fsr-3259	120	72	or	or	CCONJ
fsr-3259	120	73	other	other	ADJ
fsr-3259	120	74	expenses	expense	NOUN
fsr-3259	120	75	in	in	ADP
fsr-3259	120	76	year	year	NOUN
fsr-3259	120	77	t.	t.	PROPN
fsr-3259	120	78	first	first	ADV
fsr-3259	120	79	,	,	PUNCT
fsr-3259	120	80	we	we	PRON
fsr-3259	120	81	use	use	VERB
fsr-3259	120	82	as	as	ADP
fsr-3259	120	83	the	the	DET
fsr-3259	120	84	dependent	dependent	ADJ
fsr-3259	120	85	variable	variable	NOUN
fsr-3259	120	86	a	a	DET
fsr-3259	120	87	fund	fund	NOUN
fsr-3259	120	88	’s	’s	PART
fsr-3259	120	89	operating	operate	VERB
fsr-3259	120	90	expense	expense	NOUN
fsr-3259	120	91	ratio	ratio	NOUN
fsr-3259	120	92	that	that	PRON
fsr-3259	120	93	is	be	AUX
fsr-3259	120	94	computed	compute	VERB
fsr-3259	120	95	by	by	ADP
fsr-3259	120	96	subtracting	subtract	VERB
fsr-3259	120	97	a	a	DET
fsr-3259	120	98	12b-1	12b-1	NUM
fsr-3259	120	99	fee	fee	NOUN
fsr-3259	120	100	from	from	ADP
fsr-3259	120	101	a	a	DET
fsr-3259	120	102	fund	fund	NOUN
fsr-3259	120	103	’s	’s	PART
fsr-3259	120	104	expense	expense	NOUN
fsr-3259	120	105	ratio	ratio	NOUN
fsr-3259	120	106	35y	35y	NUM
fsr-3259	120	107	.	.	PUNCT
fsr-3259	121	1	park	park	NOUN
fsr-3259	121	2	/	/	SYM
fsr-3259	121	3	financial	financial	ADJ
fsr-3259	121	4	services	service	NOUN
fsr-3259	121	5	review	review	VERB
fsr-3259	121	6	25	25	NUM
fsr-3259	121	7	(	(	PUNCT
fsr-3259	121	8	2016	2016	NUM
fsr-3259	121	9	)	)	PUNCT
fsr-3259	121	10	29–49	29–49	NUM
fsr-3259	121	11	(	(	PUNCT
fsr-3259	121	12	collins	collin	NOUN
fsr-3259	121	13	,	,	PUNCT
fsr-3259	121	14	2003	2003	NUM
fsr-3259	121	15	)	)	PUNCT
fsr-3259	121	16	.	.	PUNCT
fsr-3259	122	1	to	to	PART
fsr-3259	122	2	calculate	calculate	VERB
fsr-3259	122	3	a	a	DET
fsr-3259	122	4	fund	fund	NOUN
fsr-3259	122	5	’s	’s	PART
fsr-3259	122	6	operating	operate	VERB
fsr-3259	122	7	expense	expense	NOUN
fsr-3259	122	8	ratio	ratio	NOUN
fsr-3259	122	9	,	,	PUNCT
fsr-3259	122	10	we	we	PRON
fsr-3259	122	11	use	use	VERB
fsr-3259	122	12	fund	fund	NOUN
fsr-3259	122	13	expense	expense	NOUN
fsr-3259	122	14	ratios	ratio	NOUN
fsr-3259	122	15	from	from	ADP
fsr-3259	122	16	the	the	DET
fsr-3259	122	17	crsp	crsp	PROPN
fsr-3259	122	18	database	database	NOUN
fsr-3259	122	19	and	and	CCONJ
fsr-3259	122	20	12b-1	12b-1	NUM
fsr-3259	122	21	fees	fee	NOUN
fsr-3259	122	22	from	from	ADP
fsr-3259	122	23	the	the	DET
fsr-3259	122	24	morningstar	morningstar	PROPN
fsr-3259	122	25	database	database	NOUN
fsr-3259	122	26	.	.	PUNCT
fsr-3259	123	1	this	this	PRON
fsr-3259	123	2	enables	enable	VERB
fsr-3259	123	3	us	we	PRON
fsr-3259	123	4	to	to	PART
fsr-3259	123	5	include	include	VERB
fsr-3259	123	6	more	more	ADJ
fsr-3259	123	7	valid	valid	ADJ
fsr-3259	123	8	observations	observation	NOUN
fsr-3259	123	9	in	in	ADP
fsr-3259	123	10	the	the	DET
fsr-3259	123	11	sample	sample	NOUN
fsr-3259	123	12	.	.	PUNCT
fsr-3259	124	1	for	for	ADP
fsr-3259	124	2	our	our	PRON
fsr-3259	124	3	sample	sample	NOUN
fsr-3259	124	4	,	,	PUNCT
fsr-3259	124	5	the	the	DET
fsr-3259	124	6	crsp	crsp	NOUN
fsr-3259	124	7	provides	provide	VERB
fsr-3259	124	8	fewer	few	ADJ
fsr-3259	124	9	missing	missing	ADJ
fsr-3259	124	10	values	value	NOUN
fsr-3259	124	11	for	for	ADP
fsr-3259	124	12	a	a	DET
fsr-3259	124	13	fund	fund	NOUN
fsr-3259	124	14	’s	’s	PART
fsr-3259	124	15	expense	expense	NOUN
fsr-3259	124	16	ratio	ratio	NOUN
fsr-3259	124	17	than	than	ADP
fsr-3259	124	18	the	the	DET
fsr-3259	124	19	morningstar	morningstar	NOUN
fsr-3259	124	20	,	,	PUNCT
fsr-3259	124	21	while	while	SCONJ
fsr-3259	124	22	the	the	DET
fsr-3259	124	23	morningstar	morningstar	NOUN
fsr-3259	124	24	provides	provide	VERB
fsr-3259	124	25	fewer	few	ADJ
fsr-3259	124	26	missing	missing	ADJ
fsr-3259	124	27	values	value	NOUN
fsr-3259	124	28	for	for	ADP
fsr-3259	124	29	a	a	DET
fsr-3259	124	30	fund	fund	NOUN
fsr-3259	124	31	’s	’s	PART
fsr-3259	124	32	12b-1	12b-1	NUM
fsr-3259	124	33	fee	fee	NOUN
fsr-3259	124	34	than	than	ADP
fsr-3259	124	35	the	the	DET
fsr-3259	124	36	crsp	crsp	NOUN
fsr-3259	124	37	.	.	PUNCT
fsr-3259	125	1	for	for	ADP
fsr-3259	125	2	example	example	NOUN
fsr-3259	125	3	,	,	PUNCT
fsr-3259	125	4	if	if	SCONJ
fsr-3259	125	5	we	we	PRON
fsr-3259	125	6	use	use	VERB
fsr-3259	125	7	the	the	DET
fsr-3259	125	8	data	datum	NOUN
fsr-3259	125	9	on	on	ADP
fsr-3259	125	10	12b-1	12b-1	NUM
fsr-3259	125	11	fees	fee	NOUN
fsr-3259	125	12	from	from	ADP
fsr-3259	125	13	the	the	DET
fsr-3259	125	14	crsp	crsp	NOUN
fsr-3259	125	15	,	,	PUNCT
fsr-3259	125	16	we	we	PRON
fsr-3259	125	17	would	would	AUX
fsr-3259	125	18	lose	lose	VERB
fsr-3259	125	19	about	about	ADV
fsr-3259	125	20	47	47	NUM
fsr-3259	125	21	%	%	NOUN
fsr-3259	125	22	of	of	ADP
fsr-3259	125	23	the	the	DET
fsr-3259	125	24	sample	sample	NOUN
fsr-3259	125	25	.	.	PUNCT
fsr-3259	126	1	second	second	ADJ
fsr-3259	126	2	,	,	PUNCT
fsr-3259	126	3	we	we	PRON
fsr-3259	126	4	use	use	VERB
fsr-3259	126	5	a	a	DET
fsr-3259	126	6	fund	fund	NOUN
fsr-3259	126	7	’s	’s	PART
fsr-3259	126	8	management	management	NOUN
fsr-3259	126	9	fee	fee	NOUN
fsr-3259	126	10	as	as	ADP
fsr-3259	126	11	the	the	DET
fsr-3259	126	12	dependent	dependent	ADJ
fsr-3259	126	13	variable	variable	NOUN
fsr-3259	126	14	.	.	PUNCT
fsr-3259	127	1	for	for	ADP
fsr-3259	127	2	management	management	NOUN
fsr-3259	127	3	fees	fee	NOUN
fsr-3259	127	4	,	,	PUNCT
fsr-3259	127	5	we	we	PRON
fsr-3259	127	6	use	use	VERB
fsr-3259	127	7	the	the	DET
fsr-3259	127	8	morningstar	morningstar	NOUN
fsr-3259	127	9	database	database	NOUN
fsr-3259	127	10	because	because	SCONJ
fsr-3259	127	11	the	the	DET
fsr-3259	127	12	management	management	NOUN
fsr-3259	127	13	fee	fee	NOUN
fsr-3259	127	14	provided	provide	VERB
fsr-3259	127	15	by	by	ADP
fsr-3259	127	16	the	the	DET
fsr-3259	127	17	crsp	crsp	NOUN
fsr-3259	127	18	can	can	AUX
fsr-3259	127	19	be	be	AUX
fsr-3259	127	20	offset	offset	VERB
fsr-3259	127	21	by	by	ADP
fsr-3259	127	22	fee	fee	NOUN
fsr-3259	127	23	waivers	waiver	NOUN
fsr-3259	127	24	and	and	CCONJ
fsr-3259	127	25	reimbursements	reimbursement	NOUN
fsr-3259	127	26	,	,	PUNCT
fsr-3259	127	27	which	which	PRON
fsr-3259	127	28	can	can	AUX
fsr-3259	127	29	lead	lead	VERB
fsr-3259	127	30	to	to	ADP
fsr-3259	127	31	negative	negative	ADJ
fsr-3259	127	32	management	management	NOUN
fsr-3259	127	33	fees	fee	NOUN
fsr-3259	127	34	.	.	PUNCT
fsr-3259	128	1	these	these	DET
fsr-3259	128	2	negative	negative	ADJ
fsr-3259	128	3	management	management	NOUN
fsr-3259	128	4	fees	fee	NOUN
fsr-3259	128	5	might	might	AUX
fsr-3259	128	6	distort	distort	VERB
fsr-3259	128	7	a	a	DET
fsr-3259	128	8	relationship	relationship	NOUN
fsr-3259	128	9	between	between	ADP
fsr-3259	128	10	fund	fund	NOUN
fsr-3259	128	11	commonalties	commonalty	NOUN
fsr-3259	128	12	and	and	CCONJ
fsr-3259	128	13	management	management	NOUN
fsr-3259	128	14	fees	fee	NOUN
fsr-3259	128	15	.	.	PUNCT
fsr-3259	129	1	third	third	ADJ
fsr-3259	129	2	,	,	PUNCT
fsr-3259	129	3	we	we	PRON
fsr-3259	129	4	use	use	VERB
fsr-3259	129	5	a	a	DET
fsr-3259	129	6	fund	fund	NOUN
fsr-3259	129	7	’s	’s	PART
fsr-3259	129	8	other	other	ADJ
fsr-3259	129	9	expense	expense	NOUN
fsr-3259	129	10	ratio	ratio	NOUN
fsr-3259	129	11	as	as	ADP
fsr-3259	129	12	the	the	DET
fsr-3259	129	13	dependent	dependent	ADJ
fsr-3259	129	14	variable	variable	NOUN
fsr-3259	129	15	.	.	PUNCT
fsr-3259	130	1	a	a	DET
fsr-3259	130	2	fund	fund	NOUN
fsr-3259	130	3	’s	’s	PART
fsr-3259	130	4	other	other	ADJ
fsr-3259	130	5	expenses	expense	NOUN
fsr-3259	130	6	include	include	VERB
fsr-3259	130	7	fees	fee	NOUN
fsr-3259	130	8	for	for	ADP
fsr-3259	130	9	administrative	administrative	ADJ
fsr-3259	130	10	and	and	CCONJ
fsr-3259	130	11	business	business	NOUN
fsr-3259	130	12	services	service	NOUN
fsr-3259	130	13	,	,	PUNCT
fsr-3259	130	14	such	such	ADJ
fsr-3259	130	15	as	as	ADP
fsr-3259	130	16	legal	legal	ADJ
fsr-3259	130	17	,	,	PUNCT
fsr-3259	130	18	accounting	accounting	NOUN
fsr-3259	130	19	,	,	PUNCT
fsr-3259	130	20	and	and	CCONJ
fsr-3259	130	21	administrative	administrative	ADJ
fsr-3259	130	22	services	service	NOUN
fsr-3259	130	23	(	(	PUNCT
fsr-3259	130	24	collins	collin	NOUN
fsr-3259	130	25	,	,	PUNCT
fsr-3259	130	26	2003	2003	NUM
fsr-3259	130	27	;	;	PUNCT
fsr-3259	130	28	mahoney	mahoney	PROPN
fsr-3259	130	29	,	,	PUNCT
fsr-3259	130	30	2004	2004	NUM
fsr-3259	130	31	)	)	PUNCT
fsr-3259	130	32	.	.	PUNCT
fsr-3259	131	1	a	a	DET
fsr-3259	131	2	fund	fund	NOUN
fsr-3259	131	3	’s	’s	PART
fsr-3259	131	4	other	other	ADJ
fsr-3259	131	5	expense	expense	NOUN
fsr-3259	131	6	ratio	ratio	NOUN
fsr-3259	131	7	is	be	AUX
fsr-3259	131	8	computed	compute	VERB
fsr-3259	131	9	by	by	ADP
fsr-3259	131	10	subtracting	subtract	VERB
fsr-3259	131	11	a	a	DET
fsr-3259	131	12	management	management	NOUN
fsr-3259	131	13	fee	fee	NOUN
fsr-3259	131	14	from	from	ADP
fsr-3259	131	15	a	a	DET
fsr-3259	131	16	fund	fund	NOUN
fsr-3259	131	17	’s	’s	PART
fsr-3259	131	18	operating	operate	VERB
fsr-3259	131	19	expense	expense	NOUN
fsr-3259	131	20	ratio	ratio	NOUN
fsr-3259	131	21	.	.	PUNCT
fsr-3259	132	1	eq	eq	ADJ
fsr-3259	132	2	.	.	PUNCT
fsr-3259	133	1	(	(	PUNCT
fsr-3259	133	2	5	5	NUM
fsr-3259	133	3	)	)	PUNCT
fsr-3259	133	4	also	also	ADV
fsr-3259	133	5	includes	include	VERB
fsr-3259	133	6	a	a	DET
fsr-3259	133	7	set	set	NOUN
fsr-3259	133	8	of	of	ADP
fsr-3259	133	9	control	control	NOUN
fsr-3259	133	10	variables	variable	NOUN
fsr-3259	133	11	(	(	PUNCT
fsr-3259	133	12	z	z	NOUN
fsr-3259	133	13	)	)	PUNCT
fsr-3259	133	14	at	at	ADP
fsr-3259	133	15	fund	fund	NOUN
fsr-3259	133	16	and	and	CCONJ
fsr-3259	133	17	family	family	NOUN
fsr-3259	133	18	levels	level	NOUN
fsr-3259	133	19	.	.	PUNCT
fsr-3259	134	1	following	follow	VERB
fsr-3259	134	2	prior	prior	ADJ
fsr-3259	134	3	studies	study	NOUN
fsr-3259	134	4	,	,	PUNCT
fsr-3259	134	5	we	we	PRON
fsr-3259	134	6	first	first	ADV
fsr-3259	134	7	include	include	VERB
fsr-3259	134	8	a	a	DET
fsr-3259	134	9	fund	fund	NOUN
fsr-3259	134	10	’s	’s	PART
fsr-3259	134	11	annual	annual	ADJ
fsr-3259	134	12	turnover	turnover	NOUN
fsr-3259	134	13	ratio	ratio	NOUN
fsr-3259	134	14	that	that	PRON
fsr-3259	134	15	represents	represent	VERB
fsr-3259	134	16	trading	trading	NOUN
fsr-3259	134	17	activity	activity	NOUN
fsr-3259	134	18	.	.	PUNCT
fsr-3259	135	1	a	a	DET
fsr-3259	135	2	fund	fund	NOUN
fsr-3259	135	3	with	with	ADP
fsr-3259	135	4	a	a	DET
fsr-3259	135	5	higher	high	ADJ
fsr-3259	135	6	turnover	turnover	NOUN
fsr-3259	135	7	ratio	ratio	NOUN
fsr-3259	135	8	is	be	AUX
fsr-3259	135	9	likely	likely	ADJ
fsr-3259	135	10	to	to	PART
fsr-3259	135	11	have	have	VERB
fsr-3259	135	12	a	a	DET
fsr-3259	135	13	higher	high	ADJ
fsr-3259	135	14	expense	expense	NOUN
fsr-3259	135	15	ratio	ratio	NOUN
fsr-3259	135	16	because	because	SCONJ
fsr-3259	135	17	of	of	ADP
fsr-3259	135	18	active	active	ADJ
fsr-3259	135	19	trading	trading	NOUN
fsr-3259	135	20	(	(	PUNCT
fsr-3259	135	21	malhotra	malhotra	PROPN
fsr-3259	135	22	and	and	CCONJ
fsr-3259	135	23	mcleod	mcleod	PROPN
fsr-3259	135	24	,	,	PUNCT
fsr-3259	135	25	1997	1997	NUM
fsr-3259	135	26	)	)	PUNCT
fsr-3259	135	27	.	.	PUNCT
fsr-3259	136	1	the	the	DET
fsr-3259	136	2	higher	high	ADJ
fsr-3259	136	3	expense	expense	NOUN
fsr-3259	136	4	ratio	ratio	NOUN
fsr-3259	136	5	caused	cause	VERB
fsr-3259	136	6	by	by	ADP
fsr-3259	136	7	the	the	DET
fsr-3259	136	8	active	active	ADJ
fsr-3259	136	9	trading	trading	NOUN
fsr-3259	136	10	,	,	PUNCT
fsr-3259	136	11	however	however	ADV
fsr-3259	136	12	,	,	PUNCT
fsr-3259	136	13	may	may	AUX
fsr-3259	136	14	result	result	VERB
fsr-3259	136	15	from	from	ADP
fsr-3259	136	16	an	an	DET
fsr-3259	136	17	increase	increase	NOUN
fsr-3259	136	18	in	in	ADP
fsr-3259	136	19	a	a	DET
fsr-3259	136	20	fund	fund	NOUN
fsr-3259	136	21	’s	’s	PART
fsr-3259	136	22	other	other	ADJ
fsr-3259	136	23	expenses	expense	NOUN
fsr-3259	136	24	because	because	SCONJ
fsr-3259	136	25	they	they	PRON
fsr-3259	136	26	include	include	VERB
fsr-3259	136	27	registration	registration	NOUN
fsr-3259	136	28	fees	fee	NOUN
fsr-3259	136	29	on	on	ADP
fsr-3259	136	30	the	the	DET
fsr-3259	136	31	fund	fund	NOUN
fsr-3259	136	32	shares	share	NOUN
fsr-3259	136	33	sold	sell	VERB
fsr-3259	136	34	each	each	DET
fsr-3259	136	35	year	year	NOUN
fsr-3259	136	36	and	and	CCONJ
fsr-3259	136	37	custodial	custodial	ADJ
fsr-3259	136	38	fees	fee	NOUN
fsr-3259	136	39	that	that	PRON
fsr-3259	136	40	cover	cover	VERB
fsr-3259	136	41	the	the	DET
fsr-3259	136	42	costs	cost	NOUN
fsr-3259	136	43	of	of	ADP
fsr-3259	136	44	settling	settle	VERB
fsr-3259	136	45	trades	trade	NOUN
fsr-3259	136	46	(	(	PUNCT
fsr-3259	136	47	latzko	latzko	NOUN
fsr-3259	136	48	,	,	PUNCT
fsr-3259	136	49	2003	2003	NUM
fsr-3259	136	50	)	)	PUNCT
fsr-3259	136	51	.	.	PUNCT
fsr-3259	137	1	second	second	ADJ
fsr-3259	137	2	,	,	PUNCT
fsr-3259	137	3	we	we	PRON
fsr-3259	137	4	control	control	VERB
fsr-3259	137	5	for	for	ADP
fsr-3259	137	6	a	a	DET
fsr-3259	137	7	fund	fund	NOUN
fsr-3259	137	8	’s	’s	PART
fsr-3259	137	9	load	load	NOUN
fsr-3259	137	10	,	,	PUNCT
fsr-3259	137	11	using	use	VERB
fsr-3259	137	12	a	a	DET
fsr-3259	137	13	dummy	dummy	ADJ
fsr-3259	137	14	variable	variable	NOUN
fsr-3259	137	15	,	,	PUNCT
fsr-3259	137	16	which	which	PRON
fsr-3259	137	17	indicates	indicate	VERB
fsr-3259	137	18	whether	whether	SCONJ
fsr-3259	137	19	or	or	CCONJ
fsr-3259	137	20	not	not	PART
fsr-3259	137	21	a	a	DET
fsr-3259	137	22	fund	fund	NOUN
fsr-3259	137	23	has	have	VERB
fsr-3259	137	24	a	a	DET
fsr-3259	137	25	sales	sale	NOUN
fsr-3259	137	26	load	load	NOUN
fsr-3259	137	27	(	(	PUNCT
fsr-3259	137	28	either	either	CCONJ
fsr-3259	137	29	a	a	DET
fsr-3259	137	30	front	front	ADJ
fsr-3259	137	31	-	-	PUNCT
fsr-3259	137	32	end	end	NOUN
fsr-3259	137	33	or	or	CCONJ
fsr-3259	137	34	back	back	ADJ
fsr-3259	137	35	-	-	PUNCT
fsr-3259	137	36	end	end	NOUN
fsr-3259	137	37	load	load	NOUN
fsr-3259	137	38	)	)	PUNCT
fsr-3259	137	39	.	.	PUNCT
fsr-3259	138	1	the	the	DET
fsr-3259	138	2	variable	variable	NOUN
fsr-3259	138	3	takes	take	VERB
fsr-3259	138	4	a	a	DET
fsr-3259	138	5	value	value	NOUN
fsr-3259	138	6	of	of	ADP
fsr-3259	138	7	1	1	NUM
fsr-3259	138	8	if	if	SCONJ
fsr-3259	138	9	a	a	DET
fsr-3259	138	10	fund	fund	NOUN
fsr-3259	138	11	has	have	VERB
fsr-3259	138	12	any	any	DET
fsr-3259	138	13	sales	sale	NOUN
fsr-3259	138	14	loads	load	NOUN
fsr-3259	138	15	and	and	CCONJ
fsr-3259	138	16	0	0	NUM
fsr-3259	138	17	otherwise	otherwise	ADV
fsr-3259	138	18	.	.	PUNCT
fsr-3259	139	1	third	third	ADV
fsr-3259	139	2	,	,	PUNCT
fsr-3259	139	3	we	we	PRON
fsr-3259	139	4	control	control	VERB
fsr-3259	139	5	for	for	ADP
fsr-3259	139	6	a	a	DET
fsr-3259	139	7	fund	fund	NOUN
fsr-3259	139	8	’s	’s	PART
fsr-3259	139	9	investment	investment	NOUN
fsr-3259	139	10	objective	objective	NOUN
fsr-3259	139	11	,	,	PUNCT
fsr-3259	139	12	using	use	VERB
fsr-3259	139	13	two	two	NUM
fsr-3259	139	14	dummy	dummy	ADJ
fsr-3259	139	15	variables	variable	NOUN
fsr-3259	139	16	with	with	ADP
fsr-3259	139	17	a	a	DET
fsr-3259	139	18	base	base	ADJ
fsr-3259	139	19	category	category	NOUN
fsr-3259	139	20	of	of	ADP
fsr-3259	139	21	ag	ag	PROPN
fsr-3259	139	22	.	.	PUNCT
fsr-3259	140	1	fourth	fourth	ADJ
fsr-3259	140	2	,	,	PUNCT
fsr-3259	140	3	we	we	PRON
fsr-3259	140	4	control	control	VERB
fsr-3259	140	5	for	for	ADP
fsr-3259	140	6	fund	fund	NOUN
fsr-3259	140	7	size	size	NOUN
fsr-3259	140	8	and	and	CCONJ
fsr-3259	140	9	family	family	NOUN
fsr-3259	140	10	size	size	NOUN
fsr-3259	140	11	,	,	PUNCT
fsr-3259	140	12	using	use	VERB
fsr-3259	140	13	the	the	DET
fsr-3259	140	14	natural	natural	ADJ
fsr-3259	140	15	logarithm	logarithm	NOUN
fsr-3259	140	16	of	of	ADP
fsr-3259	140	17	one	one	NUM
fsr-3259	140	18	plus	plus	CCONJ
fsr-3259	140	19	a	a	DET
fsr-3259	140	20	fund	fund	NOUN
fsr-3259	140	21	’s	’s	PART
fsr-3259	140	22	year	year	NOUN
fsr-3259	140	23	-	-	PUNCT
fsr-3259	140	24	end	end	NOUN
fsr-3259	140	25	total	total	ADJ
fsr-3259	140	26	net	net	ADJ
fsr-3259	140	27	assets	asset	NOUN
fsr-3259	140	28	(	(	PUNCT
fsr-3259	140	29	in	in	ADP
fsr-3259	140	30	billions	billion	NOUN
fsr-3259	140	31	)	)	PUNCT
fsr-3259	140	32	and	and	CCONJ
fsr-3259	140	33	the	the	DET
fsr-3259	140	34	natural	natural	ADJ
fsr-3259	140	35	logarithm	logarithm	NOUN
fsr-3259	140	36	of	of	ADP
fsr-3259	140	37	one	one	NUM
fsr-3259	140	38	plus	plus	CCONJ
fsr-3259	140	39	the	the	DET
fsr-3259	140	40	year	year	NOUN
fsr-3259	140	41	-	-	PUNCT
fsr-3259	140	42	end	end	NOUN
fsr-3259	140	43	total	total	ADJ
fsr-3259	140	44	net	net	ADJ
fsr-3259	140	45	assets	asset	NOUN
fsr-3259	140	46	(	(	PUNCT
fsr-3259	140	47	in	in	ADP
fsr-3259	140	48	billions	billion	NOUN
fsr-3259	140	49	)	)	PUNCT
fsr-3259	140	50	managed	manage	VERB
fsr-3259	140	51	by	by	ADP
fsr-3259	140	52	a	a	DET
fsr-3259	140	53	family	family	NOUN
fsr-3259	140	54	,	,	PUNCT
fsr-3259	140	55	respectively	respectively	ADV
fsr-3259	140	56	.	.	PUNCT
fsr-3259	141	1	last	last	ADJ
fsr-3259	141	2	,	,	PUNCT
fsr-3259	141	3	we	we	PRON
fsr-3259	141	4	include	include	VERB
fsr-3259	141	5	family	family	NOUN
fsr-3259	141	6	fixed	fix	VERB
fsr-3259	141	7	effects	effect	NOUN
fsr-3259	141	8	,	,	PUNCT
fsr-3259	141	9	which	which	PRON
fsr-3259	141	10	control	control	VERB
fsr-3259	141	11	for	for	ADP
fsr-3259	141	12	unobserved	unobserved	ADJ
fsr-3259	141	13	time	time	NOUN
fsr-3259	141	14	-	-	PUNCT
fsr-3259	141	15	invariant	invariant	ADJ
fsr-3259	141	16	family	family	NOUN
fsr-3259	141	17	characteristics	characteristic	NOUN
fsr-3259	141	18	such	such	ADJ
fsr-3259	141	19	as	as	ADP
fsr-3259	141	20	different	different	ADJ
fsr-3259	141	21	strategic	strategic	ADJ
fsr-3259	141	22	behaviors	behavior	NOUN
fsr-3259	141	23	at	at	ADP
fsr-3259	141	24	a	a	DET
fsr-3259	141	25	family	family	NOUN
fsr-3259	141	26	level	level	NOUN
fsr-3259	141	27	(	(	PUNCT
fsr-3259	141	28	e.g.	e.g.	ADJ
fsr-3259	141	29	,	,	PUNCT
fsr-3259	141	30	clare	clare	NOUN
fsr-3259	141	31	,	,	PUNCT
fsr-3259	141	32	o’sullivan	o’sullivan	PROPN
fsr-3259	141	33	,	,	PUNCT
fsr-3259	141	34	and	and	CCONJ
fsr-3259	141	35	sherman	sherman	PROPN
fsr-3259	141	36	,	,	PUNCT
fsr-3259	141	37	2014	2014	NUM
fsr-3259	141	38	;	;	PUNCT
fsr-3259	141	39	gaspar	gaspar	NOUN
fsr-3259	141	40	,	,	PUNCT
fsr-3259	141	41	massa	massa	NOUN
fsr-3259	141	42	,	,	PUNCT
fsr-3259	141	43	and	and	CCONJ
fsr-3259	141	44	matos	mato	NOUN
fsr-3259	141	45	,	,	PUNCT
fsr-3259	141	46	2006	2006	NUM
fsr-3259	141	47	)	)	PUNCT
fsr-3259	141	48	,	,	PUNCT
fsr-3259	141	49	and	and	CCONJ
fsr-3259	141	50	year	year	NOUN
fsr-3259	141	51	fixed	fix	VERB
fsr-3259	141	52	effects	effect	NOUN
fsr-3259	141	53	.	.	PUNCT
fsr-3259	142	1	4.2.2	4.2.2	X
fsr-3259	142	2	.	.	PUNCT
fsr-3259	142	3	fund	fund	NOUN
fsr-3259	142	4	commonalities	commonality	NOUN
fsr-3259	142	5	and	and	CCONJ
fsr-3259	142	6	return	return	VERB
fsr-3259	142	7	residual	residual	ADJ
fsr-3259	142	8	correlation	correlation	NOUN
fsr-3259	142	9	to	to	PART
fsr-3259	142	10	test	test	VERB
fsr-3259	142	11	the	the	DET
fsr-3259	142	12	hypotheses	hypothesis	NOUN
fsr-3259	142	13	on	on	ADP
fsr-3259	142	14	relationships	relationship	NOUN
fsr-3259	142	15	between	between	ADP
fsr-3259	142	16	fund	fund	NOUN
fsr-3259	142	17	commonalities	commonality	NOUN
fsr-3259	142	18	and	and	CCONJ
fsr-3259	142	19	the	the	DET
fsr-3259	142	20	correlation	correlation	NOUN
fsr-3259	142	21	of	of	ADP
fsr-3259	142	22	return	return	NOUN
fsr-3259	142	23	residuals	residual	NOUN
fsr-3259	142	24	(	(	PUNCT
fsr-3259	142	25	h2	h2	NOUN
fsr-3259	142	26	-	-	PUNCT
fsr-3259	142	27	a	a	NOUN
fsr-3259	142	28	and	and	CCONJ
fsr-3259	142	29	h2	h2	NOUN
fsr-3259	142	30	-	-	PUNCT
fsr-3259	142	31	b	b	NOUN
fsr-3259	142	32	)	)	PUNCT
fsr-3259	142	33	,	,	PUNCT
fsr-3259	142	34	we	we	PRON
fsr-3259	142	35	first	first	ADV
fsr-3259	142	36	decompose	decompose	VERB
fsr-3259	142	37	the	the	DET
fsr-3259	142	38	correlation	correlation	NOUN
fsr-3259	142	39	of	of	ADP
fsr-3259	142	40	returns	return	NOUN
fsr-3259	142	41	into	into	ADP
fsr-3259	142	42	two	two	NUM
fsr-3259	142	43	parts	part	NOUN
fsr-3259	142	44	,	,	PUNCT
fsr-3259	142	45	following	follow	VERB
fsr-3259	142	46	elton	elton	PROPN
fsr-3259	142	47	et	et	PROPN
fsr-3259	142	48	al	al	PROPN
fsr-3259	142	49	.	.	PROPN
fsr-3259	142	50	,	,	PUNCT
fsr-3259	142	51	(	(	PUNCT
fsr-3259	142	52	2007	2007	NUM
fsr-3259	142	53	):	):	PUNCT
fsr-3259	142	54	corr	corr	PROPN
fsr-3259	142	55	�	�	PROPN
fsr-3259	142	56	ri	ri	PROPN
fsr-3259	142	57	,	,	PUNCT
fsr-3259	142	58	rj	rj	PROPN
fsr-3259	142	59	�	�	PROPN
fsr-3259	142	60	�	�	PROPN
fsr-3259	142	61	corr	corr	PROPN
fsr-3259	142	62	�	�	PROPN
fsr-3259	142	63	fi	fi	PROPN
fsr-3259	142	64	,	,	PUNCT
fsr-3259	142	65	fj	fj	PROPN
fsr-3259	142	66	�	�	PROPN
fsr-3259	142	67	�	�	PROPN
fsr-3259	142	68	corr	corr	PROPN
fsr-3259	142	69	�	�	PROPN
fsr-3259	142	70	ei	ei	PROPN
fsr-3259	142	71	,	,	PUNCT
fsr-3259	142	72	ej	ej	PROPN
fsr-3259	142	73	�	�	PROPN
fsr-3259	142	74	(	(	PUNCT
fsr-3259	142	75	6	6	NUM
fsr-3259	142	76	)	)	PUNCT
fsr-3259	142	77	where	where	SCONJ
fsr-3259	142	78	corr(ri	corr(ri	NOUN
fsr-3259	142	79	,	,	PUNCT
fsr-3259	142	80	rj	rj	PROPN
fsr-3259	142	81	)	)	PUNCT
fsr-3259	142	82	is	be	AUX
fsr-3259	142	83	the	the	DET
fsr-3259	142	84	correlation	correlation	NOUN
fsr-3259	142	85	of	of	ADP
fsr-3259	142	86	returns	return	NOUN
fsr-3259	142	87	of	of	ADP
fsr-3259	142	88	funds	fund	NOUN
fsr-3259	142	89	i	i	PRON
fsr-3259	142	90	and	and	CCONJ
fsr-3259	142	91	j	j	PROPN
fsr-3259	142	92	;	;	PUNCT
fsr-3259	142	93	corr(fi	corr(fi	NOUN
fsr-3259	142	94	,	,	PUNCT
fsr-3259	142	95	fj	fj	PROPN
fsr-3259	142	96	)	)	PUNCT
fsr-3259	142	97	is	be	AUX
fsr-3259	142	98	the	the	DET
fsr-3259	142	99	correlation	correlation	NOUN
fsr-3259	142	100	of	of	ADP
fsr-3259	142	101	fund	fund	NOUN
fsr-3259	142	102	returns	return	NOUN
fsr-3259	142	103	caused	cause	VERB
fsr-3259	142	104	by	by	ADP
fsr-3259	142	105	systematic	systematic	ADJ
fsr-3259	142	106	movements	movement	NOUN
fsr-3259	142	107	;	;	PUNCT
fsr-3259	142	108	and	and	CCONJ
fsr-3259	142	109	corr(ei	corr(ei	PRON
fsr-3259	142	110	,	,	PUNCT
fsr-3259	142	111	ej	ej	NOUN
fsr-3259	142	112	)	)	PUNCT
fsr-3259	142	113	is	be	AUX
fsr-3259	142	114	the	the	DET
fsr-3259	142	115	correlation	correlation	NOUN
fsr-3259	142	116	of	of	ADP
fsr-3259	142	117	return	return	NOUN
fsr-3259	142	118	residuals	residual	NOUN
fsr-3259	142	119	.	.	PUNCT
fsr-3259	143	1	we	we	PRON
fsr-3259	143	2	calculate	calculate	VERB
fsr-3259	143	3	corr(ei	corr(ei	PROPN
fsr-3259	143	4	,	,	PUNCT
fsr-3259	143	5	ej	ej	PROPN
fsr-3259	143	6	)	)	PUNCT
fsr-3259	143	7	with	with	ADP
fsr-3259	143	8	residuals	residual	NOUN
fsr-3259	143	9	that	that	PRON
fsr-3259	143	10	are	be	AUX
fsr-3259	143	11	obtained	obtain	VERB
fsr-3259	143	12	from	from	ADP
fsr-3259	143	13	estimating	estimate	VERB
fsr-3259	143	14	the	the	DET
fsr-3259	143	15	carhart	carhart	NOUN
fsr-3259	143	16	four	four	NUM
fsr-3259	143	17	-	-	PUNCT
fsr-3259	143	18	factor	factor	NOUN
fsr-3259	143	19	model	model	NOUN
fsr-3259	143	20	(	(	PUNCT
fsr-3259	143	21	carhart	carhart	NOUN
fsr-3259	143	22	,	,	PUNCT
fsr-3259	143	23	1997	1997	NUM
fsr-3259	143	24	):	):	PUNCT
fsr-3259	143	25	36	36	NUM
fsr-3259	143	26	y.	y.	PROPN
fsr-3259	143	27	park	park	PROPN
fsr-3259	143	28	/	/	SYM
fsr-3259	143	29	financial	financial	ADJ
fsr-3259	143	30	services	service	NOUN
fsr-3259	143	31	review	review	VERB
fsr-3259	143	32	25	25	NUM
fsr-3259	143	33	(	(	PUNCT
fsr-3259	143	34	2016	2016	NUM
fsr-3259	143	35	)	)	PUNCT
fsr-3259	143	36	29–49	29–49	NUM
fsr-3259	143	37	rit	rit	PROPN
fsr-3259	143	38	�	�	PROPN
fsr-3259	143	39	rft	rft	PROPN
fsr-3259	143	40	�	�	PROPN
fsr-3259	143	41	�	�	PROPN
fsr-3259	143	42	i	i	PROPN
fsr-3259	143	43	�	�	PROPN
fsr-3259	143	44	�	�	PROPN
fsr-3259	143	45	iem	iem	PROPN
fsr-3259	143	46	�	�	PROPN
fsr-3259	143	47	emt	emt	PROPN
fsr-3259	143	48	�	�	PROPN
fsr-3259	143	49	�	�	PROPN
fsr-3259	143	50	�	�	PROPN
fsr-3259	143	51	ismb	ismb	PROPN
fsr-3259	143	52	�	�	PROPN
fsr-3259	143	53	smbt	smbt	PROPN
fsr-3259	143	54	�	�	PROPN
fsr-3259	143	55	�	�	PROPN
fsr-3259	143	56	�	�	PROPN
fsr-3259	143	57	ihml	ihml	PROPN
fsr-3259	143	58	�	�	PROPN
fsr-3259	143	59	hmlt	hmlt	PROPN
fsr-3259	143	60	�	�	PROPN
fsr-3259	143	61	�	�	PROPN
fsr-3259	143	62	�	�	PROPN
fsr-3259	143	63	imom	imom	NOUN
fsr-3259	143	64	�	�	PROPN
fsr-3259	143	65	momt	momt	PROPN
fsr-3259	143	66	�	�	PROPN
fsr-3259	143	67	�	�	PROPN
fsr-3259	143	68	�	�	PROPN
fsr-3259	143	69	it	it	PRON
fsr-3259	143	70	(	(	PUNCT
fsr-3259	143	71	7	7	NUM
fsr-3259	143	72	)	)	PUNCT
fsr-3259	143	73	where	where	SCONJ
fsr-3259	143	74	rit	rit	NOUN
fsr-3259	143	75	is	be	AUX
fsr-3259	143	76	the	the	DET
fsr-3259	143	77	return	return	NOUN
fsr-3259	143	78	of	of	ADP
fsr-3259	143	79	fund	fund	NOUN
fsr-3259	143	80	i	i	PRON
fsr-3259	143	81	in	in	ADP
fsr-3259	143	82	month	month	NOUN
fsr-3259	143	83	t	t	PROPN
fsr-3259	143	84	;	;	PUNCT
fsr-3259	143	85	rft	rft	NOUN
fsr-3259	143	86	is	be	AUX
fsr-3259	143	87	the	the	DET
fsr-3259	143	88	one	one	NUM
fsr-3259	143	89	-	-	PUNCT
fsr-3259	143	90	month	month	NOUN
fsr-3259	143	91	treasury	treasury	NOUN
fsr-3259	143	92	-	-	PUNCT
fsr-3259	143	93	bill	bill	NOUN
fsr-3259	143	94	rate	rate	NOUN
fsr-3259	143	95	in	in	ADP
fsr-3259	143	96	month	month	NOUN
fsr-3259	143	97	t	t	PROPN
fsr-3259	143	98	;	;	PUNCT
fsr-3259	143	99	emt	emt	PROPN
fsr-3259	143	100	is	be	AUX
fsr-3259	143	101	the	the	DET
fsr-3259	143	102	monthly	monthly	ADJ
fsr-3259	143	103	excess	excess	ADJ
fsr-3259	143	104	return	return	NOUN
fsr-3259	143	105	on	on	ADP
fsr-3259	143	106	the	the	DET
fsr-3259	143	107	market	market	NOUN
fsr-3259	143	108	,	,	PUNCT
fsr-3259	143	109	which	which	PRON
fsr-3259	143	110	is	be	AUX
fsr-3259	143	111	calculated	calculate	VERB
fsr-3259	143	112	by	by	ADP
fsr-3259	143	113	the	the	DET
fsr-3259	143	114	monthly	monthly	ADJ
fsr-3259	143	115	return	return	NOUN
fsr-3259	143	116	of	of	ADP
fsr-3259	143	117	the	the	DET
fsr-3259	143	118	crsp	crsp	PROPN
fsr-3259	143	119	value	value	NOUN
fsr-3259	143	120	-	-	PUNCT
fsr-3259	143	121	weighted	weight	VERB
fsr-3259	143	122	index	index	NOUN
fsr-3259	143	123	less	less	ADJ
fsr-3259	143	124	the	the	DET
fsr-3259	143	125	one	one	NUM
fsr-3259	143	126	-	-	PUNCT
fsr-3259	143	127	month	month	NOUN
fsr-3259	143	128	treasury	treasury	NOUN
fsr-3259	143	129	-	-	PUNCT
fsr-3259	143	130	bill	bill	NOUN
fsr-3259	143	131	rate	rate	NOUN
fsr-3259	143	132	in	in	ADP
fsr-3259	143	133	month	month	NOUN
fsr-3259	143	134	t	t	PROPN
fsr-3259	143	135	;	;	PUNCT
fsr-3259	143	136	smbt	smbt	NOUN
fsr-3259	143	137	,	,	PUNCT
fsr-3259	143	138	hmlt	hmlt	NOUN
fsr-3259	143	139	,	,	PUNCT
fsr-3259	143	140	and	and	CCONJ
fsr-3259	143	141	momt	momt	NOUN
fsr-3259	143	142	denote	denote	VERB
fsr-3259	143	143	the	the	DET
fsr-3259	143	144	size	size	NOUN
fsr-3259	143	145	-	-	PUNCT
fsr-3259	143	146	factor	factor	NOUN
fsr-3259	143	147	,	,	PUNCT
fsr-3259	143	148	the	the	DET
fsr-3259	143	149	book	book	NOUN
fsr-3259	143	150	-	-	PUNCT
fsr-3259	143	151	to	to	ADP
fsr-3259	143	152	-	-	PUNCT
fsr-3259	143	153	market	market	NOUN
fsr-3259	143	154	factor	factor	NOUN
fsr-3259	143	155	,	,	PUNCT
fsr-3259	143	156	and	and	CCONJ
fsr-3259	143	157	the	the	DET
fsr-3259	143	158	momentum	momentum	NOUN
fsr-3259	143	159	factor	factor	NOUN
fsr-3259	143	160	in	in	ADP
fsr-3259	143	161	month	month	NOUN
fsr-3259	143	162	t	t	PROPN
fsr-3259	143	163	,	,	PUNCT
fsr-3259	143	164	respectively	respectively	ADV
fsr-3259	143	165	;	;	PUNCT
fsr-3259	143	166	and	and	CCONJ
fsr-3259	143	167	�	�	NOUN
fsr-3259	143	168	it	it	PRON
fsr-3259	143	169	is	be	AUX
fsr-3259	143	170	a	a	DET
fsr-3259	143	171	random	random	ADJ
fsr-3259	143	172	error	error	NOUN
fsr-3259	143	173	.	.	PUNCT
fsr-3259	144	1	second	second	ADJ
fsr-3259	144	2	,	,	PUNCT
fsr-3259	144	3	we	we	PRON
fsr-3259	144	4	regress	regress	ADV
fsr-3259	144	5	return	return	VERB
fsr-3259	144	6	residual	residual	ADJ
fsr-3259	144	7	correlations	correlation	NOUN
fsr-3259	144	8	(	(	PUNCT
fsr-3259	144	9	corr(ei	corr(ei	PROPN
fsr-3259	144	10	,	,	PUNCT
fsr-3259	144	11	ej	ej	NOUN
fsr-3259	144	12	)	)	PUNCT
fsr-3259	144	13	)	)	PUNCT
fsr-3259	144	14	on	on	ADP
fsr-3259	144	15	the	the	DET
fsr-3259	144	16	average	average	ADJ
fsr-3259	144	17	common	common	ADJ
fsr-3259	144	18	stock	stock	NOUN
fsr-3259	144	19	holding	holding	NOUN
fsr-3259	144	20	and	and	CCONJ
fsr-3259	144	21	the	the	DET
fsr-3259	144	22	multi	multi	ADJ
fsr-3259	144	23	-	-	ADJ
fsr-3259	144	24	fund	fund	ADJ
fsr-3259	144	25	management	management	NOUN
fsr-3259	144	26	between	between	ADP
fsr-3259	144	27	funds	fund	NOUN
fsr-3259	144	28	as	as	SCONJ
fsr-3259	144	29	follows	follow	VERB
fsr-3259	144	30	:	:	PUNCT
fsr-3259	144	31	corr	corr	PROPN
fsr-3259	144	32	�	�	PROPN
fsr-3259	144	33	ei	ei	PROPN
fsr-3259	144	34	,	,	PUNCT
fsr-3259	144	35	ej	ej	PROPN
fsr-3259	144	36	�	�	PROPN
fsr-3259	144	37	�	�	PROPN
fsr-3259	144	38	�	�	PROPN
fsr-3259	144	39	0	0	PROPN
fsr-3259	144	40	�	�	PROPN
fsr-3259	144	41	�	�	PROPN
fsr-3259	144	42	1amatchhij	1amatchhij	PROPN
fsr-3259	144	43	�	�	PROPN
fsr-3259	144	44	�	�	PROPN
fsr-3259	144	45	2amatchmij	2amatchmij	PROPN
fsr-3259	144	46	�	�	PROPN
fsr-3259	144	47	�	�	PROPN
fsr-3259	144	48	3w	3w	PROPN
fsr-3259	144	49	�	�	PROPN
fsr-3259	144	50	uij	uij	PROPN
fsr-3259	144	51	(	(	PUNCT
fsr-3259	144	52	8)	8)	NUM
fsr-3259	144	53	where	where	SCONJ
fsr-3259	144	54	amatchhij	amatchhij	NOUN
fsr-3259	144	55	is	be	AUX
fsr-3259	144	56	the	the	DET
fsr-3259	144	57	average	average	ADJ
fsr-3259	144	58	common	common	ADJ
fsr-3259	144	59	stock	stock	NOUN
fsr-3259	144	60	holding	holding	NOUN
fsr-3259	144	61	between	between	ADP
fsr-3259	144	62	funds	fund	NOUN
fsr-3259	144	63	i	i	PRON
fsr-3259	144	64	and	and	CCONJ
fsr-3259	144	65	j	j	PROPN
fsr-3259	144	66	for	for	ADP
fsr-3259	144	67	the	the	DET
fsr-3259	144	68	period	period	NOUN
fsr-3259	144	69	of	of	ADP
fsr-3259	144	70	2001	2001	NUM
fsr-3259	144	71	to	to	ADP
fsr-3259	144	72	2006	2006	NUM
fsr-3259	144	73	;	;	PUNCT
fsr-3259	144	74	amatchmij	amatchmij	PROPN
fsr-3259	144	75	is	be	AUX
fsr-3259	144	76	a	a	DET
fsr-3259	144	77	dummy	dummy	ADJ
fsr-3259	144	78	variable	variable	NOUN
fsr-3259	144	79	to	to	PART
fsr-3259	144	80	indicate	indicate	VERB
fsr-3259	144	81	whether	whether	SCONJ
fsr-3259	144	82	there	there	PRON
fsr-3259	144	83	exists	exist	VERB
fsr-3259	144	84	any	any	DET
fsr-3259	144	85	multi	multi	ADJ
fsr-3259	144	86	-	-	ADJ
fsr-3259	144	87	fund	fund	ADJ
fsr-3259	144	88	management	management	NOUN
fsr-3259	144	89	between	between	ADP
fsr-3259	144	90	funds	fund	NOUN
fsr-3259	144	91	i	i	PRON
fsr-3259	144	92	and	and	CCONJ
fsr-3259	144	93	j	j	PROPN
fsr-3259	144	94	for	for	ADP
fsr-3259	144	95	the	the	DET
fsr-3259	144	96	period	period	NOUN
fsr-3259	144	97	;	;	PUNCT
fsr-3259	144	98	and	and	CCONJ
fsr-3259	144	99	w	w	NOUN
fsr-3259	144	100	indicates	indicate	VERB
fsr-3259	144	101	a	a	DET
fsr-3259	144	102	set	set	NOUN
fsr-3259	144	103	of	of	ADP
fsr-3259	144	104	control	control	NOUN
fsr-3259	144	105	variables	variable	NOUN
fsr-3259	144	106	at	at	ADP
fsr-3259	144	107	fund	fund	NOUN
fsr-3259	144	108	and	and	CCONJ
fsr-3259	144	109	family	family	NOUN
fsr-3259	144	110	levels.7	levels.7	VERB
fsr-3259	144	111	we	we	PRON
fsr-3259	144	112	control	control	VERB
fsr-3259	144	113	for	for	ADP
fsr-3259	144	114	funds	fund	NOUN
fsr-3259	144	115	’	'	PUNCT
fsr-3259	144	116	investment	investment	NOUN
fsr-3259	144	117	objectives	objective	NOUN
fsr-3259	144	118	,	,	PUNCT
fsr-3259	144	119	using	use	VERB
fsr-3259	144	120	two	two	NUM
fsr-3259	144	121	dummy	dummy	ADJ
fsr-3259	144	122	variables	variable	NOUN
fsr-3259	144	123	with	with	ADP
fsr-3259	144	124	a	a	DET
fsr-3259	144	125	base	base	ADJ
fsr-3259	144	126	category	category	NOUN
fsr-3259	144	127	of	of	ADP
fsr-3259	144	128	a	a	DET
fsr-3259	144	129	combination	combination	NOUN
fsr-3259	144	130	of	of	ADP
fsr-3259	144	131	gi	gi	NOUN
fsr-3259	144	132	and	and	CCONJ
fsr-3259	144	133	lg	lg	NOUN
fsr-3259	144	134	.	.	PROPN
fsr-3259	145	1	in	in	ADP
fsr-3259	145	2	addition	addition	NOUN
fsr-3259	145	3	,	,	PUNCT
fsr-3259	145	4	at	at	ADP
fsr-3259	145	5	a	a	DET
fsr-3259	145	6	family	family	NOUN
fsr-3259	145	7	level	level	NOUN
fsr-3259	145	8	,	,	PUNCT
fsr-3259	145	9	we	we	PRON
fsr-3259	145	10	include	include	VERB
fsr-3259	145	11	(	(	PUNCT
fsr-3259	145	12	1	1	X
fsr-3259	145	13	)	)	PUNCT
fsr-3259	145	14	the	the	DET
fsr-3259	145	15	natural	natural	ADJ
fsr-3259	145	16	logarithm	logarithm	NOUN
fsr-3259	145	17	of	of	ADP
fsr-3259	145	18	the	the	DET
fsr-3259	145	19	total	total	ADJ
fsr-3259	145	20	number	number	NOUN
fsr-3259	145	21	of	of	ADP
fsr-3259	145	22	funds	fund	NOUN
fsr-3259	145	23	having	have	VERB
fsr-3259	145	24	distinct	distinct	ADJ
fsr-3259	145	25	portfolios	portfolio	NOUN
fsr-3259	145	26	that	that	PRON
fsr-3259	145	27	are	be	AUX
fsr-3259	145	28	offered	offer	VERB
fsr-3259	145	29	in	in	ADP
fsr-3259	145	30	ag	ag	PROPN
fsr-3259	145	31	,	,	PUNCT
fsr-3259	145	32	gi	gi	NOUN
fsr-3259	145	33	,	,	PUNCT
fsr-3259	145	34	and	and	CCONJ
fsr-3259	145	35	lg	lg	NOUN
fsr-3259	145	36	investment	investment	NOUN
fsr-3259	145	37	objectives	objective	NOUN
fsr-3259	145	38	by	by	ADP
fsr-3259	145	39	a	a	DET
fsr-3259	145	40	family	family	NOUN
fsr-3259	145	41	over	over	ADP
fsr-3259	145	42	the	the	DET
fsr-3259	145	43	period	period	NOUN
fsr-3259	145	44	and	and	CCONJ
fsr-3259	145	45	(	(	PUNCT
fsr-3259	145	46	2	2	X
fsr-3259	145	47	)	)	PUNCT
fsr-3259	145	48	family	family	NOUN
fsr-3259	145	49	size	size	NOUN
fsr-3259	145	50	defined	define	VERB
fsr-3259	145	51	by	by	ADP
fsr-3259	145	52	the	the	DET
fsr-3259	145	53	natural	natural	ADJ
fsr-3259	145	54	logarithm	logarithm	NOUN
fsr-3259	145	55	of	of	ADP
fsr-3259	145	56	one	one	NUM
fsr-3259	145	57	plus	plus	CCONJ
fsr-3259	145	58	the	the	DET
fsr-3259	145	59	average	average	ADJ
fsr-3259	145	60	total	total	ADJ
fsr-3259	145	61	net	net	ADJ
fsr-3259	145	62	assets	asset	NOUN
fsr-3259	145	63	(	(	PUNCT
fsr-3259	145	64	in	in	ADP
fsr-3259	145	65	billions	billion	NOUN
fsr-3259	145	66	)	)	PUNCT
fsr-3259	145	67	managed	manage	VERB
fsr-3259	145	68	by	by	ADP
fsr-3259	145	69	a	a	DET
fsr-3259	145	70	family	family	NOUN
fsr-3259	145	71	over	over	ADP
fsr-3259	145	72	the	the	DET
fsr-3259	145	73	period	period	NOUN
fsr-3259	145	74	.	.	PUNCT
fsr-3259	146	1	last	last	ADJ
fsr-3259	146	2	,	,	PUNCT
fsr-3259	146	3	we	we	PRON
fsr-3259	146	4	include	include	VERB
fsr-3259	146	5	family	family	NOUN
fsr-3259	146	6	fixed	fix	VERB
fsr-3259	146	7	effects	effect	NOUN
fsr-3259	146	8	,	,	PUNCT
fsr-3259	146	9	which	which	PRON
fsr-3259	146	10	control	control	VERB
fsr-3259	146	11	for	for	ADP
fsr-3259	146	12	unobserved	unobserved	ADJ
fsr-3259	146	13	time	time	NOUN
fsr-3259	146	14	-	-	PUNCT
fsr-3259	146	15	invariant	invariant	ADJ
fsr-3259	146	16	family	family	NOUN
fsr-3259	146	17	characteristics	characteristic	NOUN
fsr-3259	146	18	.	.	PUNCT
fsr-3259	147	1	5	5	X
fsr-3259	147	2	.	.	X
fsr-3259	147	3	results	result	VERB
fsr-3259	147	4	5.1	5.1	NUM
fsr-3259	147	5	.	.	PUNCT
fsr-3259	148	1	summary	summary	NOUN
fsr-3259	148	2	statistics	statistic	NOUN
fsr-3259	148	3	table	table	NOUN
fsr-3259	148	4	2	2	NUM
fsr-3259	148	5	presents	present	NOUN
fsr-3259	148	6	summary	summary	NOUN
fsr-3259	148	7	statistics	statistic	NOUN
fsr-3259	148	8	of	of	ADP
fsr-3259	148	9	the	the	DET
fsr-3259	148	10	sample	sample	NOUN
fsr-3259	148	11	for	for	ADP
fsr-3259	148	12	the	the	DET
fsr-3259	148	13	period	period	NOUN
fsr-3259	148	14	of	of	ADP
fsr-3259	148	15	2001	2001	NUM
fsr-3259	148	16	to	to	ADP
fsr-3259	148	17	2006	2006	NUM
fsr-3259	148	18	.	.	PUNCT
fsr-3259	149	1	the	the	DET
fsr-3259	149	2	average	average	ADJ
fsr-3259	149	3	expense	expense	NOUN
fsr-3259	149	4	ratio	ratio	NOUN
fsr-3259	149	5	is	be	AUX
fsr-3259	149	6	1.17	1.17	NUM
fsr-3259	149	7	%	%	NOUN
fsr-3259	149	8	;	;	PUNCT
fsr-3259	149	9	the	the	DET
fsr-3259	149	10	average	average	ADJ
fsr-3259	149	11	12b-1	12b-1	NUM
fsr-3259	149	12	fee	fee	NOUN
fsr-3259	149	13	is	be	AUX
fsr-3259	149	14	0.17	0.17	NUM
fsr-3259	149	15	%	%	NOUN
fsr-3259	149	16	;	;	PUNCT
fsr-3259	149	17	and	and	CCONJ
fsr-3259	149	18	the	the	DET
fsr-3259	149	19	average	average	ADJ
fsr-3259	149	20	operating	operating	NOUN
fsr-3259	149	21	expense	expense	NOUN
fsr-3259	149	22	ratio	ratio	NOUN
fsr-3259	149	23	is	be	AUX
fsr-3259	149	24	1.00	1.00	NUM
fsr-3259	149	25	%	%	NOUN
fsr-3259	149	26	.	.	PUNCT
fsr-3259	150	1	a	a	DET
fsr-3259	150	2	fund	fund	NOUN
fsr-3259	150	3	’s	’s	PART
fsr-3259	150	4	management	management	NOUN
fsr-3259	150	5	fee	fee	NOUN
fsr-3259	150	6	and	and	CCONJ
fsr-3259	150	7	other	other	ADJ
fsr-3259	150	8	expenses	expense	NOUN
fsr-3259	150	9	,	,	PUNCT
fsr-3259	150	10	on	on	ADP
fsr-3259	150	11	average	average	ADJ
fsr-3259	150	12	,	,	PUNCT
fsr-3259	150	13	account	account	VERB
fsr-3259	150	14	for	for	ADP
fsr-3259	150	15	71	71	NUM
fsr-3259	150	16	%	%	NOUN
fsr-3259	150	17	and	and	CCONJ
fsr-3259	150	18	29	29	NUM
fsr-3259	150	19	%	%	NOUN
fsr-3259	150	20	,	,	PUNCT
fsr-3259	150	21	respectively	respectively	ADV
fsr-3259	150	22	,	,	PUNCT
fsr-3259	150	23	of	of	ADP
fsr-3259	150	24	a	a	DET
fsr-3259	150	25	fund	fund	NOUN
fsr-3259	150	26	’s	’s	PART
fsr-3259	150	27	operating	operate	VERB
fsr-3259	150	28	expense	expense	NOUN
fsr-3259	150	29	ratio	ratio	NOUN
fsr-3259	150	30	.	.	PUNCT
fsr-3259	151	1	funds	fund	NOUN
fsr-3259	151	2	hold	hold	VERB
fsr-3259	151	3	,	,	PUNCT
fsr-3259	151	4	on	on	ADP
fsr-3259	151	5	average	average	ADJ
fsr-3259	151	6	,	,	PUNCT
fsr-3259	151	7	17	17	NUM
fsr-3259	151	8	%	%	NOUN
fsr-3259	151	9	of	of	ADP
fsr-3259	151	10	their	their	PRON
fsr-3259	151	11	portfolios	portfolio	NOUN
fsr-3259	151	12	with	with	ADP
fsr-3259	151	13	the	the	DET
fsr-3259	151	14	same	same	ADJ
fsr-3259	151	15	stocks	stock	NOUN
fsr-3259	151	16	across	across	ADP
fsr-3259	151	17	other	other	ADJ
fsr-3259	151	18	funds	fund	NOUN
fsr-3259	151	19	in	in	ADP
fsr-3259	151	20	different	different	ADJ
fsr-3259	151	21	investment	investment	NOUN
fsr-3259	151	22	objectives	objective	NOUN
fsr-3259	151	23	.	.	PUNCT
fsr-3259	152	1	about	about	ADV
fsr-3259	152	2	39	39	NUM
fsr-3259	152	3	%	%	NOUN
fsr-3259	152	4	of	of	ADP
fsr-3259	152	5	the	the	DET
fsr-3259	152	6	funds	fund	NOUN
fsr-3259	152	7	in	in	ADP
fsr-3259	152	8	the	the	DET
fsr-3259	152	9	sample	sample	NOUN
fsr-3259	152	10	are	be	AUX
fsr-3259	152	11	managed	manage	VERB
fsr-3259	152	12	by	by	ADP
fsr-3259	152	13	multi	multi	ADJ
fsr-3259	152	14	-	-	ADJ
fsr-3259	152	15	fund	fund	NOUN
fsr-3259	152	16	managers	manager	NOUN
fsr-3259	152	17	over	over	ADP
fsr-3259	152	18	the	the	DET
fsr-3259	152	19	period	period	NOUN
fsr-3259	152	20	.	.	PUNCT
fsr-3259	153	1	most	most	ADJ
fsr-3259	153	2	funds	fund	NOUN
fsr-3259	153	3	in	in	ADP
fsr-3259	153	4	the	the	DET
fsr-3259	153	5	sample	sample	NOUN
fsr-3259	153	6	have	have	VERB
fsr-3259	153	7	sales	sale	NOUN
fsr-3259	153	8	loads	load	NOUN
fsr-3259	153	9	.	.	PUNCT
fsr-3259	154	1	this	this	PRON
fsr-3259	154	2	is	be	AUX
fsr-3259	154	3	because	because	SCONJ
fsr-3259	154	4	we	we	PRON
fsr-3259	154	5	use	use	VERB
fsr-3259	154	6	funds	fund	NOUN
fsr-3259	154	7	that	that	PRON
fsr-3259	154	8	have	have	VERB
fsr-3259	154	9	distinct	distinct	ADJ
fsr-3259	154	10	portfolios	portfolio	NOUN
fsr-3259	154	11	defined	define	VERB
fsr-3259	154	12	by	by	ADP
fsr-3259	154	13	the	the	DET
fsr-3259	154	14	morningstar	morningstar	NOUN
fsr-3259	154	15	and	and	CCONJ
fsr-3259	154	16	they	they	PRON
fsr-3259	154	17	are	be	AUX
fsr-3259	154	18	likely	likely	ADJ
fsr-3259	154	19	to	to	PART
fsr-3259	154	20	be	be	AUX
fsr-3259	154	21	class	class	NOUN
fsr-3259	154	22	a	a	DET
fsr-3259	154	23	shares	share	NOUN
fsr-3259	154	24	that	that	PRON
fsr-3259	154	25	generally	generally	ADV
fsr-3259	154	26	have	have	VERB
fsr-3259	154	27	a	a	DET
fsr-3259	154	28	front	front	ADJ
fsr-3259	154	29	-	-	PUNCT
fsr-3259	154	30	end	end	NOUN
fsr-3259	154	31	load	load	NOUN
fsr-3259	154	32	.	.	PUNCT
fsr-3259	155	1	table	table	NOUN
fsr-3259	155	2	2	2	NUM
fsr-3259	155	3	also	also	ADV
fsr-3259	155	4	provides	provide	VERB
fsr-3259	155	5	summary	summary	NOUN
fsr-3259	155	6	statistics	statistic	NOUN
fsr-3259	155	7	by	by	ADP
fsr-3259	155	8	fund	fund	NOUN
fsr-3259	155	9	investment	investment	NOUN
fsr-3259	155	10	objectives	objective	NOUN
fsr-3259	155	11	:	:	PUNCT
fsr-3259	155	12	ag	ag	PROPN
fsr-3259	155	13	,	,	PUNCT
fsr-3259	155	14	gi	gi	NOUN
fsr-3259	155	15	,	,	PUNCT
fsr-3259	155	16	and	and	CCONJ
fsr-3259	155	17	lg	lg	PROPN
fsr-3259	155	18	.	.	PROPN
fsr-3259	155	19	funds	fund	NOUN
fsr-3259	155	20	seeking	seek	VERB
fsr-3259	155	21	ag	ag	PROPN
fsr-3259	155	22	,	,	PUNCT
fsr-3259	155	23	on	on	ADP
fsr-3259	155	24	average	average	ADJ
fsr-3259	155	25	,	,	PUNCT
fsr-3259	155	26	have	have	VERB
fsr-3259	155	27	a	a	DET
fsr-3259	155	28	higher	high	ADJ
fsr-3259	155	29	expense	expense	NOUN
fsr-3259	155	30	ratio	ratio	NOUN
fsr-3259	155	31	,	,	PUNCT
fsr-3259	155	32	a	a	DET
fsr-3259	155	33	higher	high	ADJ
fsr-3259	155	34	operating	operating	NOUN
fsr-3259	155	35	expense	expense	NOUN
fsr-3259	155	36	ratio	ratio	NOUN
fsr-3259	155	37	,	,	PUNCT
fsr-3259	155	38	and	and	CCONJ
fsr-3259	155	39	a	a	DET
fsr-3259	155	40	higher	high	ADJ
fsr-3259	155	41	management	management	NOUN
fsr-3259	155	42	fee	fee	NOUN
fsr-3259	155	43	than	than	ADP
fsr-3259	155	44	those	those	PRON
fsr-3259	155	45	seeking	seek	VERB
fsr-3259	155	46	gi	gi	INTJ
fsr-3259	155	47	or	or	CCONJ
fsr-3259	155	48	lg	lg	PROPN
fsr-3259	155	49	.	.	PROPN
fsr-3259	156	1	however	however	ADV
fsr-3259	156	2	,	,	PUNCT
fsr-3259	156	3	12b-1	12b-1	NUM
fsr-3259	156	4	fees	fee	NOUN
fsr-3259	156	5	and	and	CCONJ
fsr-3259	156	6	other	other	ADJ
fsr-3259	156	7	expenses	expense	NOUN
fsr-3259	156	8	are	be	AUX
fsr-3259	156	9	similar	similar	ADJ
fsr-3259	156	10	across	across	ADP
fsr-3259	156	11	the	the	DET
fsr-3259	156	12	fund	fund	NOUN
fsr-3259	156	13	investment	investment	NOUN
fsr-3259	156	14	objectives	objective	NOUN
fsr-3259	156	15	.	.	PUNCT
fsr-3259	157	1	in	in	ADP
fsr-3259	157	2	addition	addition	NOUN
fsr-3259	157	3	,	,	PUNCT
fsr-3259	157	4	funds	fund	NOUN
fsr-3259	157	5	seeking	seek	VERB
fsr-3259	157	6	ag	ag	PROPN
fsr-3259	157	7	have	have	VERB
fsr-3259	157	8	significantly	significantly	ADV
fsr-3259	157	9	less	less	ADV
fsr-3259	157	10	common	common	ADJ
fsr-3259	157	11	stock	stock	NOUN
fsr-3259	157	12	holding	holding	NOUN
fsr-3259	157	13	than	than	ADP
fsr-3259	157	14	those	those	PRON
fsr-3259	157	15	seeking	seek	VERB
fsr-3259	157	16	gi	gi	INTJ
fsr-3259	157	17	or	or	CCONJ
fsr-3259	157	18	lg	lg	NOUN
fsr-3259	157	19	,	,	PUNCT
fsr-3259	157	20	but	but	CCONJ
fsr-3259	157	21	ag	ag	PROPN
fsr-3259	157	22	funds	fund	NOUN
fsr-3259	157	23	are	be	AUX
fsr-3259	157	24	more	more	ADV
fsr-3259	157	25	likely	likely	ADJ
fsr-3259	157	26	to	to	PART
fsr-3259	157	27	be	be	AUX
fsr-3259	157	28	managed	manage	VERB
fsr-3259	157	29	by	by	ADP
fsr-3259	157	30	multi	multi	ADJ
fsr-3259	157	31	-	-	ADJ
fsr-3259	157	32	fund	fund	NOUN
fsr-3259	157	33	managers	manager	NOUN
fsr-3259	157	34	than	than	SCONJ
fsr-3259	157	35	are	be	AUX
fsr-3259	157	36	lg	lg	NOUN
fsr-3259	157	37	funds.8	funds.8	PROPN
fsr-3259	157	38	last	last	ADJ
fsr-3259	157	39	,	,	PUNCT
fsr-3259	157	40	the	the	DET
fsr-3259	157	41	average	average	ADJ
fsr-3259	157	42	total	total	ADJ
fsr-3259	157	43	net	net	ADJ
fsr-3259	157	44	asset	asset	NOUN
fsr-3259	157	45	of	of	ADP
fsr-3259	157	46	ag	ag	PROPN
fsr-3259	157	47	funds	fund	NOUN
fsr-3259	157	48	is	be	AUX
fsr-3259	157	49	less	less	ADJ
fsr-3259	157	50	than	than	ADP
fsr-3259	157	51	that	that	PRON
fsr-3259	157	52	of	of	ADP
fsr-3259	157	53	gi	gi	INTJ
fsr-3259	157	54	or	or	CCONJ
fsr-3259	157	55	lg	lg	NOUN
fsr-3259	157	56	funds	fund	NOUN
fsr-3259	157	57	.	.	PUNCT
fsr-3259	158	1	37y	37y	NUM
fsr-3259	158	2	.	.	PUNCT
fsr-3259	159	1	park	park	NOUN
fsr-3259	159	2	/	/	SYM
fsr-3259	159	3	financial	financial	ADJ
fsr-3259	159	4	services	service	NOUN
fsr-3259	159	5	review	review	VERB
fsr-3259	159	6	25	25	NUM
fsr-3259	159	7	(	(	PUNCT
fsr-3259	159	8	2016	2016	NUM
fsr-3259	159	9	)	)	PUNCT
fsr-3259	159	10	29–49	29–49	NUM
fsr-3259	159	11	table	table	NOUN
fsr-3259	159	12	2	2	NUM
fsr-3259	159	13	sample	sample	NOUN
fsr-3259	159	14	summary	summary	NOUN
fsr-3259	159	15	statistics	statistic	NOUN
fsr-3259	159	16	observation	observation	NOUN
fsr-3259	159	17	mean	mean	VERB
fsr-3259	159	18	standard	standard	ADJ
fsr-3259	159	19	deviation	deviation	NOUN
fsr-3259	159	20	min	min	PROPN
fsr-3259	159	21	max	max	PROPN
fsr-3259	159	22	full	full	PROPN
fsr-3259	159	23	sample	sample	NOUN
fsr-3259	159	24	(	(	PUNCT
fsr-3259	159	25	154	154	NUM
fsr-3259	159	26	funds	fund	NOUN
fsr-3259	159	27	)	)	PUNCT
fsr-3259	159	28	expense	expense	NOUN
fsr-3259	159	29	ratio	ratio	NOUN
fsr-3259	159	30	(	(	PUNCT
fsr-3259	159	31	%	%	INTJ
fsr-3259	159	32	)	)	PUNCT
fsr-3259	159	33	903	903	NUM
fsr-3259	159	34	1.17	1.17	NUM
fsr-3259	159	35	0.34	0.34	NUM
fsr-3259	159	36	0.40	0.40	NUM
fsr-3259	159	37	2.31	2.31	NUM
fsr-3259	159	38	12b-1	12b-1	NUM
fsr-3259	159	39	fee	fee	NOUN
fsr-3259	159	40	(	(	PUNCT
fsr-3259	159	41	%	%	NOUN
fsr-3259	159	42	)	)	PUNCT
fsr-3259	159	43	913	913	NUM
fsr-3259	159	44	0.17	0.17	NUM
fsr-3259	159	45	0.22	0.22	NUM
fsr-3259	159	46	0.00	0.00	NUM
fsr-3259	159	47	1.00	1.00	NUM
fsr-3259	159	48	operating	operating	NOUN
fsr-3259	159	49	expense	expense	NOUN
fsr-3259	159	50	(	(	PUNCT
fsr-3259	159	51	%	%	NOUN
fsr-3259	159	52	)	)	PUNCT
fsr-3259	159	53	901	901	NUM
fsr-3259	159	54	1.00	1.00	NUM
fsr-3259	159	55	0.29	0.29	NUM
fsr-3259	159	56	0.15	0.15	NUM
fsr-3259	159	57	1.90	1.90	NUM
fsr-3259	159	58	management	management	NOUN
fsr-3259	159	59	fee	fee	NOUN
fsr-3259	159	60	(	(	PUNCT
fsr-3259	159	61	%	%	NOUN
fsr-3259	159	62	)	)	PUNCT
fsr-3259	159	63	913	913	NUM
fsr-3259	159	64	0.71	0.71	NUM
fsr-3259	159	65	0.22	0.22	NUM
fsr-3259	159	66	0.24	0.24	NUM
fsr-3259	159	67	1.50	1.50	NUM
fsr-3259	159	68	other	other	ADJ
fsr-3259	159	69	expenses	expense	NOUN
fsr-3259	159	70	(	(	PUNCT
fsr-3259	159	71	%	%	INTJ
fsr-3259	159	72	)	)	PUNCT
fsr-3259	159	73	901	901	NUM
fsr-3259	159	74	0.29	0.29	NUM
fsr-3259	159	75	0.21	0.21	NUM
fsr-3259	159	76	0.00	0.00	NUM
fsr-3259	159	77	1.13	1.13	NUM
fsr-3259	159	78	fraction	fraction	NOUN
fsr-3259	159	79	of	of	ADP
fsr-3259	159	80	common	common	ADJ
fsr-3259	159	81	stock	stock	NOUN
fsr-3259	159	82	holding	holding	NOUN
fsr-3259	159	83	in	in	ADP
fsr-3259	159	84	a	a	DET
fsr-3259	159	85	fund	fund	NOUN
fsr-3259	159	86	portfolio	portfolio	NOUN
fsr-3259	159	87	915	915	NUM
fsr-3259	159	88	0.17	0.17	NUM
fsr-3259	159	89	0.16	0.16	NUM
fsr-3259	159	90	0.00	0.00	NUM
fsr-3259	159	91	0.96	0.96	NUM
fsr-3259	159	92	multi	multi	ADJ
fsr-3259	159	93	-	-	ADJ
fsr-3259	159	94	fund	fund	ADJ
fsr-3259	159	95	management	management	NOUN
fsr-3259	159	96	(	(	PUNCT
fsr-3259	159	97	yes	yes	INTJ
fsr-3259	159	98	�	�	PROPN
fsr-3259	159	99	1	1	NUM
fsr-3259	159	100	)	)	PUNCT
fsr-3259	159	101	915	915	NUM
fsr-3259	159	102	0.39	0.39	NUM
fsr-3259	159	103	0.49	0.49	NUM
fsr-3259	159	104	0.00	0.00	NUM
fsr-3259	159	105	1.00	1.00	NUM
fsr-3259	159	106	turnover	turnover	NOUN
fsr-3259	159	107	ratio	ratio	NOUN
fsr-3259	159	108	897	897	NUM
fsr-3259	159	109	0.77	0.77	NUM
fsr-3259	159	110	0.73	0.73	NUM
fsr-3259	159	111	0.03	0.03	NUM
fsr-3259	159	112	7.76	7.76	NUM
fsr-3259	159	113	load	load	NOUN
fsr-3259	159	114	fund	fund	NOUN
fsr-3259	159	115	(	(	PUNCT
fsr-3259	159	116	yes	yes	INTJ
fsr-3259	159	117	�	�	PROPN
fsr-3259	159	118	1	1	NUM
fsr-3259	159	119	)	)	PUNCT
fsr-3259	159	120	915	915	NUM
fsr-3259	159	121	0.98	0.98	NUM
fsr-3259	159	122	0.13	0.13	NUM
fsr-3259	159	123	0.00	0.00	NUM
fsr-3259	159	124	1.00	1.00	NUM
fsr-3259	159	125	fund	fund	NOUN
fsr-3259	159	126	size	size	NOUN
fsr-3259	159	127	(	(	PUNCT
fsr-3259	159	128	$	$	SYM
fsr-3259	159	129	billion	billion	NUM
fsr-3259	159	130	)	)	PUNCT
fsr-3259	159	131	915	915	NUM
fsr-3259	159	132	3.88	3.88	NUM
fsr-3259	159	133	10.61	10.61	NUM
fsr-3259	159	134	0.001	0.001	NUM
fsr-3259	159	135	120.84	120.84	NUM
fsr-3259	159	136	family	family	NOUN
fsr-3259	159	137	size	size	NOUN
fsr-3259	159	138	(	(	PUNCT
fsr-3259	159	139	$	$	SYM
fsr-3259	159	140	billion	billion	NUM
fsr-3259	159	141	)	)	PUNCT
fsr-3259	159	142	276	276	NUM
fsr-3259	159	143	52.11	52.11	NUM
fsr-3259	159	144	158.43	158.43	NUM
fsr-3259	159	145	0.17	0.17	NUM
fsr-3259	159	146	1,149.30	1,149.30	NUM
fsr-3259	159	147	aggressive	aggressive	ADJ
fsr-3259	159	148	growth	growth	NOUN
fsr-3259	159	149	(	(	PUNCT
fsr-3259	159	150	43	43	NUM
fsr-3259	159	151	funds	fund	NOUN
fsr-3259	159	152	)	)	PUNCT
fsr-3259	159	153	monthly	monthly	ADJ
fsr-3259	159	154	gross	gross	ADJ
fsr-3259	159	155	return	return	NOUN
fsr-3259	159	156	(	(	PUNCT
fsr-3259	159	157	%	%	INTJ
fsr-3259	159	158	)	)	PUNCT
fsr-3259	159	159	3,096	3,096	NUM
fsr-3259	159	160	0.88	0.88	NUM
fsr-3259	159	161	5.50	5.50	NUM
fsr-3259	159	162	�	�	PROPN
fsr-3259	159	163	34.28	34.28	NUM
fsr-3259	159	164	25.95	25.95	NUM
fsr-3259	159	165	expense	expense	NOUN
fsr-3259	159	166	ratio	ratio	NOUN
fsr-3259	159	167	(	(	PUNCT
fsr-3259	159	168	%	%	NOUN
fsr-3259	159	169	)	)	PUNCT
fsr-3259	159	170	254	254	NUM
fsr-3259	159	171	1.33	1.33	NUM
fsr-3259	159	172	0.31	0.31	NUM
fsr-3259	159	173	0.79	0.79	NUM
fsr-3259	159	174	2.31	2.31	NUM
fsr-3259	159	175	12b-1	12b-1	NUM
fsr-3259	159	176	fee	fee	NOUN
fsr-3259	159	177	(	(	PUNCT
fsr-3259	159	178	%	%	NOUN
fsr-3259	159	179	)	)	PUNCT
fsr-3259	159	180	255	255	NUM
fsr-3259	159	181	0.19	0.19	NUM
fsr-3259	159	182	0.27	0.27	NUM
fsr-3259	159	183	0.00	0.00	NUM
fsr-3259	159	184	1.00	1.00	NUM
fsr-3259	159	185	operating	operating	NOUN
fsr-3259	159	186	expense	expense	NOUN
fsr-3259	159	187	(	(	PUNCT
fsr-3259	159	188	%	%	NOUN
fsr-3259	159	189	)	)	PUNCT
fsr-3259	159	190	253	253	NUM
fsr-3259	159	191	1.13	1.13	NUM
fsr-3259	159	192	0.22	0.22	NUM
fsr-3259	159	193	0.36	0.36	NUM
fsr-3259	159	194	1.80	1.80	NUM
fsr-3259	159	195	management	management	NOUN
fsr-3259	159	196	fee	fee	NOUN
fsr-3259	159	197	(	(	PUNCT
fsr-3259	159	198	%	%	NOUN
fsr-3259	159	199	)	)	PUNCT
fsr-3259	159	200	255	255	NUM
fsr-3259	159	201	0.85	0.85	NUM
fsr-3259	159	202	0.18	0.18	NUM
fsr-3259	159	203	0.46	0.46	NUM
fsr-3259	159	204	1.50	1.50	NUM
fsr-3259	159	205	other	other	ADJ
fsr-3259	159	206	expenses	expense	NOUN
fsr-3259	159	207	(	(	PUNCT
fsr-3259	159	208	%	%	INTJ
fsr-3259	159	209	)	)	PUNCT
fsr-3259	159	210	253	253	NUM
fsr-3259	159	211	0.29	0.29	NUM
fsr-3259	159	212	0.22	0.22	NUM
fsr-3259	159	213	0.00	0.00	NUM
fsr-3259	159	214	1.03	1.03	NUM
fsr-3259	159	215	fraction	fraction	NOUN
fsr-3259	159	216	of	of	ADP
fsr-3259	159	217	common	common	ADJ
fsr-3259	159	218	stock	stock	NOUN
fsr-3259	159	219	holding	holding	NOUN
fsr-3259	159	220	in	in	ADP
fsr-3259	159	221	a	a	DET
fsr-3259	159	222	fund	fund	NOUN
fsr-3259	159	223	portfolio	portfolio	NOUN
fsr-3259	159	224	256	256	NUM
fsr-3259	159	225	0.13	0.13	NUM
fsr-3259	159	226	0.16	0.16	NUM
fsr-3259	159	227	0.00	0.00	NUM
fsr-3259	159	228	0.96	0.96	NUM
fsr-3259	159	229	multi	multi	ADJ
fsr-3259	159	230	-	-	ADJ
fsr-3259	159	231	fund	fund	ADJ
fsr-3259	159	232	management	management	NOUN
fsr-3259	159	233	(	(	PUNCT
fsr-3259	159	234	yes	yes	INTJ
fsr-3259	159	235	�	�	PROPN
fsr-3259	159	236	1	1	NUM
fsr-3259	159	237	)	)	PUNCT
fsr-3259	159	238	256	256	NUM
fsr-3259	159	239	0.45	0.45	NUM
fsr-3259	159	240	0.50	0.50	NUM
fsr-3259	159	241	0.00	0.00	NUM
fsr-3259	159	242	1.00	1.00	NUM
fsr-3259	159	243	turnover	turnover	NOUN
fsr-3259	159	244	ratio	ratio	NOUN
fsr-3259	159	245	253	253	NUM
fsr-3259	159	246	0.76	0.76	NUM
fsr-3259	159	247	0.63	0.63	NUM
fsr-3259	159	248	0.04	0.04	NUM
fsr-3259	159	249	3.58	3.58	NUM
fsr-3259	159	250	load	load	NOUN
fsr-3259	159	251	fund	fund	NOUN
fsr-3259	159	252	(	(	PUNCT
fsr-3259	159	253	yes	yes	INTJ
fsr-3259	159	254	�	�	PROPN
fsr-3259	159	255	1	1	NUM
fsr-3259	159	256	)	)	PUNCT
fsr-3259	159	257	256	256	NUM
fsr-3259	159	258	0.98	0.98	NUM
fsr-3259	159	259	0.15	0.15	NUM
fsr-3259	159	260	0.00	0.00	NUM
fsr-3259	159	261	1.00	1.00	NUM
fsr-3259	159	262	fund	fund	NOUN
fsr-3259	159	263	size	size	NOUN
fsr-3259	159	264	(	(	PUNCT
fsr-3259	159	265	$	$	SYM
fsr-3259	159	266	billion	billion	NUM
fsr-3259	159	267	)	)	PUNCT
fsr-3259	159	268	256	256	NUM
fsr-3259	159	269	0.89	0.89	NUM
fsr-3259	159	270	1.25	1.25	NUM
fsr-3259	159	271	0.004	0.004	NUM
fsr-3259	159	272	9.51	9.51	NUM
fsr-3259	159	273	growth	growth	NOUN
fsr-3259	159	274	and	and	CCONJ
fsr-3259	159	275	income	income	NOUN
fsr-3259	159	276	(	(	PUNCT
fsr-3259	159	277	43	43	NUM
fsr-3259	159	278	funds	fund	NOUN
fsr-3259	159	279	)	)	PUNCT
fsr-3259	159	280	monthly	monthly	ADJ
fsr-3259	159	281	gross	gross	ADJ
fsr-3259	159	282	return	return	NOUN
fsr-3259	159	283	(	(	PUNCT
fsr-3259	159	284	%	%	INTJ
fsr-3259	159	285	)	)	PUNCT
fsr-3259	159	286	3,079	3,079	NUM
fsr-3259	159	287	0.61	0.61	NUM
fsr-3259	159	288	3.68	3.68	NUM
fsr-3259	159	289	�	�	PROPN
fsr-3259	159	290	14.39	14.39	NUM
fsr-3259	159	291	18.46	18.46	NUM
fsr-3259	159	292	expense	expense	NOUN
fsr-3259	159	293	ratio	ratio	NOUN
fsr-3259	159	294	(	(	PUNCT
fsr-3259	159	295	%	%	NOUN
fsr-3259	159	296	)	)	PUNCT
fsr-3259	160	1	246	246	NUM
fsr-3259	160	2	1.04	1.04	NUM
fsr-3259	160	3	0.33	0.33	NUM
fsr-3259	160	4	0.55	0.55	NUM
fsr-3259	160	5	2.27	2.27	NUM
fsr-3259	160	6	12b-1	12b-1	NUM
fsr-3259	160	7	fee	fee	NOUN
fsr-3259	160	8	(	(	PUNCT
fsr-3259	160	9	%	%	NOUN
fsr-3259	160	10	)	)	PUNCT
fsr-3259	160	11	252	252	NUM
fsr-3259	160	12	0.16	0.16	NUM
fsr-3259	160	13	0.19	0.19	NUM
fsr-3259	160	14	0.00	0.00	NUM
fsr-3259	160	15	1.00	1.00	NUM
fsr-3259	160	16	operating	operating	NOUN
fsr-3259	160	17	expense	expense	NOUN
fsr-3259	160	18	(	(	PUNCT
fsr-3259	160	19	%	%	NOUN
fsr-3259	160	20	)	)	PUNCT
fsr-3259	160	21	245	245	NUM
fsr-3259	160	22	0.88	0.88	NUM
fsr-3259	160	23	0.30	0.30	NUM
fsr-3259	160	24	0.32	0.32	NUM
fsr-3259	160	25	1.90	1.90	NUM
fsr-3259	160	26	management	management	NOUN
fsr-3259	160	27	fee	fee	NOUN
fsr-3259	160	28	(	(	PUNCT
fsr-3259	160	29	%	%	NOUN
fsr-3259	160	30	)	)	PUNCT
fsr-3259	160	31	252	252	NUM
fsr-3259	160	32	0.61	0.61	NUM
fsr-3259	160	33	0.21	0.21	NUM
fsr-3259	160	34	0.24	0.24	NUM
fsr-3259	160	35	1.00	1.00	NUM
fsr-3259	160	36	other	other	ADJ
fsr-3259	160	37	expenses	expense	NOUN
fsr-3259	160	38	(	(	PUNCT
fsr-3259	160	39	%	%	INTJ
fsr-3259	160	40	)	)	PUNCT
fsr-3259	160	41	245	245	NUM
fsr-3259	160	42	0.28	0.28	NUM
fsr-3259	160	43	0.19	0.19	NUM
fsr-3259	160	44	0.00	0.00	NUM
fsr-3259	160	45	1.13	1.13	NUM
fsr-3259	160	46	fraction	fraction	NOUN
fsr-3259	160	47	of	of	ADP
fsr-3259	160	48	common	common	ADJ
fsr-3259	160	49	stock	stock	NOUN
fsr-3259	160	50	holding	holding	NOUN
fsr-3259	160	51	in	in	ADP
fsr-3259	160	52	a	a	DET
fsr-3259	160	53	fund	fund	NOUN
fsr-3259	160	54	portfolio	portfolio	NOUN
fsr-3259	160	55	253	253	NUM
fsr-3259	160	56	0.17	0.17	NUM
fsr-3259	160	57	0.15	0.15	NUM
fsr-3259	160	58	0.00	0.00	NUM
fsr-3259	160	59	0.81	0.81	NUM
fsr-3259	160	60	multi	multi	ADJ
fsr-3259	160	61	-	-	ADJ
fsr-3259	160	62	fund	fund	ADJ
fsr-3259	160	63	management	management	NOUN
fsr-3259	160	64	(	(	PUNCT
fsr-3259	160	65	yes	yes	INTJ
fsr-3259	160	66	�	�	PROPN
fsr-3259	160	67	1	1	NUM
fsr-3259	160	68	)	)	PUNCT
fsr-3259	160	69	253	253	NUM
fsr-3259	160	70	0.38	0.38	NUM
fsr-3259	160	71	0.49	0.49	NUM
fsr-3259	160	72	0.00	0.00	NUM
fsr-3259	160	73	1.00	1.00	NUM
fsr-3259	160	74	turnover	turnover	NOUN
fsr-3259	160	75	ratio	ratio	NOUN
fsr-3259	160	76	243	243	NUM
fsr-3259	160	77	0.54	0.54	NUM
fsr-3259	160	78	0.39	0.39	NUM
fsr-3259	160	79	0.03	0.03	NUM
fsr-3259	160	80	2.17	2.17	NUM
fsr-3259	160	81	load	load	NOUN
fsr-3259	160	82	fund	fund	NOUN
fsr-3259	160	83	(	(	PUNCT
fsr-3259	160	84	yes	yes	INTJ
fsr-3259	160	85	�	�	PROPN
fsr-3259	160	86	1	1	NUM
fsr-3259	160	87	)	)	PUNCT
fsr-3259	160	88	253	253	NUM
fsr-3259	160	89	1.00	1.00	NUM
fsr-3259	160	90	0.06	0.06	NUM
fsr-3259	160	91	0.00	0.00	NUM
fsr-3259	160	92	1.00	1.00	NUM
fsr-3259	160	93	fund	fund	NOUN
fsr-3259	160	94	size	size	NOUN
fsr-3259	160	95	(	(	PUNCT
fsr-3259	160	96	$	$	SYM
fsr-3259	160	97	billion	billion	NUM
fsr-3259	160	98	)	)	PUNCT
fsr-3259	160	99	253	253	NUM
fsr-3259	160	100	5.84	5.84	NUM
fsr-3259	160	101	12.71	12.71	NUM
fsr-3259	160	102	0.014	0.014	NUM
fsr-3259	160	103	79.33	79.33	NUM
fsr-3259	160	104	long	long	ADJ
fsr-3259	160	105	-	-	PUNCT
fsr-3259	160	106	term	term	NOUN
fsr-3259	160	107	growth	growth	NOUN
fsr-3259	160	108	(	(	PUNCT
fsr-3259	160	109	68	68	NUM
fsr-3259	160	110	funds	fund	NOUN
fsr-3259	160	111	)	)	PUNCT
fsr-3259	160	112	monthly	monthly	ADJ
fsr-3259	160	113	gross	gross	ADJ
fsr-3259	160	114	return	return	NOUN
fsr-3259	160	115	(	(	PUNCT
fsr-3259	160	116	%	%	INTJ
fsr-3259	160	117	)	)	PUNCT
fsr-3259	160	118	4,877	4,877	NUM
fsr-3259	160	119	0.46	0.46	NUM
fsr-3259	160	120	4.99	4.99	NUM
fsr-3259	160	121	�	�	NOUN
fsr-3259	160	122	24.85	24.85	NUM
fsr-3259	160	123	29.00	29.00	NUM
fsr-3259	160	124	expense	expense	NOUN
fsr-3259	160	125	ratio	ratio	NOUN
fsr-3259	160	126	(	(	PUNCT
fsr-3259	160	127	%	%	INTJ
fsr-3259	160	128	)	)	PUNCT
fsr-3259	160	129	403	403	NUM
fsr-3259	160	130	1.15	1.15	NUM
fsr-3259	160	131	0.33	0.33	NUM
fsr-3259	160	132	0.40	0.40	NUM
fsr-3259	160	133	2.09	2.09	NUM
fsr-3259	160	134	12b-1	12b-1	NUM
fsr-3259	160	135	fee	fee	NOUN
fsr-3259	160	136	(	(	PUNCT
fsr-3259	160	137	%	%	NOUN
fsr-3259	160	138	)	)	PUNCT
fsr-3259	160	139	406	406	NUM
fsr-3259	160	140	0.16	0.16	NUM
fsr-3259	160	141	0.20	0.20	NUM
fsr-3259	160	142	0.00	0.00	NUM
fsr-3259	160	143	1.00	1.00	NUM
fsr-3259	160	144	operating	operating	NOUN
fsr-3259	160	145	expense	expense	NOUN
fsr-3259	160	146	(	(	PUNCT
fsr-3259	160	147	%	%	INTJ
fsr-3259	160	148	)	)	PUNCT
fsr-3259	160	149	403	403	NUM
fsr-3259	160	150	0.99	0.99	NUM
fsr-3259	160	151	0.28	0.28	NUM
fsr-3259	160	152	0.15	0.15	NUM
fsr-3259	160	153	1.79	1.79	NUM
fsr-3259	160	154	management	management	NOUN
fsr-3259	160	155	fee	fee	NOUN
fsr-3259	160	156	(	(	PUNCT
fsr-3259	160	157	%	%	NOUN
fsr-3259	160	158	)	)	PUNCT
fsr-3259	160	159	406	406	NUM
fsr-3259	160	160	0.69	0.69	NUM
fsr-3259	160	161	0.20	0.20	NUM
fsr-3259	160	162	0.31	0.31	NUM
fsr-3259	160	163	1.00	1.00	NUM
fsr-3259	160	164	other	other	ADJ
fsr-3259	160	165	expenses	expense	NOUN
fsr-3259	160	166	(	(	PUNCT
fsr-3259	160	167	%	%	INTJ
fsr-3259	160	168	)	)	PUNCT
fsr-3259	160	169	403	403	NUM
fsr-3259	160	170	0.30	0.30	NUM
fsr-3259	160	171	0.21	0.21	NUM
fsr-3259	160	172	0.00	0.00	NUM
fsr-3259	160	173	1.13	1.13	NUM
fsr-3259	160	174	fraction	fraction	NOUN
fsr-3259	160	175	of	of	ADP
fsr-3259	160	176	common	common	ADJ
fsr-3259	160	177	stock	stock	NOUN
fsr-3259	160	178	holding	holding	NOUN
fsr-3259	160	179	in	in	ADP
fsr-3259	160	180	a	a	DET
fsr-3259	160	181	fund	fund	NOUN
fsr-3259	160	182	portfolio	portfolio	NOUN
fsr-3259	160	183	406	406	NUM
fsr-3259	160	184	0.20	0.20	NUM
fsr-3259	160	185	0.15	0.15	NUM
fsr-3259	160	186	0.00	0.00	NUM
fsr-3259	160	187	0.81	0.81	NUM
fsr-3259	160	188	multi	multi	ADJ
fsr-3259	160	189	-	-	ADJ
fsr-3259	160	190	fund	fund	ADJ
fsr-3259	160	191	management	management	NOUN
fsr-3259	160	192	(	(	PUNCT
fsr-3259	160	193	yes	yes	INTJ
fsr-3259	160	194	�	�	PROPN
fsr-3259	160	195	1	1	NUM
fsr-3259	160	196	)	)	PUNCT
fsr-3259	160	197	406	406	NUM
fsr-3259	160	198	0.35	0.35	NUM
fsr-3259	160	199	0.48	0.48	NUM
fsr-3259	160	200	0.00	0.00	NUM
fsr-3259	160	201	1.00	1.00	NUM
fsr-3259	160	202	turnover	turnover	NOUN
fsr-3259	160	203	ratio	ratio	NOUN
fsr-3259	160	204	401	401	NUM
fsr-3259	160	205	0.92	0.92	NUM
fsr-3259	160	206	0.89	0.89	NUM
fsr-3259	160	207	0.03	0.03	NUM
fsr-3259	160	208	7.76	7.76	NUM
fsr-3259	160	209	load	load	NOUN
fsr-3259	160	210	fund	fund	NOUN
fsr-3259	160	211	(	(	PUNCT
fsr-3259	160	212	yes	yes	INTJ
fsr-3259	160	213	�	�	PROPN
fsr-3259	160	214	1	1	NUM
fsr-3259	160	215	)	)	PUNCT
fsr-3259	160	216	406	406	NUM
fsr-3259	160	217	0.98	0.98	NUM
fsr-3259	160	218	0.15	0.15	NUM
fsr-3259	160	219	0.00	0.00	NUM
fsr-3259	160	220	1.00	1.00	NUM
fsr-3259	160	221	fund	fund	NOUN
fsr-3259	160	222	size	size	NOUN
fsr-3259	160	223	(	(	PUNCT
fsr-3259	160	224	$	$	SYM
fsr-3259	160	225	billion	billion	NUM
fsr-3259	160	226	)	)	PUNCT
fsr-3259	160	227	406	406	NUM
fsr-3259	160	228	4.53	4.53	NUM
fsr-3259	160	229	12.00	12.00	NUM
fsr-3259	160	230	0.001	0.001	NUM
fsr-3259	160	231	120.84	120.84	NUM
fsr-3259	160	232	notes	note	NOUN
fsr-3259	160	233	:	:	PUNCT
fsr-3259	160	234	the	the	DET
fsr-3259	160	235	sample	sample	NOUN
fsr-3259	160	236	consists	consist	VERB
fsr-3259	160	237	of	of	ADP
fsr-3259	160	238	154	154	NUM
fsr-3259	160	239	actively	actively	ADV
fsr-3259	160	240	managed	manage	VERB
fsr-3259	160	241	u.s	u.s	PROPN
fsr-3259	160	242	.	.	PROPN
fsr-3259	160	243	equity	equity	NOUN
fsr-3259	160	244	funds	fund	NOUN
fsr-3259	160	245	from	from	ADP
fsr-3259	160	246	46	46	NUM
fsr-3259	160	247	fund	fund	NOUN
fsr-3259	160	248	families	family	NOUN
fsr-3259	160	249	for	for	ADP
fsr-3259	160	250	the	the	DET
fsr-3259	160	251	period	period	NOUN
fsr-3259	160	252	of	of	ADP
fsr-3259	160	253	2001	2001	NUM
fsr-3259	160	254	and	and	CCONJ
fsr-3259	160	255	2006	2006	NUM
fsr-3259	160	256	.	.	PUNCT
fsr-3259	161	1	summary	summary	NOUN
fsr-3259	161	2	statistics	statistic	NOUN
fsr-3259	161	3	are	be	AUX
fsr-3259	161	4	obtained	obtain	VERB
fsr-3259	161	5	from	from	ADP
fsr-3259	161	6	fund	fund	NOUN
fsr-3259	161	7	-	-	PUNCT
fsr-3259	161	8	year	year	NOUN
fsr-3259	161	9	observations	observation	NOUN
fsr-3259	161	10	except	except	SCONJ
fsr-3259	161	11	for	for	ADP
fsr-3259	161	12	family	family	NOUN
fsr-3259	161	13	size	size	NOUN
fsr-3259	161	14	and	and	CCONJ
fsr-3259	161	15	monthly	monthly	ADJ
fsr-3259	161	16	gross	gross	ADJ
fsr-3259	161	17	return	return	NOUN
fsr-3259	161	18	.	.	PUNCT
fsr-3259	162	1	summary	summary	NOUN
fsr-3259	162	2	statistics	statistic	NOUN
fsr-3259	162	3	of	of	ADP
fsr-3259	162	4	family	family	NOUN
fsr-3259	162	5	size	size	NOUN
fsr-3259	162	6	are	be	AUX
fsr-3259	162	7	obtained	obtain	VERB
fsr-3259	162	8	from	from	ADP
fsr-3259	162	9	family	family	NOUN
fsr-3259	162	10	-	-	PUNCT
fsr-3259	162	11	year	year	NOUN
fsr-3259	162	12	observations	observation	NOUN
fsr-3259	162	13	and	and	CCONJ
fsr-3259	162	14	summary	summary	NOUN
fsr-3259	162	15	statistics	statistic	NOUN
fsr-3259	162	16	of	of	ADP
fsr-3259	162	17	monthly	monthly	ADJ
fsr-3259	162	18	gross	gross	ADJ
fsr-3259	162	19	return	return	NOUN
fsr-3259	162	20	from	from	ADP
fsr-3259	162	21	fund	fund	NOUN
fsr-3259	162	22	-	-	PUNCT
fsr-3259	162	23	month	month	NOUN
fsr-3259	162	24	observations	observation	NOUN
fsr-3259	162	25	.	.	PUNCT
fsr-3259	163	1	38	38	NUM
fsr-3259	163	2	y.	y.	PROPN
fsr-3259	163	3	park	park	PROPN
fsr-3259	163	4	/	/	SYM
fsr-3259	163	5	financial	financial	ADJ
fsr-3259	163	6	services	service	NOUN
fsr-3259	163	7	review	review	VERB
fsr-3259	163	8	25	25	NUM
fsr-3259	163	9	(	(	PUNCT
fsr-3259	163	10	2016	2016	NUM
fsr-3259	163	11	)	)	PUNCT
fsr-3259	163	12	29–49	29–49	NUM
fsr-3259	163	13	5.2	5.2	NUM
fsr-3259	163	14	.	.	PUNCT
fsr-3259	164	1	regression	regression	NOUN
fsr-3259	164	2	results	result	VERB
fsr-3259	164	3	5.2.1	5.2.1	NUM
fsr-3259	164	4	.	.	PUNCT
fsr-3259	165	1	effects	effect	NOUN
fsr-3259	165	2	of	of	ADP
fsr-3259	165	3	fund	fund	NOUN
fsr-3259	165	4	commonalities	commonality	NOUN
fsr-3259	165	5	on	on	ADP
fsr-3259	165	6	fund	fund	NOUN
fsr-3259	165	7	operating	operating	NOUN
fsr-3259	165	8	expenses	expense	NOUN
fsr-3259	165	9	regression	regression	NOUN
fsr-3259	165	10	results	result	NOUN
fsr-3259	165	11	in	in	ADP
fsr-3259	165	12	table	table	NOUN
fsr-3259	165	13	3	3	NUM
fsr-3259	165	14	present	present	NOUN
fsr-3259	165	15	that	that	PRON
fsr-3259	165	16	fund	fund	NOUN
fsr-3259	165	17	operating	operating	NOUN
fsr-3259	165	18	expenses	expense	NOUN
fsr-3259	165	19	are	be	AUX
fsr-3259	165	20	significantly	significantly	ADV
fsr-3259	165	21	negatively	negatively	ADV
fsr-3259	165	22	related	relate	VERB
fsr-3259	165	23	to	to	ADP
fsr-3259	165	24	two	two	NUM
fsr-3259	165	25	fund	fund	NOUN
fsr-3259	165	26	commonalities	commonality	NOUN
fsr-3259	165	27	:	:	PUNCT
fsr-3259	165	28	common	common	ADJ
fsr-3259	165	29	stock	stock	NOUN
fsr-3259	165	30	holdings	holding	NOUN
fsr-3259	165	31	and	and	CCONJ
fsr-3259	165	32	multi	multi	ADJ
fsr-3259	165	33	-	-	ADJ
fsr-3259	165	34	fund	fund	ADJ
fsr-3259	165	35	management.9	management.9	PROPN
fsr-3259	165	36	first	first	ADV
fsr-3259	165	37	,	,	PUNCT
fsr-3259	165	38	common	common	ADJ
fsr-3259	165	39	stock	stock	NOUN
fsr-3259	165	40	holdings	holding	NOUN
fsr-3259	165	41	are	be	AUX
fsr-3259	165	42	significantly	significantly	ADV
fsr-3259	165	43	negatively	negatively	ADV
fsr-3259	165	44	related	relate	VERB
fsr-3259	165	45	to	to	ADP
fsr-3259	165	46	a	a	DET
fsr-3259	165	47	fund	fund	NOUN
fsr-3259	165	48	’s	’s	PART
fsr-3259	165	49	operating	operate	VERB
fsr-3259	165	50	expense	expense	NOUN
fsr-3259	165	51	ratio	ratio	NOUN
fsr-3259	165	52	.	.	PUNCT
fsr-3259	166	1	a	a	DET
fsr-3259	166	2	10	10	NUM
fsr-3259	166	3	%	%	NOUN
fsr-3259	166	4	increase	increase	NOUN
fsr-3259	166	5	in	in	ADP
fsr-3259	166	6	common	common	ADJ
fsr-3259	166	7	stock	stock	NOUN
fsr-3259	166	8	holding	holding	NOUN
fsr-3259	166	9	,	,	PUNCT
fsr-3259	166	10	for	for	ADP
fsr-3259	166	11	example	example	NOUN
fsr-3259	166	12	,	,	PUNCT
fsr-3259	166	13	reduces	reduce	VERB
fsr-3259	166	14	a	a	DET
fsr-3259	166	15	fund	fund	NOUN
fsr-3259	166	16	’s	’s	PART
fsr-3259	166	17	operating	operate	VERB
fsr-3259	166	18	expense	expense	NOUN
fsr-3259	166	19	ratio	ratio	NOUN
fsr-3259	166	20	by	by	ADP
fsr-3259	166	21	1.3–1.4	1.3–1.4	NUM
fsr-3259	166	22	%	%	NOUN
fsr-3259	166	23	.	.	PUNCT
fsr-3259	167	1	to	to	PART
fsr-3259	167	2	further	far	ADV
fsr-3259	167	3	examine	examine	VERB
fsr-3259	167	4	how	how	SCONJ
fsr-3259	167	5	common	common	ADJ
fsr-3259	167	6	stock	stock	NOUN
fsr-3259	167	7	holdings	holding	NOUN
fsr-3259	167	8	are	be	AUX
fsr-3259	167	9	related	relate	VERB
fsr-3259	167	10	to	to	ADP
fsr-3259	167	11	the	the	DET
fsr-3259	167	12	components	component	NOUN
fsr-3259	167	13	of	of	ADP
fsr-3259	167	14	fund	fund	NOUN
fsr-3259	167	15	operating	operating	NOUN
fsr-3259	167	16	expenses	expense	NOUN
fsr-3259	167	17	,	,	PUNCT
fsr-3259	167	18	we	we	PRON
fsr-3259	167	19	estimate	estimate	VERB
fsr-3259	167	20	eq	eq	ADP
fsr-3259	167	21	.	.	PUNCT
fsr-3259	168	1	(	(	PUNCT
fsr-3259	168	2	5	5	NUM
fsr-3259	168	3	)	)	PUNCT
fsr-3259	168	4	for	for	ADP
fsr-3259	168	5	funds	fund	NOUN
fsr-3259	168	6	’	'	PUNCT
fsr-3259	168	7	management	management	NOUN
fsr-3259	168	8	fees	fee	NOUN
fsr-3259	168	9	(	(	PUNCT
fsr-3259	168	10	columns	column	NOUN
fsr-3259	168	11	3	3	NUM
fsr-3259	168	12	and	and	CCONJ
fsr-3259	168	13	4	4	NUM
fsr-3259	168	14	)	)	PUNCT
fsr-3259	168	15	and	and	CCONJ
fsr-3259	168	16	other	other	ADJ
fsr-3259	168	17	expenses	expense	NOUN
fsr-3259	168	18	(	(	PUNCT
fsr-3259	168	19	columns	column	NOUN
fsr-3259	168	20	5	5	NUM
fsr-3259	168	21	and	and	CCONJ
fsr-3259	168	22	6	6	NUM
fsr-3259	168	23	)	)	PUNCT
fsr-3259	168	24	.	.	PUNCT
fsr-3259	169	1	regression	regression	NOUN
fsr-3259	169	2	results	result	NOUN
fsr-3259	169	3	show	show	VERB
fsr-3259	169	4	that	that	SCONJ
fsr-3259	169	5	common	common	ADJ
fsr-3259	169	6	stock	stock	NOUN
fsr-3259	169	7	holdings	holding	NOUN
fsr-3259	169	8	are	be	AUX
fsr-3259	169	9	significantly	significantly	ADV
fsr-3259	169	10	negatively	negatively	ADV
fsr-3259	169	11	related	relate	VERB
fsr-3259	169	12	to	to	ADP
fsr-3259	169	13	a	a	DET
fsr-3259	169	14	fund	fund	NOUN
fsr-3259	169	15	’s	’s	PART
fsr-3259	169	16	management	management	NOUN
fsr-3259	169	17	fee	fee	NOUN
fsr-3259	169	18	,	,	PUNCT
fsr-3259	169	19	supporting	support	VERB
fsr-3259	169	20	hypothesis	hypothesis	NOUN
fsr-3259	169	21	h1	h1	PROPN
fsr-3259	169	22	-	-	PUNCT
fsr-3259	169	23	a.	a.	NOUN
fsr-3259	169	24	however	however	ADV
fsr-3259	169	25	,	,	PUNCT
fsr-3259	169	26	common	common	ADJ
fsr-3259	169	27	stock	stock	NOUN
fsr-3259	169	28	holdings	holding	NOUN
fsr-3259	169	29	are	be	AUX
fsr-3259	169	30	not	not	PART
fsr-3259	169	31	significantly	significantly	ADV
fsr-3259	169	32	related	relate	VERB
fsr-3259	169	33	to	to	ADP
fsr-3259	169	34	a	a	DET
fsr-3259	169	35	fund	fund	NOUN
fsr-3259	169	36	’s	’s	PART
fsr-3259	169	37	other	other	ADJ
fsr-3259	169	38	expenses	expense	NOUN
fsr-3259	169	39	.	.	PUNCT
fsr-3259	170	1	thus	thus	ADV
fsr-3259	170	2	,	,	PUNCT
fsr-3259	170	3	the	the	DET
fsr-3259	170	4	results	result	NOUN
fsr-3259	170	5	indicate	indicate	VERB
fsr-3259	170	6	that	that	SCONJ
fsr-3259	170	7	a	a	DET
fsr-3259	170	8	decrease	decrease	NOUN
fsr-3259	170	9	in	in	ADP
fsr-3259	170	10	a	a	DET
fsr-3259	170	11	fund	fund	NOUN
fsr-3259	170	12	’s	’s	PART
fsr-3259	170	13	operating	operate	VERB
fsr-3259	170	14	expense	expense	NOUN
fsr-3259	170	15	ratio	ratio	NOUN
fsr-3259	170	16	caused	cause	VERB
fsr-3259	170	17	by	by	ADP
fsr-3259	170	18	an	an	DET
fsr-3259	170	19	increase	increase	NOUN
fsr-3259	170	20	in	in	ADP
fsr-3259	170	21	common	common	ADJ
fsr-3259	170	22	stock	stock	NOUN
fsr-3259	170	23	holdings	holding	NOUN
fsr-3259	170	24	occurs	occur	VERB
fsr-3259	170	25	through	through	ADP
fsr-3259	170	26	a	a	DET
fsr-3259	170	27	decrease	decrease	NOUN
fsr-3259	170	28	in	in	ADP
fsr-3259	170	29	its	its	PRON
fsr-3259	170	30	management	management	NOUN
fsr-3259	170	31	fee	fee	NOUN
fsr-3259	170	32	,	,	PUNCT
fsr-3259	170	33	not	not	PART
fsr-3259	170	34	through	through	ADP
fsr-3259	170	35	its	its	PRON
fsr-3259	170	36	other	other	ADJ
fsr-3259	170	37	expenses	expense	NOUN
fsr-3259	170	38	.	.	PUNCT
fsr-3259	171	1	second	second	ADJ
fsr-3259	171	2	,	,	PUNCT
fsr-3259	171	3	multi	multi	ADJ
fsr-3259	171	4	-	-	ADJ
fsr-3259	171	5	fund	fund	ADJ
fsr-3259	171	6	management	management	NOUN
fsr-3259	171	7	is	be	AUX
fsr-3259	171	8	significantly	significantly	ADV
fsr-3259	171	9	negatively	negatively	ADV
fsr-3259	171	10	related	relate	VERB
fsr-3259	171	11	to	to	ADP
fsr-3259	171	12	a	a	DET
fsr-3259	171	13	fund	fund	NOUN
fsr-3259	171	14	’s	’s	PART
fsr-3259	171	15	operating	operate	VERB
fsr-3259	171	16	expense	expense	NOUN
fsr-3259	171	17	ratio	ratio	NOUN
fsr-3259	171	18	(	(	PUNCT
fsr-3259	171	19	columns	column	NOUN
fsr-3259	171	20	1	1	NUM
fsr-3259	171	21	and	and	CCONJ
fsr-3259	171	22	2	2	NUM
fsr-3259	171	23	)	)	PUNCT
fsr-3259	171	24	.	.	PUNCT
fsr-3259	172	1	for	for	ADP
fsr-3259	172	2	example	example	NOUN
fsr-3259	172	3	,	,	PUNCT
fsr-3259	172	4	a	a	DET
fsr-3259	172	5	fund	fund	NOUN
fsr-3259	172	6	’s	’s	PART
fsr-3259	172	7	operating	operate	VERB
fsr-3259	172	8	expense	expense	NOUN
fsr-3259	172	9	ratio	ratio	NOUN
fsr-3259	172	10	is	be	AUX
fsr-3259	172	11	reduced	reduce	VERB
fsr-3259	172	12	by	by	ADP
fsr-3259	172	13	4.2–5.1	4.2–5.1	NOUN
fsr-3259	172	14	%	%	NOUN
fsr-3259	172	15	when	when	SCONJ
fsr-3259	172	16	a	a	DET
fsr-3259	172	17	fund	fund	NOUN
fsr-3259	172	18	table	table	NOUN
fsr-3259	172	19	3	3	NUM
fsr-3259	172	20	effects	effect	NOUN
fsr-3259	172	21	of	of	ADP
fsr-3259	172	22	fund	fund	NOUN
fsr-3259	172	23	commonalities	commonality	NOUN
fsr-3259	172	24	on	on	ADP
fsr-3259	172	25	fund	fund	NOUN
fsr-3259	172	26	expenses	expense	NOUN
fsr-3259	172	27	operating	operate	VERB
fsr-3259	172	28	expense	expense	NOUN
fsr-3259	172	29	management	management	NOUN
fsr-3259	172	30	fee	fee	NOUN
fsr-3259	172	31	other	other	ADJ
fsr-3259	172	32	expenses	expense	NOUN
fsr-3259	172	33	(	(	PUNCT
fsr-3259	172	34	1	1	NUM
fsr-3259	172	35	)	)	PUNCT
fsr-3259	172	36	(	(	PUNCT
fsr-3259	172	37	2	2	NUM
fsr-3259	172	38	)	)	PUNCT
fsr-3259	172	39	(	(	PUNCT
fsr-3259	172	40	3	3	X
fsr-3259	172	41	)	)	PUNCT
fsr-3259	172	42	(	(	PUNCT
fsr-3259	172	43	4	4	NUM
fsr-3259	172	44	)	)	PUNCT
fsr-3259	172	45	(	(	PUNCT
fsr-3259	172	46	5	5	NUM
fsr-3259	172	47	)	)	PUNCT
fsr-3259	172	48	(	(	PUNCT
fsr-3259	172	49	6	6	X
fsr-3259	172	50	)	)	PUNCT
fsr-3259	172	51	common	common	ADJ
fsr-3259	172	52	stock	stock	NOUN
fsr-3259	172	53	holding	holding	NOUN
fsr-3259	172	54	(	(	PUNCT
fsr-3259	172	55	comh	comh	NOUN
fsr-3259	172	56	)	)	PUNCT
fsr-3259	172	57	�	�	PROPN
fsr-3259	172	58	0.138	0.138	NUM
fsr-3259	172	59	*	*	SYM
fsr-3259	172	60	*	*	PUNCT
fsr-3259	172	61	�	�	PROPN
fsr-3259	172	62	0.134	0.134	NUM
fsr-3259	172	63	*	*	SYM
fsr-3259	172	64	�	�	PROPN
fsr-3259	172	65	0.158	0.158	NUM
fsr-3259	172	66	*	*	PUNCT
fsr-3259	172	67	*	*	PUNCT
fsr-3259	172	68	�	�	PROPN
fsr-3259	172	69	0.076	0.076	NUM
fsr-3259	172	70	*	*	PROPN
fsr-3259	172	71	0.020	0.020	NUM
fsr-3259	172	72	�	�	NOUN
fsr-3259	172	73	0.047	0.047	NUM
fsr-3259	172	74	(	(	PUNCT
fsr-3259	172	75	0.047	0.047	NUM
fsr-3259	172	76	)	)	PUNCT
fsr-3259	172	77	(	(	PUNCT
fsr-3259	173	1	0.063	0.063	NUM
fsr-3259	173	2	)	)	PUNCT
fsr-3259	173	3	(	(	PUNCT
fsr-3259	173	4	0.032	0.032	NUM
fsr-3259	173	5	)	)	PUNCT
fsr-3259	173	6	(	(	PUNCT
fsr-3259	173	7	0.035	0.035	NUM
fsr-3259	173	8	)	)	PUNCT
fsr-3259	173	9	(	(	PUNCT
fsr-3259	173	10	0.042	0.042	NUM
fsr-3259	173	11	)	)	PUNCT
fsr-3259	173	12	(	(	PUNCT
fsr-3259	173	13	0.060	0.060	NUM
fsr-3259	173	14	)	)	PUNCT
fsr-3259	173	15	multi	multi	ADJ
fsr-3259	173	16	-	-	ADJ
fsr-3259	173	17	fund	fund	ADJ
fsr-3259	173	18	management	management	NOUN
fsr-3259	173	19	(	(	PUNCT
fsr-3259	173	20	comm	comm	NOUN
fsr-3259	173	21	,	,	PUNCT
fsr-3259	173	22	yes	yes	INTJ
fsr-3259	173	23	�	�	PROPN
fsr-3259	173	24	1	1	NUM
fsr-3259	173	25	)	)	PUNCT
fsr-3259	173	26	�	�	PROPN
fsr-3259	173	27	0.042	0.042	NUM
fsr-3259	173	28	*	*	NOUN
fsr-3259	173	29	*	*	PUNCT
fsr-3259	173	30	�	�	PROPN
fsr-3259	173	31	0.051	0.051	NUM
fsr-3259	173	32	*	*	PUNCT
fsr-3259	173	33	0.014	0.014	NUM
fsr-3259	173	34	0.018	0.018	NUM
fsr-3259	173	35	�	�	PROPN
fsr-3259	173	36	0.056	0.056	NUM
fsr-3259	173	37	*	*	PROPN
fsr-3259	173	38	*	*	PROPN
fsr-3259	173	39	�	�	PROPN
fsr-3259	173	40	0.069	0.069	NUM
fsr-3259	173	41	*	*	NOUN
fsr-3259	173	42	*	*	PUNCT
fsr-3259	173	43	(	(	PUNCT
fsr-3259	173	44	0.014	0.014	NUM
fsr-3259	173	45	)	)	PUNCT
fsr-3259	173	46	(	(	PUNCT
fsr-3259	173	47	0.025	0.025	NUM
fsr-3259	173	48	)	)	PUNCT
fsr-3259	173	49	(	(	PUNCT
fsr-3259	173	50	0.012	0.012	NUM
fsr-3259	173	51	)	)	PUNCT
fsr-3259	173	52	(	(	PUNCT
fsr-3259	173	53	0.016	0.016	NUM
fsr-3259	173	54	)	)	PUNCT
fsr-3259	173	55	(	(	PUNCT
fsr-3259	173	56	0.013	0.013	NUM
fsr-3259	173	57	)	)	PUNCT
fsr-3259	173	58	(	(	PUNCT
fsr-3259	173	59	0.024	0.024	NUM
fsr-3259	173	60	)	)	PUNCT
fsr-3259	173	61	turnover	turnover	NOUN
fsr-3259	173	62	ratio	ratio	NOUN
fsr-3259	173	63	0.022	0.022	NUM
fsr-3259	173	64	0.019	0.019	NUM
fsr-3259	173	65	�	�	PROPN
fsr-3259	173	66	0.018	0.018	NUM
fsr-3259	173	67	*	*	NOUN
fsr-3259	173	68	*	*	PUNCT
fsr-3259	173	69	�	�	PROPN
fsr-3259	173	70	0.012	0.012	NUM
fsr-3259	173	71	0.041	0.041	NUM
fsr-3259	173	72	*	*	PUNCT
fsr-3259	173	73	*	*	PUNCT
fsr-3259	173	74	0.033	0.033	NUM
fsr-3259	173	75	*	*	PUNCT
fsr-3259	173	76	(	(	PUNCT
fsr-3259	173	77	0.014	0.014	NUM
fsr-3259	173	78	)	)	PUNCT
fsr-3259	173	79	(	(	PUNCT
fsr-3259	173	80	0.015	0.015	NUM
fsr-3259	173	81	)	)	PUNCT
fsr-3259	173	82	(	(	PUNCT
fsr-3259	173	83	0.007	0.007	NUM
fsr-3259	173	84	)	)	PUNCT
fsr-3259	173	85	(	(	PUNCT
fsr-3259	173	86	0.007	0.007	NUM
fsr-3259	173	87	)	)	PUNCT
fsr-3259	173	88	(	(	PUNCT
fsr-3259	173	89	0.012	0.012	NUM
fsr-3259	173	90	)	)	PUNCT
fsr-3259	173	91	(	(	PUNCT
fsr-3259	173	92	0.015	0.015	NUM
fsr-3259	173	93	)	)	PUNCT
fsr-3259	173	94	load	load	NOUN
fsr-3259	173	95	fund	fund	NOUN
fsr-3259	173	96	(	(	PUNCT
fsr-3259	173	97	yes	yes	INTJ
fsr-3259	173	98	�	�	PROPN
fsr-3259	173	99	1	1	NUM
fsr-3259	173	100	)	)	PUNCT
fsr-3259	173	101	0.035	0.035	NUM
fsr-3259	173	102	�	�	PROPN
fsr-3259	173	103	0.070	0.070	NUM
fsr-3259	173	104	0.032	0.032	NUM
fsr-3259	173	105	�	�	PROPN
fsr-3259	173	106	0.014	0.014	NUM
fsr-3259	173	107	0.001	0.001	NUM
fsr-3259	173	108	�	�	PROPN
fsr-3259	173	109	0.058	0.058	NUM
fsr-3259	173	110	(	(	PUNCT
fsr-3259	173	111	0.087	0.087	NUM
fsr-3259	173	112	)	)	PUNCT
fsr-3259	173	113	(	(	PUNCT
fsr-3259	173	114	0.049	0.049	NUM
fsr-3259	173	115	)	)	PUNCT
fsr-3259	173	116	(	(	PUNCT
fsr-3259	173	117	0.033	0.033	NUM
fsr-3259	173	118	)	)	PUNCT
fsr-3259	173	119	(	(	PUNCT
fsr-3259	173	120	0.014	0.014	NUM
fsr-3259	173	121	)	)	PUNCT
fsr-3259	173	122	(	(	PUNCT
fsr-3259	173	123	0.065	0.065	NUM
fsr-3259	173	124	)	)	PUNCT
fsr-3259	173	125	(	(	PUNCT
fsr-3259	173	126	0.042	0.042	NUM
fsr-3259	173	127	)	)	PUNCT
fsr-3259	173	128	growth	growth	NOUN
fsr-3259	173	129	and	and	CCONJ
fsr-3259	173	130	income	income	NOUN
fsr-3259	173	131	(	(	PUNCT
fsr-3259	173	132	gi	gi	NOUN
fsr-3259	173	133	)	)	PUNCT
fsr-3259	173	134	�	�	PROPN
fsr-3259	173	135	0.157	0.157	NUM
fsr-3259	173	136	*	*	NOUN
fsr-3259	173	137	*	*	PUNCT
fsr-3259	173	138	�	�	PROPN
fsr-3259	173	139	0.204	0.204	NUM
fsr-3259	173	140	*	*	NOUN
fsr-3259	173	141	*	*	NOUN
fsr-3259	173	142	�	�	PROPN
fsr-3259	173	143	0.180	0.180	NUM
fsr-3259	173	144	*	*	NOUN
fsr-3259	173	145	*	*	PUNCT
fsr-3259	173	146	�	�	X
fsr-3259	173	147	0.165	0.165	NUM
fsr-3259	173	148	*	*	PUNCT
fsr-3259	173	149	*	*	PROPN
fsr-3259	173	150	0.023	0.023	NUM
fsr-3259	173	151	�	�	PROPN
fsr-3259	173	152	0.042	0.042	NUM
fsr-3259	173	153	*	*	SYM
fsr-3259	173	154	(	(	PUNCT
fsr-3259	173	155	0.019	0.019	NUM
fsr-3259	173	156	)	)	PUNCT
fsr-3259	173	157	(	(	PUNCT
fsr-3259	173	158	0.018	0.018	NUM
fsr-3259	173	159	)	)	PUNCT
fsr-3259	173	160	(	(	PUNCT
fsr-3259	173	161	0.015	0.015	NUM
fsr-3259	173	162	)	)	PUNCT
fsr-3259	173	163	(	(	PUNCT
fsr-3259	173	164	0.010	0.010	NUM
fsr-3259	173	165	)	)	PUNCT
fsr-3259	173	166	(	(	PUNCT
fsr-3259	173	167	0.018	0.018	NUM
fsr-3259	173	168	)	)	PUNCT
fsr-3259	173	169	(	(	PUNCT
fsr-3259	173	170	0.016	0.016	NUM
fsr-3259	173	171	)	)	PUNCT
fsr-3259	173	172	long	long	ADJ
fsr-3259	173	173	-	-	PUNCT
fsr-3259	173	174	term	term	NOUN
fsr-3259	173	175	growth	growth	NOUN
fsr-3259	173	176	(	(	PUNCT
fsr-3259	173	177	lg	lg	NOUN
fsr-3259	173	178	)	)	PUNCT
fsr-3259	173	179	�	�	NOUN
fsr-3259	173	180	0.060	0.060	NUM
fsr-3259	173	181	*	*	SYM
fsr-3259	173	182	*	*	PROPN
fsr-3259	173	183	�	�	PROPN
fsr-3259	173	184	0.068	0.068	NUM
fsr-3259	173	185	*	*	PROPN
fsr-3259	173	186	*	*	PROPN
fsr-3259	173	187	�	�	PROPN
fsr-3259	173	188	0.087	0.087	NUM
fsr-3259	173	189	*	*	NOUN
fsr-3259	173	190	*	*	PUNCT
fsr-3259	173	191	�	�	PROPN
fsr-3259	173	192	0.079	0.079	NUM
fsr-3259	173	193	*	*	PROPN
fsr-3259	173	194	*	*	PUNCT
fsr-3259	173	195	0.025	0.025	NUM
fsr-3259	173	196	0.007	0.007	NUM
fsr-3259	173	197	(	(	PUNCT
fsr-3259	173	198	0.018	0.018	NUM
fsr-3259	173	199	)	)	PUNCT
fsr-3259	173	200	(	(	PUNCT
fsr-3259	173	201	0.014	0.014	NUM
fsr-3259	173	202	)	)	PUNCT
fsr-3259	173	203	(	(	PUNCT
fsr-3259	173	204	0.013	0.013	NUM
fsr-3259	173	205	)	)	PUNCT
fsr-3259	173	206	(	(	PUNCT
fsr-3259	173	207	0.008	0.008	NUM
fsr-3259	173	208	)	)	PUNCT
fsr-3259	173	209	(	(	PUNCT
fsr-3259	173	210	0.016	0.016	NUM
fsr-3259	173	211	)	)	PUNCT
fsr-3259	173	212	(	(	PUNCT
fsr-3259	173	213	0.014	0.014	NUM
fsr-3259	173	214	)	)	PUNCT
fsr-3259	173	215	fund	fund	NOUN
fsr-3259	173	216	size	size	NOUN
fsr-3259	173	217	�	�	PROPN
fsr-3259	173	218	0.119	0.119	NUM
fsr-3259	173	219	*	*	NOUN
fsr-3259	173	220	*	*	PROPN
fsr-3259	173	221	�	�	PROPN
fsr-3259	173	222	0.105	0.105	NUM
fsr-3259	173	223	*	*	PROPN
fsr-3259	173	224	*	*	PROPN
fsr-3259	173	225	�	�	PROPN
fsr-3259	173	226	0.043	0.043	NUM
fsr-3259	173	227	*	*	NOUN
fsr-3259	173	228	*	*	X
fsr-3259	173	229	�	�	PROPN
fsr-3259	173	230	0.028	0.028	NUM
fsr-3259	173	231	*	*	PROPN
fsr-3259	173	232	*	*	PUNCT
fsr-3259	173	233	�	�	PROPN
fsr-3259	173	234	0.076	0.076	NUM
fsr-3259	173	235	*	*	PROPN
fsr-3259	173	236	*	*	PROPN
fsr-3259	173	237	�	�	PROPN
fsr-3259	173	238	0.076	0.076	NUM
fsr-3259	173	239	*	*	NOUN
fsr-3259	173	240	*	*	PUNCT
fsr-3259	173	241	(	(	PUNCT
fsr-3259	173	242	0.010	0.010	NUM
fsr-3259	173	243	)	)	PUNCT
fsr-3259	173	244	(	(	PUNCT
fsr-3259	173	245	0.012	0.012	NUM
fsr-3259	173	246	)	)	PUNCT
fsr-3259	173	247	(	(	PUNCT
fsr-3259	173	248	0.006	0.006	NUM
fsr-3259	173	249	)	)	PUNCT
fsr-3259	173	250	(	(	PUNCT
fsr-3259	173	251	0.006	0.006	NUM
fsr-3259	173	252	)	)	PUNCT
fsr-3259	173	253	(	(	PUNCT
fsr-3259	173	254	0.009	0.009	NUM
fsr-3259	173	255	)	)	PUNCT
fsr-3259	173	256	(	(	PUNCT
fsr-3259	173	257	0.011	0.011	NUM
fsr-3259	173	258	)	)	PUNCT
fsr-3259	173	259	family	family	NOUN
fsr-3259	173	260	size	size	NOUN
fsr-3259	173	261	�	�	PROPN
fsr-3259	173	262	0.026	0.026	NUM
fsr-3259	173	263	*	*	PROPN
fsr-3259	173	264	*	*	PROPN
fsr-3259	173	265	�	�	PROPN
fsr-3259	173	266	0.083	0.083	NUM
fsr-3259	173	267	*	*	PROPN
fsr-3259	173	268	*	*	PROPN
fsr-3259	173	269	�	�	PROPN
fsr-3259	173	270	0.038	0.038	NUM
fsr-3259	173	271	*	*	PUNCT
fsr-3259	173	272	*	*	PROPN
fsr-3259	173	273	0.011	0.011	NUM
fsr-3259	173	274	0.012	0.012	NUM
fsr-3259	173	275	*	*	SYM
fsr-3259	173	276	�	�	PROPN
fsr-3259	173	277	0.091	0.091	NUM
fsr-3259	173	278	*	*	NOUN
fsr-3259	173	279	*	*	PUNCT
fsr-3259	173	280	(	(	PUNCT
fsr-3259	173	281	0.005	0.005	NUM
fsr-3259	173	282	)	)	PUNCT
fsr-3259	173	283	(	(	PUNCT
fsr-3259	173	284	0.017	0.017	NUM
fsr-3259	173	285	)	)	PUNCT
fsr-3259	173	286	(	(	PUNCT
fsr-3259	173	287	0.004	0.004	NUM
fsr-3259	173	288	)	)	PUNCT
fsr-3259	173	289	(	(	PUNCT
fsr-3259	173	290	0.016	0.016	NUM
fsr-3259	173	291	)	)	PUNCT
fsr-3259	173	292	(	(	PUNCT
fsr-3259	173	293	0.005	0.005	NUM
fsr-3259	173	294	)	)	PUNCT
fsr-3259	173	295	(	(	PUNCT
fsr-3259	173	296	0.021	0.021	NUM
fsr-3259	173	297	)	)	PUNCT
fsr-3259	173	298	year	year	NOUN
fsr-3259	173	299	fixed	fix	VERB
fsr-3259	173	300	effects	effect	NOUN
fsr-3259	174	1	yes	yes	INTJ
fsr-3259	175	1	yes	yes	INTJ
fsr-3259	176	1	yes	yes	INTJ
fsr-3259	177	1	yes	yes	INTJ
fsr-3259	178	1	yes	yes	INTJ
fsr-3259	179	1	yes	yes	INTJ
fsr-3259	179	2	family	family	NOUN
fsr-3259	179	3	fixed	fix	VERB
fsr-3259	179	4	effects	effect	NOUN
fsr-3259	180	1	no	no	INTJ
fsr-3259	180	2	yes	yes	INTJ
fsr-3259	181	1	no	no	INTJ
fsr-3259	182	1	yes	yes	INTJ
fsr-3259	183	1	no	no	INTJ
fsr-3259	183	2	yes	yes	INTJ
fsr-3259	183	3	observations	observation	NOUN
fsr-3259	183	4	895	895	NUM
fsr-3259	183	5	895	895	NUM
fsr-3259	183	6	895	895	NUM
fsr-3259	183	7	895	895	NUM
fsr-3259	183	8	895	895	NUM
fsr-3259	183	9	895	895	NUM
fsr-3259	183	10	adjusted	adjust	VERB
fsr-3259	183	11	r2	r2	NOUN
fsr-3259	184	1	0.426	0.426	NUM
fsr-3259	184	2	0.641	0.641	NUM
fsr-3259	184	3	0.468	0.468	NUM
fsr-3259	184	4	0.807	0.807	NUM
fsr-3259	184	5	0.148	0.148	NUM
fsr-3259	184	6	0.392	0.392	NUM
fsr-3259	184	7	notes	note	NOUN
fsr-3259	184	8	:	:	PUNCT
fsr-3259	185	1	the	the	DET
fsr-3259	185	2	table	table	NOUN
fsr-3259	185	3	reports	report	VERB
fsr-3259	185	4	the	the	DET
fsr-3259	185	5	results	result	NOUN
fsr-3259	185	6	of	of	ADP
fsr-3259	185	7	the	the	DET
fsr-3259	185	8	regressions	regression	NOUN
fsr-3259	185	9	of	of	ADP
fsr-3259	185	10	fund	fund	NOUN
fsr-3259	185	11	expenses	expense	NOUN
fsr-3259	185	12	on	on	ADP
fsr-3259	185	13	fund	fund	NOUN
fsr-3259	185	14	commonalities	commonality	NOUN
fsr-3259	185	15	.	.	PUNCT
fsr-3259	186	1	the	the	DET
fsr-3259	186	2	dependent	dependent	ADJ
fsr-3259	186	3	variables	variable	NOUN
fsr-3259	186	4	are	be	AUX
fsr-3259	186	5	operating	operate	VERB
fsr-3259	186	6	expense	expense	NOUN
fsr-3259	186	7	(	(	PUNCT
fsr-3259	186	8	columns	column	NOUN
fsr-3259	186	9	1	1	NUM
fsr-3259	186	10	and	and	CCONJ
fsr-3259	186	11	2	2	NUM
fsr-3259	186	12	)	)	PUNCT
fsr-3259	186	13	,	,	PUNCT
fsr-3259	186	14	management	management	NOUN
fsr-3259	186	15	fee	fee	NOUN
fsr-3259	186	16	(	(	PUNCT
fsr-3259	186	17	columns	column	NOUN
fsr-3259	186	18	3	3	NUM
fsr-3259	186	19	and	and	CCONJ
fsr-3259	186	20	4	4	NUM
fsr-3259	186	21	)	)	PUNCT
fsr-3259	186	22	,	,	PUNCT
fsr-3259	186	23	and	and	CCONJ
fsr-3259	186	24	other	other	ADJ
fsr-3259	186	25	expense	expense	NOUN
fsr-3259	186	26	(	(	PUNCT
fsr-3259	186	27	columns	column	NOUN
fsr-3259	186	28	5	5	NUM
fsr-3259	186	29	and	and	CCONJ
fsr-3259	186	30	6	6	NUM
fsr-3259	186	31	)	)	PUNCT
fsr-3259	186	32	of	of	ADP
fsr-3259	186	33	mutual	mutual	ADJ
fsr-3259	186	34	funds	fund	NOUN
fsr-3259	186	35	.	.	PUNCT
fsr-3259	187	1	a	a	DET
fsr-3259	187	2	fund	fund	NOUN
fsr-3259	187	3	’s	’s	PART
fsr-3259	187	4	operating	operate	VERB
fsr-3259	187	5	expense	expense	NOUN
fsr-3259	187	6	is	be	AUX
fsr-3259	187	7	divided	divide	VERB
fsr-3259	187	8	into	into	ADP
fsr-3259	187	9	a	a	DET
fsr-3259	187	10	fund	fund	NOUN
fsr-3259	187	11	’s	’s	PART
fsr-3259	187	12	management	management	NOUN
fsr-3259	187	13	fee	fee	NOUN
fsr-3259	187	14	and	and	CCONJ
fsr-3259	187	15	other	other	ADJ
fsr-3259	187	16	expenses	expense	NOUN
fsr-3259	187	17	.	.	PUNCT
fsr-3259	188	1	fund	fund	NOUN
fsr-3259	188	2	size	size	NOUN
fsr-3259	188	3	and	and	CCONJ
fsr-3259	188	4	family	family	NOUN
fsr-3259	188	5	size	size	NOUN
fsr-3259	188	6	indicate	indicate	VERB
fsr-3259	188	7	the	the	DET
fsr-3259	188	8	natural	natural	ADJ
fsr-3259	188	9	logarithm	logarithm	NOUN
fsr-3259	188	10	of	of	ADP
fsr-3259	188	11	one	one	NUM
fsr-3259	188	12	plus	plus	CCONJ
fsr-3259	188	13	a	a	DET
fsr-3259	188	14	fund	fund	NOUN
fsr-3259	188	15	’s	’s	PART
fsr-3259	188	16	year	year	NOUN
fsr-3259	188	17	-	-	PUNCT
fsr-3259	188	18	end	end	NOUN
fsr-3259	188	19	total	total	ADJ
fsr-3259	188	20	net	net	ADJ
fsr-3259	188	21	assets	asset	NOUN
fsr-3259	188	22	(	(	PUNCT
fsr-3259	188	23	in	in	ADP
fsr-3259	188	24	billions	billion	NOUN
fsr-3259	188	25	)	)	PUNCT
fsr-3259	188	26	and	and	CCONJ
fsr-3259	188	27	the	the	DET
fsr-3259	188	28	natural	natural	ADJ
fsr-3259	188	29	logarithm	logarithm	NOUN
fsr-3259	188	30	of	of	ADP
fsr-3259	188	31	one	one	NUM
fsr-3259	188	32	plus	plus	CCONJ
fsr-3259	188	33	the	the	DET
fsr-3259	188	34	year	year	NOUN
fsr-3259	188	35	-	-	PUNCT
fsr-3259	188	36	end	end	NOUN
fsr-3259	188	37	total	total	ADJ
fsr-3259	188	38	net	net	ADJ
fsr-3259	188	39	assets	asset	NOUN
fsr-3259	188	40	(	(	PUNCT
fsr-3259	188	41	in	in	ADP
fsr-3259	188	42	billions	billion	NOUN
fsr-3259	188	43	)	)	PUNCT
fsr-3259	188	44	managed	manage	VERB
fsr-3259	188	45	by	by	ADP
fsr-3259	188	46	a	a	DET
fsr-3259	188	47	family	family	NOUN
fsr-3259	188	48	,	,	PUNCT
fsr-3259	188	49	respectively	respectively	ADV
fsr-3259	188	50	.	.	PUNCT
fsr-3259	189	1	robust	robust	ADJ
fsr-3259	189	2	standard	standard	ADJ
fsr-3259	189	3	errors	error	NOUN
fsr-3259	189	4	are	be	AUX
fsr-3259	189	5	in	in	ADP
fsr-3259	189	6	parentheses	parenthesis	NOUN
fsr-3259	189	7	.	.	PUNCT
fsr-3259	190	1	*	*	PUNCT
fsr-3259	190	2	p	p	X
fsr-3259	190	3	�	�	PROPN
fsr-3259	190	4	0.05	0.05	NUM
fsr-3259	190	5	,	,	PUNCT
fsr-3259	190	6	*	*	PUNCT
fsr-3259	190	7	*	*	PUNCT
fsr-3259	190	8	p	p	X
fsr-3259	190	9	�	�	PROPN
fsr-3259	190	10	0.01	0.01	NUM
fsr-3259	190	11	.	.	PUNCT
fsr-3259	191	1	39y	39y	NOUN
fsr-3259	191	2	.	.	PUNCT
fsr-3259	192	1	park	park	NOUN
fsr-3259	192	2	/	/	SYM
fsr-3259	192	3	financial	financial	ADJ
fsr-3259	192	4	services	service	NOUN
fsr-3259	192	5	review	review	VERB
fsr-3259	192	6	25	25	NUM
fsr-3259	192	7	(	(	PUNCT
fsr-3259	192	8	2016	2016	NUM
fsr-3259	192	9	)	)	PUNCT
fsr-3259	192	10	29–49	29–49	NUM
fsr-3259	192	11	is	be	AUX
fsr-3259	192	12	managed	manage	VERB
fsr-3259	192	13	by	by	ADP
fsr-3259	192	14	multi	multi	ADJ
fsr-3259	192	15	-	-	ADJ
fsr-3259	192	16	fund	fund	NOUN
fsr-3259	192	17	managers	manager	NOUN
fsr-3259	192	18	who	who	PRON
fsr-3259	192	19	simultaneously	simultaneously	ADV
fsr-3259	192	20	manage	manage	VERB
fsr-3259	192	21	other	other	ADJ
fsr-3259	192	22	funds	fund	NOUN
fsr-3259	192	23	that	that	PRON
fsr-3259	192	24	have	have	VERB
fsr-3259	192	25	different	different	ADJ
fsr-3259	192	26	investment	investment	NOUN
fsr-3259	192	27	objectives	objective	NOUN
fsr-3259	192	28	.	.	PUNCT
fsr-3259	193	1	in	in	ADP
fsr-3259	193	2	addition	addition	NOUN
fsr-3259	193	3	,	,	PUNCT
fsr-3259	193	4	regression	regression	NOUN
fsr-3259	193	5	results	result	NOUN
fsr-3259	193	6	on	on	ADP
fsr-3259	193	7	management	management	NOUN
fsr-3259	193	8	fees	fee	NOUN
fsr-3259	193	9	(	(	PUNCT
fsr-3259	193	10	columns	column	NOUN
fsr-3259	193	11	3	3	NUM
fsr-3259	193	12	and	and	CCONJ
fsr-3259	193	13	4	4	NUM
fsr-3259	193	14	)	)	PUNCT
fsr-3259	193	15	and	and	CCONJ
fsr-3259	193	16	other	other	ADJ
fsr-3259	193	17	expenses	expense	NOUN
fsr-3259	193	18	(	(	PUNCT
fsr-3259	193	19	columns	column	NOUN
fsr-3259	193	20	5	5	NUM
fsr-3259	193	21	and	and	CCONJ
fsr-3259	193	22	6	6	NUM
fsr-3259	193	23	)	)	PUNCT
fsr-3259	193	24	show	show	VERB
fsr-3259	193	25	that	that	SCONJ
fsr-3259	193	26	multi	multi	ADJ
fsr-3259	193	27	-	-	ADJ
fsr-3259	193	28	fund	fund	ADJ
fsr-3259	193	29	management	management	NOUN
fsr-3259	193	30	is	be	AUX
fsr-3259	193	31	not	not	PART
fsr-3259	193	32	significantly	significantly	ADV
fsr-3259	193	33	related	relate	VERB
fsr-3259	193	34	to	to	ADP
fsr-3259	193	35	a	a	DET
fsr-3259	193	36	fund	fund	NOUN
fsr-3259	193	37	’s	’s	PART
fsr-3259	193	38	management	management	NOUN
fsr-3259	193	39	fee	fee	NOUN
fsr-3259	193	40	but	but	CCONJ
fsr-3259	193	41	significantly	significantly	ADV
fsr-3259	193	42	negatively	negatively	ADV
fsr-3259	193	43	related	relate	VERB
fsr-3259	193	44	to	to	ADP
fsr-3259	193	45	a	a	DET
fsr-3259	193	46	fund	fund	NOUN
fsr-3259	193	47	’s	’s	PART
fsr-3259	193	48	other	other	ADJ
fsr-3259	193	49	expenses	expense	NOUN
fsr-3259	193	50	,	,	PUNCT
fsr-3259	193	51	supporting	support	VERB
fsr-3259	193	52	hypothesis	hypothesis	NOUN
fsr-3259	193	53	h1	h1	PROPN
fsr-3259	193	54	-	-	PUNCT
fsr-3259	193	55	b.	b.	PROPN
fsr-3259	193	56	thus	thus	ADV
fsr-3259	193	57	,	,	PUNCT
fsr-3259	193	58	the	the	DET
fsr-3259	193	59	results	result	NOUN
fsr-3259	193	60	indicate	indicate	VERB
fsr-3259	193	61	that	that	SCONJ
fsr-3259	193	62	a	a	DET
fsr-3259	193	63	decrease	decrease	NOUN
fsr-3259	193	64	in	in	ADP
fsr-3259	193	65	a	a	DET
fsr-3259	193	66	fund	fund	NOUN
fsr-3259	193	67	’s	’s	PART
fsr-3259	193	68	operating	operate	VERB
fsr-3259	193	69	expense	expense	NOUN
fsr-3259	193	70	ratio	ratio	NOUN
fsr-3259	193	71	caused	cause	VERB
fsr-3259	193	72	by	by	ADP
fsr-3259	193	73	multi	multi	ADJ
fsr-3259	193	74	-	-	ADJ
fsr-3259	193	75	fund	fund	ADJ
fsr-3259	193	76	management	management	NOUN
fsr-3259	193	77	occurs	occur	VERB
fsr-3259	193	78	through	through	ADP
fsr-3259	193	79	a	a	DET
fsr-3259	193	80	decrease	decrease	NOUN
fsr-3259	193	81	in	in	ADP
fsr-3259	193	82	its	its	PRON
fsr-3259	193	83	other	other	ADJ
fsr-3259	193	84	expenses	expense	NOUN
fsr-3259	193	85	,	,	PUNCT
fsr-3259	193	86	not	not	PART
fsr-3259	193	87	through	through	ADP
fsr-3259	193	88	its	its	PRON
fsr-3259	193	89	management	management	NOUN
fsr-3259	193	90	fee	fee	NOUN
fsr-3259	193	91	.	.	PUNCT
fsr-3259	194	1	for	for	ADP
fsr-3259	194	2	the	the	DET
fsr-3259	194	3	effects	effect	NOUN
fsr-3259	194	4	of	of	ADP
fsr-3259	194	5	the	the	DET
fsr-3259	194	6	control	control	NOUN
fsr-3259	194	7	variables	variable	NOUN
fsr-3259	194	8	on	on	ADP
fsr-3259	194	9	fund	fund	NOUN
fsr-3259	194	10	operating	operating	NOUN
fsr-3259	194	11	expenses	expense	NOUN
fsr-3259	194	12	,	,	PUNCT
fsr-3259	194	13	table	table	NOUN
fsr-3259	194	14	3	3	NUM
fsr-3259	194	15	shows	show	VERB
fsr-3259	194	16	similar	similar	ADJ
fsr-3259	194	17	results	result	NOUN
fsr-3259	194	18	reported	report	VERB
fsr-3259	194	19	in	in	ADP
fsr-3259	194	20	prior	prior	ADJ
fsr-3259	194	21	studies	study	NOUN
fsr-3259	194	22	.	.	PUNCT
fsr-3259	195	1	first	first	ADV
fsr-3259	195	2	,	,	PUNCT
fsr-3259	195	3	a	a	DET
fsr-3259	195	4	fund	fund	NOUN
fsr-3259	195	5	’s	’s	PART
fsr-3259	195	6	turnover	turnover	NOUN
fsr-3259	195	7	ratio	ratio	NOUN
fsr-3259	195	8	,	,	PUNCT
fsr-3259	195	9	indicating	indicate	VERB
fsr-3259	195	10	trading	trading	NOUN
fsr-3259	195	11	activity	activity	NOUN
fsr-3259	195	12	,	,	PUNCT
fsr-3259	195	13	is	be	AUX
fsr-3259	195	14	positively	positively	ADV
fsr-3259	195	15	related	relate	VERB
fsr-3259	195	16	to	to	ADP
fsr-3259	195	17	a	a	DET
fsr-3259	195	18	fund	fund	NOUN
fsr-3259	195	19	’s	’s	PART
fsr-3259	195	20	other	other	ADJ
fsr-3259	195	21	expenses	expense	NOUN
fsr-3259	195	22	(	(	PUNCT
fsr-3259	195	23	columns	column	NOUN
fsr-3259	195	24	5	5	NUM
fsr-3259	195	25	and	and	CCONJ
fsr-3259	195	26	6	6	NUM
fsr-3259	195	27	)	)	PUNCT
fsr-3259	195	28	,	,	PUNCT
fsr-3259	195	29	which	which	PRON
fsr-3259	195	30	include	include	VERB
fsr-3259	195	31	administrative	administrative	ADJ
fsr-3259	195	32	fees	fee	NOUN
fsr-3259	195	33	such	such	ADJ
fsr-3259	195	34	as	as	ADP
fsr-3259	195	35	registration	registration	NOUN
fsr-3259	195	36	fees	fee	NOUN
fsr-3259	195	37	on	on	ADP
fsr-3259	195	38	the	the	DET
fsr-3259	195	39	fund	fund	NOUN
fsr-3259	195	40	shares	share	NOUN
fsr-3259	195	41	sold	sell	VERB
fsr-3259	195	42	and	and	CCONJ
fsr-3259	195	43	the	the	DET
fsr-3259	195	44	costs	cost	NOUN
fsr-3259	195	45	of	of	ADP
fsr-3259	195	46	settling	settle	VERB
fsr-3259	195	47	trades	trade	NOUN
fsr-3259	195	48	(	(	PUNCT
fsr-3259	195	49	latzko	latzko	NOUN
fsr-3259	195	50	,	,	PUNCT
fsr-3259	195	51	2003	2003	NUM
fsr-3259	195	52	)	)	PUNCT
fsr-3259	195	53	.	.	PUNCT
fsr-3259	196	1	second	second	ADJ
fsr-3259	196	2	,	,	PUNCT
fsr-3259	196	3	a	a	DET
fsr-3259	196	4	fund	fund	NOUN
fsr-3259	196	5	’s	’s	PART
fsr-3259	196	6	load	load	NOUN
fsr-3259	196	7	is	be	AUX
fsr-3259	196	8	not	not	PART
fsr-3259	196	9	significantly	significantly	ADV
fsr-3259	196	10	related	relate	VERB
fsr-3259	196	11	to	to	ADP
fsr-3259	196	12	a	a	DET
fsr-3259	196	13	fund	fund	NOUN
fsr-3259	196	14	’s	’s	PART
fsr-3259	196	15	operating	operating	NOUN
fsr-3259	196	16	expenses	expense	NOUN
fsr-3259	196	17	.	.	PUNCT
fsr-3259	197	1	this	this	DET
fsr-3259	197	2	result	result	NOUN
fsr-3259	197	3	is	be	AUX
fsr-3259	197	4	consistent	consistent	ADJ
fsr-3259	197	5	with	with	ADP
fsr-3259	197	6	khorana	khorana	PROPN
fsr-3259	197	7	and	and	CCONJ
fsr-3259	197	8	servaes	servaes	NOUN
fsr-3259	197	9	(	(	PUNCT
fsr-3259	197	10	2007	2007	NUM
fsr-3259	197	11	)	)	PUNCT
fsr-3259	197	12	claiming	claim	VERB
fsr-3259	197	13	that	that	SCONJ
fsr-3259	197	14	a	a	DET
fsr-3259	197	15	positive	positive	ADJ
fsr-3259	197	16	relationship	relationship	NOUN
fsr-3259	197	17	between	between	ADP
fsr-3259	197	18	loads	load	NOUN
fsr-3259	197	19	and	and	CCONJ
fsr-3259	197	20	fund	fund	NOUN
fsr-3259	197	21	expenses	expense	NOUN
fsr-3259	197	22	is	be	AUX
fsr-3259	197	23	driven	drive	VERB
fsr-3259	197	24	by	by	ADP
fsr-3259	197	25	12b-1	12b-1	NUM
fsr-3259	197	26	fees	fee	NOUN
fsr-3259	197	27	rather	rather	ADV
fsr-3259	197	28	than	than	ADP
fsr-3259	197	29	by	by	ADP
fsr-3259	197	30	fund	fund	NOUN
fsr-3259	197	31	operating	operating	NOUN
fsr-3259	197	32	expenses	expense	NOUN
fsr-3259	197	33	.	.	PUNCT
fsr-3259	198	1	third	third	ADJ
fsr-3259	198	2	,	,	PUNCT
fsr-3259	198	3	funds	fund	NOUN
fsr-3259	198	4	seeking	seek	VERB
fsr-3259	198	5	gi	gi	INTJ
fsr-3259	198	6	or	or	CCONJ
fsr-3259	198	7	lg	lg	NOUN
fsr-3259	198	8	are	be	AUX
fsr-3259	198	9	likely	likely	ADJ
fsr-3259	198	10	to	to	PART
fsr-3259	198	11	have	have	VERB
fsr-3259	198	12	a	a	DET
fsr-3259	198	13	lower	low	ADJ
fsr-3259	198	14	operating	operate	VERB
fsr-3259	198	15	expense	expense	NOUN
fsr-3259	198	16	ratio	ratio	NOUN
fsr-3259	198	17	than	than	ADP
fsr-3259	198	18	those	those	PRON
fsr-3259	198	19	seeking	seek	VERB
fsr-3259	198	20	ag	ag	PROPN
fsr-3259	198	21	.	.	PUNCT
fsr-3259	199	1	the	the	DET
fsr-3259	199	2	lower	low	ADJ
fsr-3259	199	3	operating	operate	VERB
fsr-3259	199	4	expense	expense	NOUN
fsr-3259	199	5	ratios	ratio	NOUN
fsr-3259	199	6	of	of	ADP
fsr-3259	199	7	gi	gi	NOUN
fsr-3259	199	8	and	and	CCONJ
fsr-3259	199	9	lg	lg	NOUN
fsr-3259	199	10	funds	fund	NOUN
fsr-3259	199	11	result	result	VERB
fsr-3259	199	12	mainly	mainly	ADV
fsr-3259	199	13	from	from	ADP
fsr-3259	199	14	their	their	PRON
fsr-3259	199	15	lower	low	ADJ
fsr-3259	199	16	management	management	NOUN
fsr-3259	199	17	fees	fee	NOUN
fsr-3259	199	18	.	.	PUNCT
fsr-3259	200	1	last	last	ADJ
fsr-3259	200	2	,	,	PUNCT
fsr-3259	200	3	fund	fund	NOUN
fsr-3259	200	4	size	size	NOUN
fsr-3259	200	5	and	and	CCONJ
fsr-3259	200	6	family	family	NOUN
fsr-3259	200	7	size	size	NOUN
fsr-3259	200	8	are	be	AUX
fsr-3259	200	9	significantly	significantly	ADV
fsr-3259	200	10	negatively	negatively	ADV
fsr-3259	200	11	related	relate	VERB
fsr-3259	200	12	to	to	PART
fsr-3259	200	13	fund	fund	VERB
fsr-3259	200	14	operating	operating	NOUN
fsr-3259	200	15	expenses	expense	NOUN
fsr-3259	200	16	,	,	PUNCT
fsr-3259	200	17	the	the	DET
fsr-3259	200	18	negative	negative	ADJ
fsr-3259	200	19	relation	relation	NOUN
fsr-3259	200	20	that	that	PRON
fsr-3259	200	21	indicate	indicate	VERB
fsr-3259	200	22	economies	economy	NOUN
fsr-3259	200	23	of	of	ADP
fsr-3259	200	24	scale	scale	NOUN
fsr-3259	200	25	at	at	ADP
fsr-3259	200	26	fund	fund	NOUN
fsr-3259	200	27	and	and	CCONJ
fsr-3259	200	28	family	family	NOUN
fsr-3259	200	29	levels	level	NOUN
fsr-3259	200	30	,	,	PUNCT
fsr-3259	200	31	respectively	respectively	ADV
fsr-3259	200	32	(	(	PUNCT
fsr-3259	200	33	e.g.	e.g.	ADV
fsr-3259	200	34	,	,	PUNCT
fsr-3259	200	35	dowen	dowen	NOUN
fsr-3259	200	36	and	and	CCONJ
fsr-3259	200	37	mann	mann	PROPN
fsr-3259	200	38	,	,	PUNCT
fsr-3259	200	39	2004	2004	NUM
fsr-3259	200	40	;	;	PUNCT
fsr-3259	200	41	latzko	latzko	PROPN
fsr-3259	200	42	,	,	PUNCT
fsr-3259	200	43	1999	1999	NUM
fsr-3259	200	44	)	)	PUNCT
fsr-3259	200	45	.	.	PUNCT
fsr-3259	201	1	in	in	ADP
fsr-3259	201	2	particular	particular	ADJ
fsr-3259	201	3	,	,	PUNCT
fsr-3259	201	4	consistent	consistent	ADJ
fsr-3259	201	5	with	with	ADP
fsr-3259	201	6	elton	elton	PROPN
fsr-3259	201	7	,	,	PUNCT
fsr-3259	201	8	gruber	gruber	PROPN
fsr-3259	201	9	,	,	PUNCT
fsr-3259	201	10	and	and	CCONJ
fsr-3259	201	11	blake	blake	NOUN
fsr-3259	201	12	(	(	PUNCT
fsr-3259	201	13	2012	2012	NUM
fsr-3259	201	14	)	)	PUNCT
fsr-3259	201	15	,	,	PUNCT
fsr-3259	201	16	we	we	PRON
fsr-3259	201	17	find	find	VERB
fsr-3259	201	18	that	that	SCONJ
fsr-3259	201	19	a	a	DET
fsr-3259	201	20	negative	negative	ADJ
fsr-3259	201	21	relationship	relationship	NOUN
fsr-3259	201	22	of	of	ADP
fsr-3259	201	23	other	other	ADJ
fsr-3259	201	24	expenses	expense	NOUN
fsr-3259	201	25	and	and	CCONJ
fsr-3259	201	26	fund	fund	NOUN
fsr-3259	201	27	size	size	NOUN
fsr-3259	201	28	is	be	AUX
fsr-3259	201	29	stronger	strong	ADJ
fsr-3259	201	30	than	than	ADP
fsr-3259	201	31	a	a	DET
fsr-3259	201	32	negative	negative	ADJ
fsr-3259	201	33	relationship	relationship	NOUN
fsr-3259	201	34	of	of	ADP
fsr-3259	201	35	management	management	NOUN
fsr-3259	201	36	fee	fee	NOUN
fsr-3259	201	37	and	and	CCONJ
fsr-3259	201	38	fund	fund	NOUN
fsr-3259	201	39	size	size	NOUN
fsr-3259	201	40	.	.	PUNCT
fsr-3259	202	1	in	in	ADP
fsr-3259	202	2	summary	summary	NOUN
fsr-3259	202	3	,	,	PUNCT
fsr-3259	202	4	the	the	DET
fsr-3259	202	5	regression	regression	NOUN
fsr-3259	202	6	results	result	VERB
fsr-3259	202	7	in	in	ADP
fsr-3259	202	8	table	table	NOUN
fsr-3259	202	9	3	3	NUM
fsr-3259	202	10	indicate	indicate	VERB
fsr-3259	202	11	that	that	SCONJ
fsr-3259	202	12	a	a	DET
fsr-3259	202	13	fund	fund	NOUN
fsr-3259	202	14	’s	’s	PART
fsr-3259	202	15	operating	operate	VERB
fsr-3259	202	16	expense	expense	NOUN
fsr-3259	202	17	ratio	ratio	NOUN
fsr-3259	202	18	can	can	AUX
fsr-3259	202	19	be	be	AUX
fsr-3259	202	20	reduced	reduce	VERB
fsr-3259	202	21	by	by	ADP
fsr-3259	202	22	an	an	DET
fsr-3259	202	23	increase	increase	NOUN
fsr-3259	202	24	in	in	ADP
fsr-3259	202	25	common	common	ADJ
fsr-3259	202	26	stock	stock	NOUN
fsr-3259	202	27	holdings	holding	NOUN
fsr-3259	202	28	or	or	CCONJ
fsr-3259	202	29	by	by	ADP
fsr-3259	202	30	multi	multi	ADJ
fsr-3259	202	31	-	-	ADJ
fsr-3259	202	32	fund	fund	ADJ
fsr-3259	202	33	management.10	management.10	NOUN
fsr-3259	202	34	the	the	DET
fsr-3259	202	35	influences	influence	NOUN
fsr-3259	202	36	of	of	ADP
fsr-3259	202	37	the	the	DET
fsr-3259	202	38	two	two	NUM
fsr-3259	202	39	commonalities	commonality	NOUN
fsr-3259	202	40	on	on	ADP
fsr-3259	202	41	a	a	DET
fsr-3259	202	42	fund	fund	NOUN
fsr-3259	202	43	’s	’s	PART
fsr-3259	202	44	operating	operate	VERB
fsr-3259	202	45	expense	expense	NOUN
fsr-3259	202	46	ratio	ratio	NOUN
fsr-3259	202	47	,	,	PUNCT
fsr-3259	202	48	however	however	ADV
fsr-3259	202	49	,	,	PUNCT
fsr-3259	202	50	occur	occur	VERB
fsr-3259	202	51	through	through	ADP
fsr-3259	202	52	different	different	ADJ
fsr-3259	202	53	channels	channel	NOUN
fsr-3259	202	54	:	:	PUNCT
fsr-3259	202	55	common	common	ADJ
fsr-3259	202	56	stock	stock	NOUN
fsr-3259	202	57	holdings	holding	NOUN
fsr-3259	202	58	reduce	reduce	VERB
fsr-3259	202	59	a	a	DET
fsr-3259	202	60	fund	fund	NOUN
fsr-3259	202	61	’s	’s	PART
fsr-3259	202	62	management	management	NOUN
fsr-3259	202	63	fee	fee	NOUN
fsr-3259	202	64	while	while	SCONJ
fsr-3259	202	65	multi	multi	ADJ
fsr-3259	202	66	-	-	ADJ
fsr-3259	202	67	fund	fund	ADJ
fsr-3259	202	68	management	management	NOUN
fsr-3259	202	69	lowers	lower	VERB
fsr-3259	202	70	a	a	DET
fsr-3259	202	71	fund	fund	NOUN
fsr-3259	202	72	’s	’s	PART
fsr-3259	202	73	other	other	ADJ
fsr-3259	202	74	expenses	expense	NOUN
fsr-3259	202	75	.	.	PUNCT
fsr-3259	203	1	5.2.2	5.2.2	NUM
fsr-3259	203	2	.	.	PUNCT
fsr-3259	203	3	effects	effect	NOUN
fsr-3259	203	4	of	of	ADP
fsr-3259	203	5	fund	fund	NOUN
fsr-3259	203	6	commonalities	commonality	NOUN
fsr-3259	203	7	on	on	ADP
fsr-3259	203	8	return	return	VERB
fsr-3259	203	9	residual	residual	ADJ
fsr-3259	203	10	correlations	correlation	NOUN
fsr-3259	203	11	next	next	ADV
fsr-3259	203	12	,	,	PUNCT
fsr-3259	203	13	we	we	PRON
fsr-3259	203	14	examine	examine	VERB
fsr-3259	203	15	whether	whether	SCONJ
fsr-3259	203	16	common	common	ADJ
fsr-3259	203	17	stock	stock	NOUN
fsr-3259	203	18	holdings	holding	NOUN
fsr-3259	203	19	and	and	CCONJ
fsr-3259	203	20	multi	multi	ADJ
fsr-3259	203	21	-	-	ADJ
fsr-3259	203	22	fund	fund	ADJ
fsr-3259	203	23	management	management	NOUN
fsr-3259	203	24	affect	affect	VERB
fsr-3259	203	25	the	the	DET
fsr-3259	203	26	correlation	correlation	NOUN
fsr-3259	203	27	of	of	ADP
fsr-3259	203	28	fund	fund	NOUN
fsr-3259	203	29	returns	return	NOUN
fsr-3259	203	30	within	within	ADP
fsr-3259	203	31	families	family	NOUN
fsr-3259	203	32	.	.	PUNCT
fsr-3259	204	1	for	for	ADP
fsr-3259	204	2	doing	do	VERB
fsr-3259	204	3	this	this	PRON
fsr-3259	204	4	,	,	PUNCT
fsr-3259	204	5	we	we	PRON
fsr-3259	204	6	focus	focus	VERB
fsr-3259	204	7	on	on	ADP
fsr-3259	204	8	the	the	DET
fsr-3259	204	9	correlation	correlation	NOUN
fsr-3259	204	10	of	of	ADP
fsr-3259	204	11	return	return	NOUN
fsr-3259	204	12	residuals	residual	NOUN
fsr-3259	204	13	,	,	PUNCT
fsr-3259	204	14	which	which	PRON
fsr-3259	204	15	is	be	AUX
fsr-3259	204	16	a	a	DET
fsr-3259	204	17	component	component	NOUN
fsr-3259	204	18	of	of	ADP
fsr-3259	204	19	the	the	DET
fsr-3259	204	20	correlation	correlation	NOUN
fsr-3259	204	21	of	of	ADP
fsr-3259	204	22	fund	fund	NOUN
fsr-3259	204	23	returns	return	NOUN
fsr-3259	204	24	(	(	PUNCT
fsr-3259	204	25	eq	eq	NOUN
fsr-3259	204	26	.	.	PROPN
fsr-3259	204	27	6	6	NUM
fsr-3259	204	28	)	)	PUNCT
fsr-3259	204	29	.	.	PUNCT
fsr-3259	205	1	panel	panel	NOUN
fsr-3259	205	2	a	a	DET
fsr-3259	205	3	of	of	ADP
fsr-3259	205	4	table	table	NOUN
fsr-3259	205	5	4	4	NUM
fsr-3259	205	6	presents	present	NOUN
fsr-3259	205	7	summary	summary	NOUN
fsr-3259	205	8	statistics	statistic	NOUN
fsr-3259	205	9	for	for	ADP
fsr-3259	205	10	pairs	pair	NOUN
fsr-3259	205	11	of	of	ADP
fsr-3259	205	12	funds	fund	NOUN
fsr-3259	205	13	that	that	PRON
fsr-3259	205	14	have	have	VERB
fsr-3259	205	15	different	different	ADJ
fsr-3259	205	16	investment	investment	NOUN
fsr-3259	205	17	objectives	objective	NOUN
fsr-3259	205	18	,	,	PUNCT
fsr-3259	205	19	such	such	ADJ
fsr-3259	205	20	as	as	ADP
fsr-3259	205	21	ag	ag	PROPN
fsr-3259	205	22	-	-	PUNCT
fsr-3259	205	23	gi	gi	PROPN
fsr-3259	205	24	,	,	PUNCT
fsr-3259	205	25	ag	ag	PROPN
fsr-3259	205	26	-	-	PROPN
fsr-3259	205	27	lg	lg	NOUN
fsr-3259	205	28	,	,	PUNCT
fsr-3259	205	29	and	and	CCONJ
fsr-3259	205	30	gi	gi	NOUN
fsr-3259	205	31	-	-	PUNCT
fsr-3259	205	32	lg	lg	NOUN
fsr-3259	205	33	.	.	PROPN
fsr-3259	205	34	in	in	ADP
fsr-3259	205	35	particular	particular	ADJ
fsr-3259	205	36	,	,	PUNCT
fsr-3259	205	37	gi	gi	ADJ
fsr-3259	205	38	-	-	PUNCT
fsr-3259	205	39	lg	lg	NOUN
fsr-3259	205	40	funds	fund	NOUN
fsr-3259	205	41	have	have	AUX
fsr-3259	205	42	,	,	PUNCT
fsr-3259	205	43	on	on	ADP
fsr-3259	205	44	average	average	ADJ
fsr-3259	205	45	,	,	PUNCT
fsr-3259	205	46	a	a	DET
fsr-3259	205	47	higher	high	ADJ
fsr-3259	205	48	return	return	NOUN
fsr-3259	205	49	correlation	correlation	NOUN
fsr-3259	205	50	but	but	CCONJ
fsr-3259	205	51	a	a	DET
fsr-3259	205	52	lower	low	ADJ
fsr-3259	205	53	return	return	NOUN
fsr-3259	205	54	residual	residual	ADJ
fsr-3259	205	55	correlation	correlation	NOUN
fsr-3259	205	56	than	than	ADP
fsr-3259	205	57	the	the	DET
fsr-3259	205	58	other	other	ADJ
fsr-3259	205	59	pairs	pair	NOUN
fsr-3259	205	60	of	of	ADP
fsr-3259	205	61	funds	fund	NOUN
fsr-3259	205	62	.	.	PUNCT
fsr-3259	206	1	the	the	DET
fsr-3259	206	2	higher	high	ADJ
fsr-3259	206	3	return	return	NOUN
fsr-3259	206	4	correlations	correlation	NOUN
fsr-3259	206	5	between	between	ADP
fsr-3259	206	6	gi	gi	NOUN
fsr-3259	206	7	and	and	CCONJ
fsr-3259	206	8	lg	lg	NOUN
fsr-3259	206	9	funds	fund	NOUN
fsr-3259	206	10	may	may	AUX
fsr-3259	206	11	result	result	VERB
fsr-3259	206	12	from	from	ADP
fsr-3259	206	13	their	their	PRON
fsr-3259	206	14	similar	similar	ADJ
fsr-3259	206	15	investment	investment	NOUN
fsr-3259	206	16	objectives	objective	NOUN
fsr-3259	206	17	(	(	PUNCT
fsr-3259	206	18	gi	gi	INTJ
fsr-3259	206	19	vs.	vs.	X
fsr-3259	206	20	lg	lg	NOUN
fsr-3259	206	21	)	)	PUNCT
fsr-3259	206	22	,	,	PUNCT
fsr-3259	206	23	while	while	SCONJ
fsr-3259	206	24	the	the	DET
fsr-3259	206	25	lower	low	ADJ
fsr-3259	206	26	return	return	VERB
fsr-3259	206	27	residual	residual	ADJ
fsr-3259	206	28	correlations	correlation	NOUN
fsr-3259	206	29	may	may	AUX
fsr-3259	206	30	be	be	AUX
fsr-3259	206	31	caused	cause	VERB
fsr-3259	206	32	by	by	ADP
fsr-3259	206	33	a	a	DET
fsr-3259	206	34	lower	low	ADJ
fsr-3259	206	35	level	level	NOUN
fsr-3259	206	36	of	of	ADP
fsr-3259	206	37	nonsystematic	nonsystematic	ADJ
fsr-3259	206	38	commonality	commonality	NOUN
fsr-3259	206	39	between	between	ADP
fsr-3259	206	40	the	the	DET
fsr-3259	206	41	funds	fund	NOUN
fsr-3259	206	42	.	.	PUNCT
fsr-3259	207	1	panel	panel	NOUN
fsr-3259	207	2	b	b	PROPN
fsr-3259	207	3	of	of	ADP
fsr-3259	207	4	table	table	NOUN
fsr-3259	207	5	4	4	NUM
fsr-3259	207	6	presents	present	NOUN
fsr-3259	207	7	regression	regression	NOUN
fsr-3259	207	8	results	result	NOUN
fsr-3259	207	9	of	of	ADP
fsr-3259	207	10	return	return	VERB
fsr-3259	207	11	residual	residual	ADJ
fsr-3259	207	12	correlations	correlation	NOUN
fsr-3259	207	13	,	,	PUNCT
fsr-3259	207	14	which	which	PRON
fsr-3259	207	15	are	be	AUX
fsr-3259	207	16	obtained	obtain	VERB
fsr-3259	207	17	after	after	ADP
fsr-3259	207	18	estimating	estimate	VERB
fsr-3259	207	19	the	the	DET
fsr-3259	207	20	carhart	carhart	NOUN
fsr-3259	207	21	four	four	NUM
fsr-3259	207	22	-	-	PUNCT
fsr-3259	207	23	factor	factor	NOUN
fsr-3259	207	24	model	model	NOUN
fsr-3259	207	25	(	(	PUNCT
fsr-3259	207	26	eq	eq	NOUN
fsr-3259	207	27	.	.	PROPN
fsr-3259	207	28	7	7	NUM
fsr-3259	207	29	)	)	PUNCT
fsr-3259	207	30	.	.	PUNCT
fsr-3259	208	1	first	first	ADV
fsr-3259	208	2	,	,	PUNCT
fsr-3259	208	3	results	result	NOUN
fsr-3259	208	4	in	in	ADP
fsr-3259	208	5	columns	column	NOUN
fsr-3259	208	6	(	(	PUNCT
fsr-3259	208	7	1	1	NUM
fsr-3259	208	8	)	)	PUNCT
fsr-3259	208	9	and	and	CCONJ
fsr-3259	208	10	(	(	PUNCT
fsr-3259	208	11	2	2	X
fsr-3259	208	12	)	)	PUNCT
fsr-3259	208	13	show	show	VERB
fsr-3259	208	14	that	that	SCONJ
fsr-3259	208	15	average	average	ADJ
fsr-3259	208	16	common	common	ADJ
fsr-3259	208	17	stock	stock	NOUN
fsr-3259	208	18	holding	holding	NOUN
fsr-3259	208	19	(	(	PUNCT
fsr-3259	208	20	amatchh	amatchh	NOUN
fsr-3259	208	21	)	)	PUNCT
fsr-3259	208	22	and	and	CCONJ
fsr-3259	208	23	multi	multi	ADJ
fsr-3259	208	24	-	-	ADJ
fsr-3259	208	25	fund	fund	ADJ
fsr-3259	208	26	management	management	NOUN
fsr-3259	208	27	(	(	PUNCT
fsr-3259	208	28	amatchm	amatchm	PROPN
fsr-3259	208	29	)	)	PUNCT
fsr-3259	208	30	are	be	AUX
fsr-3259	208	31	significantly	significantly	ADV
fsr-3259	208	32	positively	positively	ADV
fsr-3259	208	33	related	relate	VERB
fsr-3259	208	34	to	to	ADP
fsr-3259	208	35	the	the	DET
fsr-3259	208	36	correlation	correlation	NOUN
fsr-3259	208	37	of	of	ADP
fsr-3259	208	38	return	return	NOUN
fsr-3259	208	39	residuals	residual	NOUN
fsr-3259	208	40	,	,	PUNCT
fsr-3259	208	41	supporting	support	VERB
fsr-3259	208	42	hypotheses	hypothesis	NOUN
fsr-3259	208	43	h2	h2	NOUN
fsr-3259	208	44	-	-	PUNCT
fsr-3259	208	45	a	a	NOUN
fsr-3259	208	46	and	and	CCONJ
fsr-3259	208	47	h2	h2	NOUN
fsr-3259	208	48	-	-	PUNCT
fsr-3259	208	49	b	b	NOUN
fsr-3259	208	50	,	,	PUNCT
fsr-3259	208	51	respectively	respectively	ADV
fsr-3259	208	52	.	.	PUNCT
fsr-3259	209	1	for	for	ADP
fsr-3259	209	2	example	example	NOUN
fsr-3259	209	3	,	,	PUNCT
fsr-3259	209	4	a	a	DET
fsr-3259	209	5	10	10	NUM
fsr-3259	209	6	%	%	NOUN
fsr-3259	209	7	increase	increase	NOUN
fsr-3259	209	8	in	in	ADP
fsr-3259	209	9	common	common	ADJ
fsr-3259	209	10	stock	stock	NOUN
fsr-3259	209	11	40	40	NUM
fsr-3259	209	12	y.	y.	PROPN
fsr-3259	209	13	park	park	PROPN
fsr-3259	209	14	/	/	SYM
fsr-3259	209	15	financial	financial	ADJ
fsr-3259	209	16	services	service	NOUN
fsr-3259	209	17	review	review	VERB
fsr-3259	209	18	25	25	NUM
fsr-3259	209	19	(	(	PUNCT
fsr-3259	209	20	2016	2016	NUM
fsr-3259	209	21	)	)	PUNCT
fsr-3259	209	22	29–49	29–49	NUM
fsr-3259	209	23	table	table	NOUN
fsr-3259	209	24	4	4	NUM
fsr-3259	209	25	effects	effect	NOUN
fsr-3259	209	26	of	of	ADP
fsr-3259	209	27	fund	fund	NOUN
fsr-3259	209	28	commonalities	commonality	NOUN
fsr-3259	209	29	on	on	ADP
fsr-3259	209	30	return	return	VERB
fsr-3259	209	31	residual	residual	ADJ
fsr-3259	209	32	correlation	correlation	NOUN
fsr-3259	209	33	panel	panel	NOUN
fsr-3259	209	34	a	a	DET
fsr-3259	209	35	:	:	PUNCT
fsr-3259	209	36	summary	summary	NOUN
fsr-3259	209	37	statistics	statistic	NOUN
fsr-3259	209	38	of	of	ADP
fsr-3259	209	39	pairs	pair	NOUN
fsr-3259	209	40	of	of	ADP
fsr-3259	209	41	funds	fund	NOUN
fsr-3259	209	42	within	within	ADP
fsr-3259	209	43	families	family	NOUN
fsr-3259	209	44	observation	observation	NOUN
fsr-3259	209	45	mean	mean	VERB
fsr-3259	209	46	standard	standard	ADJ
fsr-3259	209	47	deviation	deviation	NOUN
fsr-3259	209	48	min	min	PROPN
fsr-3259	209	49	max	max	PROPN
fsr-3259	209	50	return	return	PROPN
fsr-3259	209	51	correlation	correlation	NOUN
fsr-3259	209	52	:	:	PUNCT
fsr-3259	209	53	256	256	NUM
fsr-3259	209	54	0.82	0.82	NUM
fsr-3259	209	55	0.18	0.18	NUM
fsr-3259	209	56	�	�	PROPN
fsr-3259	209	57	0.15	0.15	NUM
fsr-3259	209	58	0.98	0.98	NUM
fsr-3259	209	59	between	between	ADP
fsr-3259	209	60	ag	ag	PROPN
fsr-3259	209	61	and	and	CCONJ
fsr-3259	209	62	gi	gi	NOUN
fsr-3259	209	63	funds	fund	NOUN
fsr-3259	209	64	(	(	PUNCT
fsr-3259	209	65	ag	ag	PROPN
fsr-3259	209	66	-	-	PUNCT
fsr-3259	209	67	gi	gi	NOUN
fsr-3259	209	68	)	)	PUNCT
fsr-3259	209	69	38	38	NUM
fsr-3259	209	70	0.76	0.76	NUM
fsr-3259	209	71	0.23	0.23	NUM
fsr-3259	209	72	�	�	PROPN
fsr-3259	209	73	0.15	0.15	NUM
fsr-3259	209	74	0.91	0.91	NUM
fsr-3259	209	75	between	between	ADP
fsr-3259	209	76	ag	ag	PROPN
fsr-3259	209	77	and	and	CCONJ
fsr-3259	209	78	lg	lg	PROPN
fsr-3259	209	79	funds	fund	NOUN
fsr-3259	209	80	(	(	PUNCT
fsr-3259	209	81	ag	ag	PROPN
fsr-3259	209	82	-	-	PROPN
fsr-3259	209	83	lg	lg	NOUN
fsr-3259	209	84	)	)	PUNCT
fsr-3259	209	85	100	100	NUM
fsr-3259	209	86	0.80	0.80	NUM
fsr-3259	209	87	0.16	0.16	NUM
fsr-3259	209	88	�	�	PROPN
fsr-3259	209	89	0.03	0.03	NUM
fsr-3259	209	90	0.98	0.98	NUM
fsr-3259	209	91	between	between	ADP
fsr-3259	209	92	gi	gi	NOUN
fsr-3259	209	93	and	and	CCONJ
fsr-3259	209	94	lg	lg	NOUN
fsr-3259	209	95	funds	fund	NOUN
fsr-3259	209	96	(	(	PUNCT
fsr-3259	209	97	gi	gi	NOUN
fsr-3259	209	98	-	-	PUNCT
fsr-3259	209	99	lg	lg	NOUN
fsr-3259	209	100	)	)	PUNCT
fsr-3259	209	101	118	118	NUM
fsr-3259	209	102	0.84	0.84	NUM
fsr-3259	209	103	0.17	0.17	NUM
fsr-3259	209	104	�	�	PROPN
fsr-3259	209	105	0.07	0.07	NUM
fsr-3259	209	106	0.98	0.98	NUM
fsr-3259	209	107	return	return	NOUN
fsr-3259	209	108	residual	residual	ADJ
fsr-3259	209	109	correlation	correlation	NOUN
fsr-3259	209	110	:	:	PUNCT
fsr-3259	209	111	256	256	NUM
fsr-3259	209	112	0.16	0.16	NUM
fsr-3259	209	113	0.25	0.25	NUM
fsr-3259	209	114	�	�	NOUN
fsr-3259	209	115	0.66	0.66	NUM
fsr-3259	209	116	0.87	0.87	NUM
fsr-3259	209	117	between	between	ADP
fsr-3259	209	118	ag	ag	PROPN
fsr-3259	209	119	and	and	CCONJ
fsr-3259	209	120	gi	gi	NOUN
fsr-3259	209	121	funds	fund	NOUN
fsr-3259	209	122	(	(	PUNCT
fsr-3259	209	123	ag	ag	PROPN
fsr-3259	209	124	-	-	PUNCT
fsr-3259	209	125	gi	gi	NOUN
fsr-3259	209	126	)	)	PUNCT
fsr-3259	209	127	38	38	NUM
fsr-3259	209	128	0.17	0.17	NUM
fsr-3259	209	129	0.25	0.25	NUM
fsr-3259	209	130	�	�	NOUN
fsr-3259	209	131	0.31	0.31	NUM
fsr-3259	209	132	0.69	0.69	NUM
fsr-3259	209	133	between	between	ADP
fsr-3259	209	134	ag	ag	PROPN
fsr-3259	209	135	and	and	CCONJ
fsr-3259	209	136	lg	lg	PROPN
fsr-3259	209	137	funds	fund	NOUN
fsr-3259	209	138	(	(	PUNCT
fsr-3259	209	139	ag	ag	PROPN
fsr-3259	209	140	-	-	PROPN
fsr-3259	209	141	lg	lg	NOUN
fsr-3259	209	142	)	)	PUNCT
fsr-3259	209	143	100	100	NUM
fsr-3259	209	144	0.21	0.21	NUM
fsr-3259	209	145	0.24	0.24	NUM
fsr-3259	209	146	�	�	PROPN
fsr-3259	209	147	0.39	0.39	NUM
fsr-3259	209	148	0.87	0.87	NUM
fsr-3259	209	149	between	between	ADP
fsr-3259	209	150	gi	gi	PROPN
fsr-3259	209	151	and	and	CCONJ
fsr-3259	209	152	lg	lg	NOUN
fsr-3259	209	153	funds	fund	NOUN
fsr-3259	209	154	(	(	PUNCT
fsr-3259	209	155	gi	gi	NOUN
fsr-3259	209	156	-	-	PUNCT
fsr-3259	209	157	lg	lg	NOUN
fsr-3259	209	158	)	)	PUNCT
fsr-3259	209	159	118	118	NUM
fsr-3259	209	160	0.11	0.11	NUM
fsr-3259	209	161	0.24	0.24	NUM
fsr-3259	209	162	�	�	NOUN
fsr-3259	209	163	0.66	0.66	NUM
fsr-3259	209	164	0.58	0.58	NUM
fsr-3259	209	165	average	average	ADJ
fsr-3259	209	166	common	common	ADJ
fsr-3259	209	167	stock	stock	NOUN
fsr-3259	209	168	holding	hold	VERB
fsr-3259	209	169	256	256	NUM
fsr-3259	209	170	0.18	0.18	NUM
fsr-3259	209	171	0.16	0.16	NUM
fsr-3259	209	172	0.00	0.00	NUM
fsr-3259	209	173	0.79	0.79	NUM
fsr-3259	209	174	multi	multi	ADJ
fsr-3259	209	175	-	-	ADJ
fsr-3259	209	176	fund	fund	ADJ
fsr-3259	209	177	management	management	NOUN
fsr-3259	209	178	for	for	ADP
fsr-3259	209	179	the	the	DET
fsr-3259	209	180	period	period	NOUN
fsr-3259	209	181	(	(	PUNCT
fsr-3259	209	182	yes	yes	INTJ
fsr-3259	209	183	�	�	PROPN
fsr-3259	209	184	1	1	NUM
fsr-3259	209	185	)	)	PUNCT
fsr-3259	209	186	256	256	NUM
fsr-3259	209	187	0.17	0.17	NUM
fsr-3259	209	188	0.37	0.37	NUM
fsr-3259	209	189	0.00	0.00	NUM
fsr-3259	209	190	1.00	1.00	NUM
fsr-3259	209	191	family	family	NOUN
fsr-3259	209	192	size	size	NOUN
fsr-3259	209	193	(	(	PUNCT
fsr-3259	209	194	$	$	SYM
fsr-3259	209	195	billion	billion	NUM
fsr-3259	209	196	)	)	PUNCT
fsr-3259	209	197	46	46	NUM
fsr-3259	209	198	52.11	52.11	NUM
fsr-3259	209	199	153.54	153.54	NUM
fsr-3259	209	200	0.33	0.33	NUM
fsr-3259	209	201	872.43	872.43	NUM
fsr-3259	209	202	total	total	ADJ
fsr-3259	209	203	number	number	NOUN
fsr-3259	209	204	of	of	ADP
fsr-3259	209	205	funds	fund	NOUN
fsr-3259	209	206	offered	offer	VERB
fsr-3259	209	207	by	by	ADP
fsr-3259	209	208	a	a	DET
fsr-3259	209	209	family	family	NOUN
fsr-3259	209	210	(	(	PUNCT
fsr-3259	209	211	tnfo	tnfo	PROPN
fsr-3259	209	212	)	)	PUNCT
fsr-3259	209	213	46	46	NUM
fsr-3259	209	214	3.83	3.83	NUM
fsr-3259	209	215	3.95	3.95	NUM
fsr-3259	209	216	2.00	2.00	NUM
fsr-3259	209	217	27.00	27.00	NUM
fsr-3259	209	218	notes	note	NOUN
fsr-3259	209	219	:	:	PUNCT
fsr-3259	209	220	ag	ag	PROPN
fsr-3259	209	221	,	,	PUNCT
fsr-3259	209	222	gi	gi	NOUN
fsr-3259	209	223	,	,	PUNCT
fsr-3259	209	224	and	and	CCONJ
fsr-3259	209	225	lg	lg	NOUN
fsr-3259	209	226	indicate	indicate	VERB
fsr-3259	209	227	fund	fund	NOUN
fsr-3259	209	228	investment	investment	NOUN
fsr-3259	209	229	objectives	objective	NOUN
fsr-3259	209	230	of	of	ADP
fsr-3259	209	231	aggressive	aggressive	ADJ
fsr-3259	209	232	growth	growth	NOUN
fsr-3259	209	233	,	,	PUNCT
fsr-3259	209	234	growth	growth	NOUN
fsr-3259	209	235	and	and	CCONJ
fsr-3259	209	236	income	income	NOUN
fsr-3259	209	237	,	,	PUNCT
fsr-3259	209	238	and	and	CCONJ
fsr-3259	209	239	long	long	ADJ
fsr-3259	209	240	-	-	PUNCT
fsr-3259	209	241	term	term	NOUN
fsr-3259	209	242	growth	growth	NOUN
fsr-3259	209	243	,	,	PUNCT
fsr-3259	209	244	respectively	respectively	ADV
fsr-3259	209	245	.	.	PUNCT
fsr-3259	210	1	average	average	ADJ
fsr-3259	210	2	common	common	ADJ
fsr-3259	210	3	stock	stock	NOUN
fsr-3259	210	4	holding	holding	NOUN
fsr-3259	210	5	indicates	indicate	VERB
fsr-3259	210	6	the	the	DET
fsr-3259	210	7	average	average	NOUN
fsr-3259	210	8	of	of	ADP
fsr-3259	210	9	the	the	DET
fsr-3259	210	10	common	common	ADJ
fsr-3259	210	11	stock	stock	NOUN
fsr-3259	210	12	holdings	holding	NOUN
fsr-3259	210	13	between	between	ADP
fsr-3259	210	14	funds	fund	NOUN
fsr-3259	210	15	for	for	ADP
fsr-3259	210	16	the	the	DET
fsr-3259	210	17	period	period	NOUN
fsr-3259	210	18	of	of	ADP
fsr-3259	210	19	2001	2001	NUM
fsr-3259	210	20	to	to	ADP
fsr-3259	210	21	2006	2006	NUM
fsr-3259	210	22	.	.	PUNCT
fsr-3259	211	1	tnfo	tnfo	NOUN
fsr-3259	211	2	indicates	indicate	VERB
fsr-3259	211	3	the	the	DET
fsr-3259	211	4	total	total	ADJ
fsr-3259	211	5	number	number	NOUN
fsr-3259	211	6	of	of	ADP
fsr-3259	211	7	funds	fund	NOUN
fsr-3259	211	8	having	have	VERB
fsr-3259	211	9	distinct	distinct	ADJ
fsr-3259	211	10	portfolios	portfolio	NOUN
fsr-3259	211	11	that	that	PRON
fsr-3259	211	12	are	be	AUX
fsr-3259	211	13	offered	offer	VERB
fsr-3259	211	14	in	in	ADP
fsr-3259	211	15	ag	ag	PROPN
fsr-3259	211	16	,	,	PUNCT
fsr-3259	211	17	gi	gi	NOUN
fsr-3259	211	18	,	,	PUNCT
fsr-3259	211	19	and	and	CCONJ
fsr-3259	211	20	lg	lg	NOUN
fsr-3259	211	21	investment	investment	NOUN
fsr-3259	211	22	objectives	objective	NOUN
fsr-3259	211	23	by	by	ADP
fsr-3259	211	24	a	a	DET
fsr-3259	211	25	family	family	NOUN
fsr-3259	211	26	over	over	ADP
fsr-3259	211	27	the	the	DET
fsr-3259	211	28	period	period	NOUN
fsr-3259	211	29	.	.	PUNCT
fsr-3259	212	1	panel	panel	NOUN
fsr-3259	212	2	b	b	X
fsr-3259	212	3	:	:	PUNCT
fsr-3259	212	4	regression	regression	NOUN
fsr-3259	212	5	results	result	NOUN
fsr-3259	212	6	of	of	ADP
fsr-3259	212	7	return	return	VERB
fsr-3259	212	8	residual	residual	ADJ
fsr-3259	212	9	correlation	correlation	NOUN
fsr-3259	212	10	(	(	PUNCT
fsr-3259	212	11	1	1	NUM
fsr-3259	212	12	)	)	PUNCT
fsr-3259	212	13	(	(	PUNCT
fsr-3259	212	14	2	2	NUM
fsr-3259	212	15	)	)	PUNCT
fsr-3259	212	16	(	(	PUNCT
fsr-3259	212	17	3	3	X
fsr-3259	212	18	)	)	PUNCT
fsr-3259	212	19	(	(	PUNCT
fsr-3259	212	20	4	4	NUM
fsr-3259	212	21	)	)	PUNCT
fsr-3259	212	22	(	(	PUNCT
fsr-3259	212	23	5	5	NUM
fsr-3259	212	24	)	)	PUNCT
fsr-3259	212	25	(	(	PUNCT
fsr-3259	212	26	6	6	NUM
fsr-3259	212	27	)	)	PUNCT
fsr-3259	212	28	average	average	ADJ
fsr-3259	212	29	common	common	ADJ
fsr-3259	212	30	stock	stock	NOUN
fsr-3259	212	31	holding	holding	NOUN
fsr-3259	212	32	(	(	PUNCT
fsr-3259	212	33	amatchh	amatchh	NOUN
fsr-3259	212	34	)	)	PUNCT
fsr-3259	212	35	0.695	0.695	NUM
fsr-3259	212	36	*	*	PUNCT
fsr-3259	212	37	*	*	PUNCT
fsr-3259	212	38	0.767	0.767	NUM
fsr-3259	212	39	*	*	PUNCT
fsr-3259	212	40	*	*	PUNCT
fsr-3259	212	41	0.778	0.778	NUM
fsr-3259	212	42	*	*	NOUN
fsr-3259	212	43	*	*	PUNCT
fsr-3259	212	44	0.789	0.789	NUM
fsr-3259	212	45	*	*	PUNCT
fsr-3259	212	46	*	*	NOUN
fsr-3259	212	47	0.706	0.706	NUM
fsr-3259	212	48	*	*	PUNCT
fsr-3259	212	49	*	*	PUNCT
fsr-3259	212	50	0.775	0.775	NUM
fsr-3259	212	51	*	*	NOUN
fsr-3259	212	52	*	*	PUNCT
fsr-3259	212	53	(	(	PUNCT
fsr-3259	212	54	0.090	0.090	NUM
fsr-3259	212	55	)	)	PUNCT
fsr-3259	212	56	(	(	PUNCT
fsr-3259	212	57	0.118	0.118	NUM
fsr-3259	212	58	)	)	PUNCT
fsr-3259	212	59	(	(	PUNCT
fsr-3259	212	60	0.114	0.114	NUM
fsr-3259	212	61	)	)	PUNCT
fsr-3259	212	62	(	(	PUNCT
fsr-3259	212	63	0.141	0.141	NUM
fsr-3259	212	64	)	)	PUNCT
fsr-3259	212	65	(	(	PUNCT
fsr-3259	212	66	0.091	0.091	NUM
fsr-3259	212	67	)	)	PUNCT
fsr-3259	212	68	(	(	PUNCT
fsr-3259	212	69	0.117	0.117	NUM
fsr-3259	212	70	)	)	PUNCT
fsr-3259	212	71	multi	multi	ADJ
fsr-3259	212	72	-	-	ADJ
fsr-3259	212	73	fund	fund	ADJ
fsr-3259	212	74	management	management	NOUN
fsr-3259	212	75	for	for	ADP
fsr-3259	212	76	the	the	DET
fsr-3259	212	77	period	period	NOUN
fsr-3259	212	78	(	(	PUNCT
fsr-3259	212	79	amatchm	amatchm	PROPN
fsr-3259	212	80	,	,	PUNCT
fsr-3259	212	81	yes	yes	INTJ
fsr-3259	212	82	�	�	PROPN
fsr-3259	212	83	1	1	NUM
fsr-3259	212	84	)	)	PUNCT
fsr-3259	212	85	0.191	0.191	NUM
fsr-3259	212	86	*	*	PUNCT
fsr-3259	212	87	*	*	PUNCT
fsr-3259	212	88	0.195	0.195	NUM
fsr-3259	212	89	*	*	X
fsr-3259	212	90	*	*	X
fsr-3259	212	91	0.249	0.249	NUM
fsr-3259	212	92	*	*	PUNCT
fsr-3259	212	93	*	*	PUNCT
fsr-3259	212	94	0.223	0.223	NUM
fsr-3259	212	95	*	*	PUNCT
fsr-3259	212	96	*	*	PUNCT
fsr-3259	212	97	(	(	PUNCT
fsr-3259	212	98	0.038	0.038	NUM
fsr-3259	212	99	)	)	PUNCT
fsr-3259	212	100	(	(	PUNCT
fsr-3259	212	101	0.057	0.057	NUM
fsr-3259	212	102	)	)	PUNCT
fsr-3259	212	103	(	(	PUNCT
fsr-3259	212	104	0.054	0.054	NUM
fsr-3259	212	105	)	)	PUNCT
fsr-3259	212	106	(	(	PUNCT
fsr-3259	212	107	0.086	0.086	NUM
fsr-3259	212	108	)	)	PUNCT
fsr-3259	212	109	amatchh	amatchh	NOUN
fsr-3259	212	110	�	�	PROPN
fsr-3259	212	111	amatchm	amatchm	PROPN
fsr-3259	212	112	�	�	PROPN
fsr-3259	212	113	0.278	0.278	NUM
fsr-3259	212	114	�	�	PROPN
fsr-3259	212	115	0.100	0.100	NUM
fsr-3259	212	116	(	(	PUNCT
fsr-3259	212	117	0.163	0.163	NUM
fsr-3259	212	118	)	)	PUNCT
fsr-3259	212	119	(	(	PUNCT
fsr-3259	212	120	0.222	0.222	NUM
fsr-3259	212	121	)	)	PUNCT
fsr-3259	212	122	amatchm1	amatchm1	NOUN
fsr-3259	213	1	[	[	X
fsr-3259	213	2	a	a	X
fsr-3259	213	3	]	]	X
fsr-3259	213	4	0.164	0.164	NUM
fsr-3259	213	5	*	*	NOUN
fsr-3259	213	6	*	*	PUNCT
fsr-3259	213	7	0.133	0.133	NUM
fsr-3259	213	8	*	*	PUNCT
fsr-3259	213	9	(	(	PUNCT
fsr-3259	213	10	0.044	0.044	NUM
fsr-3259	213	11	)	)	PUNCT
fsr-3259	213	12	(	(	PUNCT
fsr-3259	213	13	0.060	0.060	NUM
fsr-3259	213	14	)	)	PUNCT
fsr-3259	213	15	amatchm2	amatchm2	PUNCT
fsr-3259	214	1	[	[	X
fsr-3259	214	2	b	b	X
fsr-3259	214	3	]	]	PUNCT
fsr-3259	214	4	0.281	0.281	NUM
fsr-3259	214	5	*	*	NOUN
fsr-3259	214	6	*	*	NOUN
fsr-3259	215	1	0.395	0.395	NUM
fsr-3259	215	2	*	*	PUNCT
fsr-3259	215	3	*	*	PUNCT
fsr-3259	215	4	(	(	PUNCT
fsr-3259	215	5	0.042	0.042	NUM
fsr-3259	215	6	)	)	PUNCT
fsr-3259	215	7	(	(	PUNCT
fsr-3259	215	8	0.089	0.089	NUM
fsr-3259	215	9	)	)	PUNCT
fsr-3259	215	10	fund	fund	NOUN
fsr-3259	215	11	objectives	objective	NOUN
fsr-3259	215	12	:	:	PUNCT
fsr-3259	215	13	ag	ag	PROPN
fsr-3259	215	14	-	-	PUNCT
fsr-3259	215	15	gi	gi	NOUN
fsr-3259	215	16	0.153	0.153	NUM
fsr-3259	215	17	*	*	PUNCT
fsr-3259	215	18	*	*	PUNCT
fsr-3259	215	19	0.136	0.136	NUM
fsr-3259	215	20	*	*	PUNCT
fsr-3259	215	21	*	*	PUNCT
fsr-3259	215	22	0.159	0.159	NUM
fsr-3259	215	23	*	*	PUNCT
fsr-3259	215	24	*	*	PUNCT
fsr-3259	215	25	0.138	0.138	NUM
fsr-3259	215	26	*	*	PUNCT
fsr-3259	215	27	*	*	PUNCT
fsr-3259	215	28	0.154	0.154	NUM
fsr-3259	215	29	*	*	PUNCT
fsr-3259	215	30	*	*	X
fsr-3259	215	31	0.130	0.130	NUM
fsr-3259	215	32	*	*	PUNCT
fsr-3259	215	33	(	(	PUNCT
fsr-3259	215	34	0.044	0.044	NUM
fsr-3259	215	35	)	)	PUNCT
fsr-3259	215	36	(	(	PUNCT
fsr-3259	215	37	0.052	0.052	NUM
fsr-3259	215	38	)	)	PUNCT
fsr-3259	215	39	(	(	PUNCT
fsr-3259	215	40	0.045	0.045	NUM
fsr-3259	215	41	)	)	PUNCT
fsr-3259	215	42	(	(	PUNCT
fsr-3259	215	43	0.053	0.053	NUM
fsr-3259	215	44	)	)	PUNCT
fsr-3259	215	45	(	(	PUNCT
fsr-3259	215	46	0.044	0.044	NUM
fsr-3259	215	47	)	)	PUNCT
fsr-3259	215	48	(	(	PUNCT
fsr-3259	215	49	0.051	0.051	NUM
fsr-3259	215	50	)	)	PUNCT
fsr-3259	215	51	fund	fund	NOUN
fsr-3259	215	52	objectives	objective	NOUN
fsr-3259	215	53	:	:	PUNCT
fsr-3259	215	54	ag	ag	PROPN
fsr-3259	215	55	-	-	PROPN
fsr-3259	215	56	lg	lg	PROPN
fsr-3259	215	57	0.145	0.145	NUM
fsr-3259	215	58	*	*	NOUN
fsr-3259	215	59	*	*	PUNCT
fsr-3259	215	60	0.111	0.111	NUM
fsr-3259	215	61	*	*	PUNCT
fsr-3259	215	62	*	*	PUNCT
fsr-3259	215	63	0.157	0.157	NUM
fsr-3259	215	64	*	*	NOUN
fsr-3259	215	65	*	*	NOUN
fsr-3259	215	66	0.114	0.114	NUM
fsr-3259	215	67	*	*	PUNCT
fsr-3259	215	68	*	*	PUNCT
fsr-3259	215	69	0.149	0.149	NUM
fsr-3259	215	70	*	*	PUNCT
fsr-3259	215	71	*	*	PUNCT
fsr-3259	215	72	0.121	0.121	NUM
fsr-3259	215	73	*	*	PUNCT
fsr-3259	215	74	*	*	PUNCT
fsr-3259	215	75	(	(	PUNCT
fsr-3259	215	76	0.028	0.028	NUM
fsr-3259	215	77	)	)	PUNCT
fsr-3259	215	78	(	(	PUNCT
fsr-3259	215	79	0.034	0.034	NUM
fsr-3259	215	80	)	)	PUNCT
fsr-3259	215	81	(	(	PUNCT
fsr-3259	215	82	0.030	0.030	NUM
fsr-3259	215	83	)	)	PUNCT
fsr-3259	215	84	(	(	PUNCT
fsr-3259	215	85	0.036	0.036	NUM
fsr-3259	215	86	)	)	PUNCT
fsr-3259	215	87	(	(	PUNCT
fsr-3259	215	88	0.028	0.028	NUM
fsr-3259	215	89	)	)	PUNCT
fsr-3259	215	90	(	(	PUNCT
fsr-3259	215	91	0.035	0.035	NUM
fsr-3259	215	92	)	)	PUNCT
fsr-3259	215	93	log(tnfo	log(tnfo	X
fsr-3259	215	94	)	)	PUNCT
fsr-3259	215	95	0.078	0.078	NUM
fsr-3259	215	96	*	*	PUNCT
fsr-3259	215	97	0.077	0.077	NUM
fsr-3259	215	98	*	*	SYM
fsr-3259	215	99	0.065	0.065	NUM
fsr-3259	215	100	*	*	SYM
fsr-3259	215	101	(	(	PUNCT
fsr-3259	215	102	0.032	0.032	NUM
fsr-3259	215	103	)	)	PUNCT
fsr-3259	215	104	(	(	PUNCT
fsr-3259	215	105	0.033	0.033	NUM
fsr-3259	215	106	)	)	PUNCT
fsr-3259	215	107	(	(	PUNCT
fsr-3259	215	108	0.033	0.033	NUM
fsr-3259	215	109	)	)	PUNCT
fsr-3259	215	110	family	family	NOUN
fsr-3259	215	111	size	size	NOUN
fsr-3259	215	112	�	�	PROPN
fsr-3259	215	113	0.050	0.050	NUM
fsr-3259	215	114	*	*	PUNCT
fsr-3259	215	115	*	*	PUNCT
fsr-3259	215	116	�	�	NOUN
fsr-3259	215	117	0.050	0.050	NUM
fsr-3259	215	118	*	*	PUNCT
fsr-3259	215	119	*	*	PUNCT
fsr-3259	215	120	�	�	PROPN
fsr-3259	215	121	0.044	0.044	NUM
fsr-3259	215	122	*	*	NOUN
fsr-3259	215	123	*	*	PUNCT
fsr-3259	215	124	(	(	PUNCT
fsr-3259	215	125	0.014	0.014	NUM
fsr-3259	215	126	)	)	PUNCT
fsr-3259	215	127	(	(	PUNCT
fsr-3259	215	128	0.014	0.014	NUM
fsr-3259	215	129	)	)	PUNCT
fsr-3259	215	130	(	(	PUNCT
fsr-3259	215	131	0.014	0.014	NUM
fsr-3259	215	132	)	)	PUNCT
fsr-3259	215	133	family	family	NOUN
fsr-3259	215	134	fixed	fix	VERB
fsr-3259	215	135	effects	effect	NOUN
fsr-3259	216	1	no	no	INTJ
fsr-3259	216	2	yes	yes	INTJ
fsr-3259	217	1	no	no	INTJ
fsr-3259	218	1	yes	yes	INTJ
fsr-3259	219	1	no	no	INTJ
fsr-3259	219	2	yes	yes	INTJ
fsr-3259	219	3	observations	observation	NOUN
fsr-3259	219	4	256	256	NUM
fsr-3259	219	5	256	256	NUM
fsr-3259	219	6	256	256	NUM
fsr-3259	219	7	256	256	NUM
fsr-3259	219	8	256	256	NUM
fsr-3259	219	9	256	256	NUM
fsr-3259	219	10	adjusted	adjust	VERB
fsr-3259	219	11	r2	r2	NOUN
fsr-3259	219	12	0.387	0.387	NUM
fsr-3259	219	13	0.451	0.451	NUM
fsr-3259	219	14	0.390	0.390	NUM
fsr-3259	219	15	0.449	0.449	NUM
fsr-3259	219	16	0.391	0.391	NUM
fsr-3259	219	17	0.466	0.466	NUM
fsr-3259	219	18	p	p	NOUN
fsr-3259	219	19	-	-	PUNCT
fsr-3259	219	20	value	value	NOUN
fsr-3259	219	21	for	for	ADP
fsr-3259	219	22	f	f	NOUN
fsr-3259	219	23	-	-	PUNCT
fsr-3259	219	24	test	test	NOUN
fsr-3259	219	25	:	:	PUNCT
fsr-3259	220	1	[	[	X
fsr-3259	220	2	a	a	X
fsr-3259	220	3	]	]	X
fsr-3259	220	4	�	�	PROPN
fsr-3259	221	1	[	[	X
fsr-3259	221	2	b	b	X
fsr-3259	221	3	]	]	X
fsr-3259	221	4	0.025	0.025	NUM
fsr-3259	221	5	*	*	NOUN
fsr-3259	221	6	0.007	0.007	NUM
fsr-3259	221	7	*	*	PUNCT
fsr-3259	221	8	*	*	NOUN
fsr-3259	221	9	notes	note	NOUN
fsr-3259	221	10	:	:	PUNCT
fsr-3259	221	11	ag	ag	PROPN
fsr-3259	221	12	,	,	PUNCT
fsr-3259	221	13	gi	gi	NOUN
fsr-3259	221	14	,	,	PUNCT
fsr-3259	221	15	and	and	CCONJ
fsr-3259	221	16	lg	lg	NOUN
fsr-3259	221	17	indicate	indicate	VERB
fsr-3259	221	18	fund	fund	NOUN
fsr-3259	221	19	investment	investment	NOUN
fsr-3259	221	20	objectives	objective	NOUN
fsr-3259	221	21	of	of	ADP
fsr-3259	221	22	aggressive	aggressive	ADJ
fsr-3259	221	23	growth	growth	NOUN
fsr-3259	221	24	,	,	PUNCT
fsr-3259	221	25	growth	growth	NOUN
fsr-3259	221	26	and	and	CCONJ
fsr-3259	221	27	income	income	NOUN
fsr-3259	221	28	,	,	PUNCT
fsr-3259	221	29	and	and	CCONJ
fsr-3259	221	30	long	long	ADJ
fsr-3259	221	31	-	-	PUNCT
fsr-3259	221	32	term	term	NOUN
fsr-3259	221	33	growth	growth	NOUN
fsr-3259	221	34	,	,	PUNCT
fsr-3259	221	35	respectively	respectively	ADV
fsr-3259	221	36	.	.	PUNCT
fsr-3259	222	1	tnfo	tnfo	NOUN
fsr-3259	222	2	indicates	indicate	VERB
fsr-3259	222	3	the	the	DET
fsr-3259	222	4	total	total	ADJ
fsr-3259	222	5	number	number	NOUN
fsr-3259	222	6	of	of	ADP
fsr-3259	222	7	funds	fund	NOUN
fsr-3259	222	8	having	have	VERB
fsr-3259	222	9	distinct	distinct	ADJ
fsr-3259	222	10	portfolios	portfolio	NOUN
fsr-3259	222	11	that	that	PRON
fsr-3259	222	12	are	be	AUX
fsr-3259	222	13	offered	offer	VERB
fsr-3259	222	14	in	in	ADP
fsr-3259	222	15	ag	ag	PROPN
fsr-3259	222	16	,	,	PUNCT
fsr-3259	222	17	gi	gi	NOUN
fsr-3259	222	18	,	,	PUNCT
fsr-3259	222	19	and	and	CCONJ
fsr-3259	222	20	lg	lg	NOUN
fsr-3259	222	21	investment	investment	NOUN
fsr-3259	222	22	objectives	objective	NOUN
fsr-3259	222	23	by	by	ADP
fsr-3259	222	24	a	a	DET
fsr-3259	222	25	family	family	NOUN
fsr-3259	222	26	over	over	ADP
fsr-3259	222	27	the	the	DET
fsr-3259	222	28	period	period	NOUN
fsr-3259	222	29	of	of	ADP
fsr-3259	222	30	2001	2001	NUM
fsr-3259	222	31	to	to	ADP
fsr-3259	222	32	2006	2006	NUM
fsr-3259	222	33	.	.	PUNCT
fsr-3259	223	1	family	family	NOUN
fsr-3259	223	2	size	size	NOUN
fsr-3259	223	3	indicates	indicate	VERB
fsr-3259	223	4	the	the	DET
fsr-3259	223	5	natural	natural	ADJ
fsr-3259	223	6	logarithm	logarithm	NOUN
fsr-3259	223	7	of	of	ADP
fsr-3259	223	8	one	one	NUM
fsr-3259	223	9	plus	plus	CCONJ
fsr-3259	223	10	the	the	DET
fsr-3259	223	11	average	average	ADJ
fsr-3259	223	12	total	total	ADJ
fsr-3259	223	13	net	net	ADJ
fsr-3259	223	14	assets	asset	NOUN
fsr-3259	223	15	(	(	PUNCT
fsr-3259	223	16	in	in	ADP
fsr-3259	223	17	billions	billion	NOUN
fsr-3259	223	18	)	)	PUNCT
fsr-3259	223	19	managed	manage	VERB
fsr-3259	223	20	by	by	ADP
fsr-3259	223	21	a	a	DET
fsr-3259	223	22	family	family	NOUN
fsr-3259	223	23	for	for	ADP
fsr-3259	223	24	the	the	DET
fsr-3259	223	25	period	period	NOUN
fsr-3259	223	26	.	.	PUNCT
fsr-3259	224	1	observations	observation	NOUN
fsr-3259	224	2	indicate	indicate	VERB
fsr-3259	224	3	the	the	DET
fsr-3259	224	4	number	number	NOUN
fsr-3259	224	5	of	of	ADP
fsr-3259	224	6	different	different	ADJ
fsr-3259	224	7	pairs	pair	NOUN
fsr-3259	224	8	of	of	ADP
fsr-3259	224	9	funds	fund	NOUN
fsr-3259	224	10	.	.	PUNCT
fsr-3259	225	1	robust	robust	ADJ
fsr-3259	225	2	standard	standard	ADJ
fsr-3259	225	3	errors	error	NOUN
fsr-3259	225	4	are	be	AUX
fsr-3259	225	5	in	in	ADP
fsr-3259	225	6	parentheses	parenthesis	NOUN
fsr-3259	225	7	.	.	PUNCT
fsr-3259	226	1	*	*	PUNCT
fsr-3259	226	2	p	p	X
fsr-3259	226	3	�	�	PROPN
fsr-3259	226	4	0.05	0.05	NUM
fsr-3259	226	5	,	,	PUNCT
fsr-3259	226	6	*	*	PUNCT
fsr-3259	226	7	*	*	PUNCT
fsr-3259	226	8	p	p	X
fsr-3259	226	9	�	�	PROPN
fsr-3259	226	10	0.01	0.01	NUM
fsr-3259	226	11	.	.	PUNCT
fsr-3259	226	12	41y	41y	PROPN
fsr-3259	226	13	.	.	PUNCT
fsr-3259	227	1	park	park	NOUN
fsr-3259	227	2	/	/	SYM
fsr-3259	227	3	financial	financial	ADJ
fsr-3259	227	4	services	service	NOUN
fsr-3259	227	5	review	review	VERB
fsr-3259	227	6	25	25	NUM
fsr-3259	227	7	(	(	PUNCT
fsr-3259	227	8	2016	2016	NUM
fsr-3259	227	9	)	)	PUNCT
fsr-3259	227	10	29–49	29–49	NUM
fsr-3259	227	11	holdings	holding	NOUN
fsr-3259	227	12	increases	increase	VERB
fsr-3259	227	13	the	the	DET
fsr-3259	227	14	correlation	correlation	NOUN
fsr-3259	227	15	of	of	ADP
fsr-3259	227	16	return	return	NOUN
fsr-3259	227	17	residuals	residual	NOUN
fsr-3259	227	18	by	by	ADP
fsr-3259	227	19	7	7	NUM
fsr-3259	227	20	%	%	NOUN
fsr-3259	227	21	,	,	PUNCT
fsr-3259	227	22	while	while	SCONJ
fsr-3259	227	23	the	the	DET
fsr-3259	227	24	multi	multi	ADJ
fsr-3259	227	25	-	-	ADJ
fsr-3259	227	26	fund	fund	ADJ
fsr-3259	227	27	management	management	NOUN
fsr-3259	227	28	between	between	ADP
fsr-3259	227	29	funds	fund	NOUN
fsr-3259	227	30	increases	increase	VERB
fsr-3259	227	31	the	the	DET
fsr-3259	227	32	correlation	correlation	NOUN
fsr-3259	227	33	of	of	ADP
fsr-3259	227	34	return	return	NOUN
fsr-3259	227	35	residuals	residual	NOUN
fsr-3259	227	36	by	by	ADP
fsr-3259	227	37	19	19	NUM
fsr-3259	227	38	%	%	NOUN
fsr-3259	227	39	.	.	PUNCT
fsr-3259	228	1	second	second	ADJ
fsr-3259	228	2	,	,	PUNCT
fsr-3259	228	3	we	we	PRON
fsr-3259	228	4	include	include	VERB
fsr-3259	228	5	an	an	DET
fsr-3259	228	6	interaction	interaction	NOUN
fsr-3259	228	7	term	term	NOUN
fsr-3259	228	8	of	of	ADP
fsr-3259	228	9	average	average	ADJ
fsr-3259	228	10	common	common	ADJ
fsr-3259	228	11	stock	stock	NOUN
fsr-3259	228	12	holdings	holding	NOUN
fsr-3259	228	13	(	(	PUNCT
fsr-3259	228	14	amatchh	amatchh	NOUN
fsr-3259	228	15	)	)	PUNCT
fsr-3259	228	16	and	and	CCONJ
fsr-3259	228	17	multi	multi	ADJ
fsr-3259	228	18	-	-	ADJ
fsr-3259	228	19	fund	fund	ADJ
fsr-3259	228	20	management	management	NOUN
fsr-3259	228	21	(	(	PUNCT
fsr-3259	228	22	amatchm	amatchm	PROPN
fsr-3259	228	23	)	)	PUNCT
fsr-3259	228	24	in	in	ADP
fsr-3259	228	25	a	a	DET
fsr-3259	228	26	model	model	NOUN
fsr-3259	228	27	to	to	PART
fsr-3259	228	28	see	see	VERB
fsr-3259	228	29	if	if	SCONJ
fsr-3259	228	30	they	they	PRON
fsr-3259	228	31	interact	interact	VERB
fsr-3259	228	32	with	with	ADP
fsr-3259	228	33	each	each	DET
fsr-3259	228	34	other	other	ADJ
fsr-3259	228	35	on	on	ADP
fsr-3259	228	36	return	return	VERB
fsr-3259	228	37	residual	residual	ADJ
fsr-3259	228	38	correlations	correlation	NOUN
fsr-3259	228	39	(	(	PUNCT
fsr-3259	228	40	columns	column	NOUN
fsr-3259	228	41	3	3	NUM
fsr-3259	228	42	and	and	CCONJ
fsr-3259	228	43	4	4	NUM
fsr-3259	228	44	)	)	PUNCT
fsr-3259	228	45	.	.	PUNCT
fsr-3259	229	1	the	the	DET
fsr-3259	229	2	coefficient	coefficient	NOUN
fsr-3259	229	3	of	of	ADP
fsr-3259	229	4	the	the	DET
fsr-3259	229	5	interaction	interaction	NOUN
fsr-3259	229	6	term	term	NOUN
fsr-3259	229	7	(	(	PUNCT
fsr-3259	229	8	matchh	matchh	PROPN
fsr-3259	229	9	�	�	PROPN
fsr-3259	229	10	matchm	matchm	PROPN
fsr-3259	229	11	)	)	PUNCT
fsr-3259	229	12	,	,	PUNCT
fsr-3259	229	13	however	however	ADV
fsr-3259	229	14	,	,	PUNCT
fsr-3259	229	15	is	be	AUX
fsr-3259	229	16	not	not	PART
fsr-3259	229	17	statistically	statistically	ADV
fsr-3259	229	18	significant	significant	ADJ
fsr-3259	229	19	while	while	SCONJ
fsr-3259	229	20	the	the	DET
fsr-3259	229	21	main	main	ADJ
fsr-3259	229	22	effects	effect	NOUN
fsr-3259	229	23	of	of	ADP
fsr-3259	229	24	the	the	DET
fsr-3259	229	25	two	two	NUM
fsr-3259	229	26	commonalities	commonality	NOUN
fsr-3259	229	27	remain	remain	VERB
fsr-3259	229	28	significant	significant	ADJ
fsr-3259	229	29	.	.	PUNCT
fsr-3259	230	1	the	the	DET
fsr-3259	230	2	results	result	NOUN
fsr-3259	230	3	,	,	PUNCT
fsr-3259	230	4	thus	thus	ADV
fsr-3259	230	5	,	,	PUNCT
fsr-3259	230	6	indicate	indicate	VERB
fsr-3259	230	7	that	that	SCONJ
fsr-3259	230	8	common	common	ADJ
fsr-3259	230	9	stock	stock	NOUN
fsr-3259	230	10	holdings	holding	NOUN
fsr-3259	230	11	and	and	CCONJ
fsr-3259	230	12	multi	multi	ADJ
fsr-3259	230	13	-	-	ADJ
fsr-3259	230	14	fund	fund	ADJ
fsr-3259	230	15	management	management	NOUN
fsr-3259	230	16	independently	independently	ADV
fsr-3259	230	17	influence	influence	VERB
fsr-3259	230	18	the	the	DET
fsr-3259	230	19	correlation	correlation	NOUN
fsr-3259	230	20	of	of	ADP
fsr-3259	230	21	return	return	NOUN
fsr-3259	230	22	residuals	residual	NOUN
fsr-3259	230	23	.	.	PUNCT
fsr-3259	231	1	third	third	ADJ
fsr-3259	231	2	,	,	PUNCT
fsr-3259	231	3	we	we	PRON
fsr-3259	231	4	further	far	ADV
fsr-3259	231	5	examine	examine	VERB
fsr-3259	231	6	whether	whether	SCONJ
fsr-3259	231	7	or	or	CCONJ
fsr-3259	231	8	not	not	PART
fsr-3259	231	9	different	different	ADJ
fsr-3259	231	10	multi	multi	ADJ
fsr-3259	231	11	-	-	ADJ
fsr-3259	231	12	fund	fund	ADJ
fsr-3259	231	13	management	management	NOUN
fsr-3259	231	14	structures	structure	NOUN
fsr-3259	231	15	are	be	AUX
fsr-3259	231	16	related	relate	VERB
fsr-3259	231	17	to	to	PART
fsr-3259	231	18	return	return	VERB
fsr-3259	231	19	residual	residual	ADJ
fsr-3259	231	20	correlations	correlation	NOUN
fsr-3259	231	21	.	.	PUNCT
fsr-3259	232	1	we	we	PRON
fsr-3259	232	2	divide	divide	VERB
fsr-3259	232	3	multi	multi	ADJ
fsr-3259	232	4	-	-	ADJ
fsr-3259	232	5	fund	fund	ADJ
fsr-3259	232	6	management	management	NOUN
fsr-3259	232	7	into	into	ADP
fsr-3259	232	8	two	two	NUM
fsr-3259	232	9	categories	category	NOUN
fsr-3259	232	10	(	(	PUNCT
fsr-3259	232	11	columns	column	NOUN
fsr-3259	232	12	5	5	NUM
fsr-3259	232	13	and	and	CCONJ
fsr-3259	232	14	6	6	NUM
fsr-3259	232	15	)	)	PUNCT
fsr-3259	232	16	.	.	PUNCT
fsr-3259	233	1	one	one	NUM
fsr-3259	233	2	is	be	AUX
fsr-3259	233	3	that	that	SCONJ
fsr-3259	233	4	a	a	DET
fsr-3259	233	5	pair	pair	NOUN
fsr-3259	233	6	of	of	ADP
fsr-3259	233	7	funds	fund	NOUN
fsr-3259	233	8	is	be	AUX
fsr-3259	233	9	managed	manage	VERB
fsr-3259	233	10	by	by	ADP
fsr-3259	233	11	at	at	ADV
fsr-3259	233	12	least	least	ADV
fsr-3259	233	13	one	one	NUM
fsr-3259	233	14	multi	multi	ADJ
fsr-3259	233	15	-	-	ADJ
fsr-3259	233	16	fund	fund	NOUN
fsr-3259	233	17	manager	manager	NOUN
fsr-3259	233	18	,	,	PUNCT
fsr-3259	233	19	but	but	CCONJ
fsr-3259	233	20	not	not	PART
fsr-3259	233	21	managed	manage	VERB
fsr-3259	233	22	by	by	ADP
fsr-3259	233	23	exactly	exactly	ADV
fsr-3259	233	24	the	the	DET
fsr-3259	233	25	same	same	ADJ
fsr-3259	233	26	managers	manager	NOUN
fsr-3259	233	27	(	(	PUNCT
fsr-3259	233	28	matchm1	matchm1	PROPN
fsr-3259	233	29	)	)	PUNCT
fsr-3259	233	30	.	.	PUNCT
fsr-3259	234	1	the	the	DET
fsr-3259	234	2	other	other	ADJ
fsr-3259	234	3	is	be	AUX
fsr-3259	234	4	that	that	SCONJ
fsr-3259	234	5	a	a	DET
fsr-3259	234	6	pair	pair	NOUN
fsr-3259	234	7	of	of	ADP
fsr-3259	234	8	funds	fund	NOUN
fsr-3259	234	9	is	be	AUX
fsr-3259	234	10	managed	manage	VERB
fsr-3259	234	11	by	by	ADP
fsr-3259	234	12	exactly	exactly	ADV
fsr-3259	234	13	the	the	DET
fsr-3259	234	14	same	same	ADJ
fsr-3259	234	15	fund	fund	NOUN
fsr-3259	234	16	manager(s	manager(s	NOUN
fsr-3259	234	17	)	)	PUNCT
fsr-3259	234	18	(	(	PUNCT
fsr-3259	234	19	matchm2	matchm2	NOUN
fsr-3259	234	20	)	)	PUNCT
fsr-3259	234	21	.	.	PUNCT
fsr-3259	235	1	because	because	SCONJ
fsr-3259	235	2	the	the	DET
fsr-3259	235	3	management	management	NOUN
fsr-3259	235	4	by	by	ADP
fsr-3259	235	5	exactly	exactly	ADV
fsr-3259	235	6	the	the	DET
fsr-3259	235	7	same	same	ADJ
fsr-3259	235	8	managers	manager	NOUN
fsr-3259	235	9	is	be	AUX
fsr-3259	235	10	more	more	ADV
fsr-3259	235	11	likely	likely	ADJ
fsr-3259	235	12	to	to	PART
fsr-3259	235	13	increase	increase	VERB
fsr-3259	235	14	similarity	similarity	NOUN
fsr-3259	235	15	between	between	ADP
fsr-3259	235	16	funds	fund	NOUN
fsr-3259	235	17	,	,	PUNCT
fsr-3259	235	18	we	we	PRON
fsr-3259	235	19	expect	expect	VERB
fsr-3259	235	20	that	that	SCONJ
fsr-3259	235	21	the	the	DET
fsr-3259	235	22	coefficient	coefficient	NOUN
fsr-3259	235	23	of	of	ADP
fsr-3259	235	24	matchm2	matchm2	NOUN
fsr-3259	235	25	is	be	AUX
fsr-3259	235	26	higher	high	ADJ
fsr-3259	235	27	than	than	ADP
fsr-3259	235	28	that	that	PRON
fsr-3259	235	29	of	of	ADP
fsr-3259	235	30	matchm1	matchm1	PROPN
fsr-3259	235	31	.	.	PUNCT
fsr-3259	236	1	matchm1	matchm1	NOUN
fsr-3259	236	2	and	and	CCONJ
fsr-3259	236	3	matchm2	matchm2	NOUN
fsr-3259	236	4	are	be	AUX
fsr-3259	236	5	dummy	dummy	ADJ
fsr-3259	236	6	variables	variable	NOUN
fsr-3259	236	7	that	that	PRON
fsr-3259	236	8	have	have	VERB
fsr-3259	236	9	the	the	DET
fsr-3259	236	10	same	same	ADJ
fsr-3259	236	11	base	base	NOUN
fsr-3259	236	12	category	category	NOUN
fsr-3259	236	13	,	,	PUNCT
fsr-3259	236	14	which	which	PRON
fsr-3259	236	15	is	be	AUX
fsr-3259	236	16	that	that	SCONJ
fsr-3259	236	17	a	a	DET
fsr-3259	236	18	pair	pair	NOUN
fsr-3259	236	19	of	of	ADP
fsr-3259	236	20	funds	fund	NOUN
fsr-3259	236	21	is	be	AUX
fsr-3259	236	22	managed	manage	VERB
fsr-3259	236	23	by	by	ADP
fsr-3259	236	24	two	two	NUM
fsr-3259	236	25	completely	completely	ADV
fsr-3259	236	26	different	different	ADJ
fsr-3259	236	27	groups	group	NOUN
fsr-3259	236	28	of	of	ADP
fsr-3259	236	29	fund	fund	NOUN
fsr-3259	236	30	managers	manager	NOUN
fsr-3259	236	31	.	.	PUNCT
fsr-3259	237	1	results	result	NOUN
fsr-3259	237	2	in	in	ADP
fsr-3259	237	3	columns	column	NOUN
fsr-3259	237	4	(	(	PUNCT
fsr-3259	237	5	5	5	NUM
fsr-3259	237	6	)	)	PUNCT
fsr-3259	237	7	and	and	CCONJ
fsr-3259	237	8	(	(	PUNCT
fsr-3259	237	9	6	6	X
fsr-3259	237	10	)	)	PUNCT
fsr-3259	237	11	show	show	VERB
fsr-3259	237	12	that	that	SCONJ
fsr-3259	237	13	both	both	DET
fsr-3259	237	14	variables	variable	NOUN
fsr-3259	237	15	,	,	PUNCT
fsr-3259	237	16	matchm1	matchm1	NOUN
fsr-3259	237	17	and	and	CCONJ
fsr-3259	237	18	matchm2	matchm2	NOUN
fsr-3259	237	19	,	,	PUNCT
fsr-3259	237	20	are	be	AUX
fsr-3259	237	21	significantly	significantly	ADV
fsr-3259	237	22	positively	positively	ADV
fsr-3259	237	23	related	relate	VERB
fsr-3259	237	24	to	to	PART
fsr-3259	237	25	return	return	VERB
fsr-3259	237	26	residual	residual	ADJ
fsr-3259	237	27	correlations	correlation	NOUN
fsr-3259	237	28	and	and	CCONJ
fsr-3259	237	29	that	that	SCONJ
fsr-3259	237	30	the	the	DET
fsr-3259	237	31	coefficient	coefficient	NOUN
fsr-3259	237	32	of	of	ADP
fsr-3259	237	33	matchm2	matchm2	NOUN
fsr-3259	237	34	is	be	AUX
fsr-3259	237	35	significantly	significantly	ADV
fsr-3259	237	36	greater	great	ADJ
fsr-3259	237	37	than	than	ADP
fsr-3259	237	38	that	that	PRON
fsr-3259	237	39	of	of	ADP
fsr-3259	237	40	matchm1	matchm1	NOUN
fsr-3259	237	41	(	(	PUNCT
fsr-3259	237	42	p	p	NOUN
fsr-3259	237	43	-	-	PUNCT
fsr-3259	237	44	values	value	NOUN
fsr-3259	237	45	for	for	ADP
fsr-3259	237	46	f	f	NOUN
fsr-3259	237	47	-	-	PUNCT
fsr-3259	237	48	tests	test	NOUN
fsr-3259	237	49	�	�	NOUN
fsr-3259	237	50	0.05	0.05	NUM
fsr-3259	237	51	)	)	PUNCT
fsr-3259	237	52	,	,	PUNCT
fsr-3259	237	53	as	as	SCONJ
fsr-3259	237	54	expected	expect	VERB
fsr-3259	237	55	.	.	PUNCT
fsr-3259	238	1	in	in	ADP
fsr-3259	238	2	summary	summary	NOUN
fsr-3259	238	3	,	,	PUNCT
fsr-3259	238	4	the	the	DET
fsr-3259	238	5	regression	regression	NOUN
fsr-3259	238	6	results	result	VERB
fsr-3259	238	7	in	in	ADP
fsr-3259	238	8	table	table	NOUN
fsr-3259	238	9	4	4	NUM
fsr-3259	238	10	show	show	VERB
fsr-3259	238	11	that	that	SCONJ
fsr-3259	238	12	common	common	ADJ
fsr-3259	238	13	stock	stock	NOUN
fsr-3259	238	14	holdings	holding	NOUN
fsr-3259	238	15	and	and	CCONJ
fsr-3259	238	16	multi	multi	ADJ
fsr-3259	238	17	-	-	ADJ
fsr-3259	238	18	fund	fund	ADJ
fsr-3259	238	19	management	management	NOUN
fsr-3259	238	20	are	be	AUX
fsr-3259	238	21	positively	positively	ADV
fsr-3259	238	22	related	relate	VERB
fsr-3259	238	23	to	to	ADP
fsr-3259	238	24	the	the	DET
fsr-3259	238	25	correlation	correlation	NOUN
fsr-3259	238	26	of	of	ADP
fsr-3259	238	27	return	return	NOUN
fsr-3259	238	28	residuals	residual	NOUN
fsr-3259	238	29	.	.	PUNCT
fsr-3259	239	1	the	the	DET
fsr-3259	239	2	results	result	NOUN
fsr-3259	239	3	indicate	indicate	VERB
fsr-3259	239	4	that	that	SCONJ
fsr-3259	239	5	,	,	PUNCT
fsr-3259	239	6	when	when	SCONJ
fsr-3259	239	7	an	an	DET
fsr-3259	239	8	investor	investor	NOUN
fsr-3259	239	9	constructs	construct	VERB
fsr-3259	239	10	a	a	DET
fsr-3259	239	11	portfolio	portfolio	NOUN
fsr-3259	239	12	with	with	ADP
fsr-3259	239	13	equity	equity	NOUN
fsr-3259	239	14	funds	fund	NOUN
fsr-3259	239	15	that	that	PRON
fsr-3259	239	16	have	have	VERB
fsr-3259	239	17	different	different	ADJ
fsr-3259	239	18	investment	investment	NOUN
fsr-3259	239	19	objectives	objective	NOUN
fsr-3259	239	20	within	within	ADP
fsr-3259	239	21	a	a	DET
fsr-3259	239	22	family	family	NOUN
fsr-3259	239	23	,	,	PUNCT
fsr-3259	239	24	the	the	DET
fsr-3259	239	25	fund	fund	NOUN
fsr-3259	239	26	commonalities	commonality	NOUN
fsr-3259	239	27	can	can	AUX
fsr-3259	239	28	deteriorate	deteriorate	VERB
fsr-3259	239	29	the	the	DET
fsr-3259	239	30	investor	investor	NOUN
fsr-3259	239	31	’s	’s	PART
fsr-3259	239	32	portfolio	portfolio	NOUN
fsr-3259	239	33	diversification	diversification	NOUN
fsr-3259	239	34	by	by	ADP
fsr-3259	239	35	increasing	increase	VERB
fsr-3259	239	36	the	the	DET
fsr-3259	239	37	correlation	correlation	NOUN
fsr-3259	239	38	of	of	ADP
fsr-3259	239	39	return	return	NOUN
fsr-3259	239	40	residuals	residual	NOUN
fsr-3259	239	41	,	,	PUNCT
fsr-3259	239	42	which	which	PRON
fsr-3259	239	43	is	be	AUX
fsr-3259	239	44	a	a	DET
fsr-3259	239	45	component	component	NOUN
fsr-3259	239	46	of	of	ADP
fsr-3259	239	47	the	the	DET
fsr-3259	239	48	correlation	correlation	NOUN
fsr-3259	239	49	of	of	ADP
fsr-3259	239	50	fund	fund	NOUN
fsr-3259	239	51	returns	return	NOUN
fsr-3259	239	52	.	.	PUNCT
fsr-3259	240	1	5.3	5.3	NUM
fsr-3259	240	2	.	.	PUNCT
fsr-3259	240	3	fund	fund	NOUN
fsr-3259	240	4	commonalities	commonality	NOUN
fsr-3259	240	5	and	and	CCONJ
fsr-3259	240	6	risk	risk	NOUN
fsr-3259	240	7	-	-	PUNCT
fsr-3259	240	8	adjusted	adjust	VERB
fsr-3259	240	9	returns	return	NOUN
fsr-3259	240	10	regression	regression	VERB
fsr-3259	240	11	results	result	NOUN
fsr-3259	240	12	presented	present	VERB
fsr-3259	240	13	in	in	ADP
fsr-3259	240	14	tables	table	NOUN
fsr-3259	240	15	3	3	NUM
fsr-3259	240	16	and	and	CCONJ
fsr-3259	240	17	4	4	NUM
fsr-3259	240	18	,	,	PUNCT
fsr-3259	240	19	taken	take	VERB
fsr-3259	240	20	together	together	ADV
fsr-3259	240	21	,	,	PUNCT
fsr-3259	240	22	indicate	indicate	VERB
fsr-3259	240	23	that	that	SCONJ
fsr-3259	240	24	common	common	ADJ
fsr-3259	240	25	stock	stock	NOUN
fsr-3259	240	26	holdings	holding	NOUN
fsr-3259	240	27	and	and	CCONJ
fsr-3259	240	28	multi	multi	ADJ
fsr-3259	240	29	-	-	ADJ
fsr-3259	240	30	fund	fund	ADJ
fsr-3259	240	31	management	management	NOUN
fsr-3259	240	32	decrease	decrease	NOUN
fsr-3259	240	33	funds	fund	NOUN
fsr-3259	240	34	’	'	PUNCT
fsr-3259	240	35	operating	operate	VERB
fsr-3259	240	36	expense	expense	NOUN
fsr-3259	240	37	ratios	ratio	NOUN
fsr-3259	240	38	,	,	PUNCT
fsr-3259	240	39	but	but	CCONJ
fsr-3259	240	40	increase	increase	VERB
fsr-3259	240	41	their	their	PRON
fsr-3259	240	42	return	return	NOUN
fsr-3259	240	43	correlations	correlation	NOUN
fsr-3259	240	44	.	.	PUNCT
fsr-3259	241	1	these	these	DET
fsr-3259	241	2	results	result	NOUN
fsr-3259	241	3	imply	imply	VERB
fsr-3259	241	4	that	that	SCONJ
fsr-3259	241	5	an	an	DET
fsr-3259	241	6	increase	increase	NOUN
fsr-3259	241	7	in	in	ADP
fsr-3259	241	8	a	a	DET
fsr-3259	241	9	portfolio	portfolio	NOUN
fsr-3259	241	10	’s	’s	PART
fsr-3259	241	11	risk	risk	NOUN
fsr-3259	241	12	-	-	PUNCT
fsr-3259	241	13	adjusted	adjust	VERB
fsr-3259	241	14	return	return	NOUN
fsr-3259	241	15	net	net	NOUN
fsr-3259	241	16	of	of	ADP
fsr-3259	241	17	expenses	expense	NOUN
fsr-3259	241	18	caused	cause	VERB
fsr-3259	241	19	by	by	ADP
fsr-3259	241	20	a	a	DET
fsr-3259	241	21	decrease	decrease	NOUN
fsr-3259	241	22	in	in	ADP
fsr-3259	241	23	fund	fund	NOUN
fsr-3259	241	24	operating	operating	NOUN
fsr-3259	241	25	expenses	expense	NOUN
fsr-3259	241	26	can	can	AUX
fsr-3259	241	27	be	be	AUX
fsr-3259	241	28	wiped	wipe	VERB
fsr-3259	241	29	out	out	ADP
fsr-3259	241	30	by	by	ADP
fsr-3259	241	31	an	an	DET
fsr-3259	241	32	increase	increase	NOUN
fsr-3259	241	33	in	in	ADP
fsr-3259	241	34	the	the	DET
fsr-3259	241	35	portfolio	portfolio	NOUN
fsr-3259	241	36	risk	risk	NOUN
fsr-3259	241	37	resulting	result	VERB
fsr-3259	241	38	from	from	ADP
fsr-3259	241	39	increased	increase	VERB
fsr-3259	241	40	return	return	NOUN
fsr-3259	241	41	correlations	correlation	NOUN
fsr-3259	241	42	.	.	PUNCT
fsr-3259	242	1	in	in	ADP
fsr-3259	242	2	this	this	DET
fsr-3259	242	3	section	section	NOUN
fsr-3259	242	4	,	,	PUNCT
fsr-3259	242	5	we	we	PRON
fsr-3259	242	6	examine	examine	VERB
fsr-3259	242	7	net	net	ADJ
fsr-3259	242	8	effects	effect	NOUN
fsr-3259	242	9	of	of	ADP
fsr-3259	242	10	the	the	DET
fsr-3259	242	11	fund	fund	NOUN
fsr-3259	242	12	commonalities	commonality	NOUN
fsr-3259	242	13	on	on	ADP
fsr-3259	242	14	a	a	DET
fsr-3259	242	15	portfolio	portfolio	NOUN
fsr-3259	242	16	’s	’s	PART
fsr-3259	242	17	sharpe	sharpe	PROPN
fsr-3259	242	18	ratio	ratio	PROPN
fsr-3259	242	19	net	net	NOUN
fsr-3259	242	20	of	of	ADP
fsr-3259	242	21	expenses	expense	NOUN
fsr-3259	242	22	.	.	PUNCT
fsr-3259	243	1	for	for	ADP
fsr-3259	243	2	the	the	DET
fsr-3259	243	3	examination	examination	NOUN
fsr-3259	243	4	,	,	PUNCT
fsr-3259	243	5	we	we	PRON
fsr-3259	243	6	employ	employ	VERB
fsr-3259	243	7	a	a	DET
fsr-3259	243	8	hypothetical	hypothetical	ADJ
fsr-3259	243	9	investor	investor	NOUN
fsr-3259	243	10	who	who	PRON
fsr-3259	243	11	constructs	construct	VERB
fsr-3259	243	12	a	a	DET
fsr-3259	243	13	diversified	diversified	ADJ
fsr-3259	243	14	portfolio	portfolio	NOUN
fsr-3259	243	15	with	with	ADP
fsr-3259	243	16	equity	equity	NOUN
fsr-3259	243	17	funds	fund	NOUN
fsr-3259	243	18	that	that	PRON
fsr-3259	243	19	have	have	VERB
fsr-3259	243	20	ag	ag	PROPN
fsr-3259	243	21	,	,	PUNCT
fsr-3259	243	22	gi	gi	NOUN
fsr-3259	243	23	,	,	PUNCT
fsr-3259	243	24	and	and	CCONJ
fsr-3259	243	25	lg	lg	NOUN
fsr-3259	243	26	investment	investment	NOUN
fsr-3259	243	27	objectives	objective	NOUN
fsr-3259	243	28	,	,	PUNCT
fsr-3259	243	29	as	as	SCONJ
fsr-3259	243	30	suggested	suggest	VERB
fsr-3259	243	31	by	by	ADP
fsr-3259	243	32	moreno	moreno	PROPN
fsr-3259	243	33	and	and	CCONJ
fsr-3259	243	34	rodriguez	rodriguez	PROPN
fsr-3259	243	35	(	(	PUNCT
fsr-3259	243	36	2013	2013	NUM
fsr-3259	243	37	)	)	PUNCT
fsr-3259	243	38	.	.	PUNCT
fsr-3259	244	1	suppose	suppose	VERB
fsr-3259	244	2	that	that	SCONJ
fsr-3259	244	3	a	a	DET
fsr-3259	244	4	portfolio	portfolio	NOUN
fsr-3259	244	5	consists	consist	VERB
fsr-3259	244	6	of	of	ADP
fsr-3259	244	7	two	two	NUM
fsr-3259	244	8	different	different	ADJ
fsr-3259	244	9	investment	investment	NOUN
fsr-3259	244	10	objective	objective	ADJ
fsr-3259	244	11	funds	fund	NOUN
fsr-3259	244	12	with	with	ADP
fsr-3259	244	13	equal	equal	ADJ
fsr-3259	244	14	weights	weight	NOUN
fsr-3259	244	15	and	and	CCONJ
fsr-3259	244	16	that	that	SCONJ
fsr-3259	244	17	the	the	DET
fsr-3259	244	18	two	two	NUM
fsr-3259	244	19	funds	fund	NOUN
fsr-3259	244	20	are	be	AUX
fsr-3259	244	21	not	not	PART
fsr-3259	244	22	managed	manage	VERB
fsr-3259	244	23	by	by	ADP
fsr-3259	244	24	multi	multi	ADJ
fsr-3259	244	25	-	-	ADJ
fsr-3259	244	26	fund	fund	NOUN
fsr-3259	244	27	managers	manager	NOUN
fsr-3259	244	28	.	.	PUNCT
fsr-3259	245	1	for	for	ADP
fsr-3259	245	2	each	each	DET
fsr-3259	245	3	portfolio	portfolio	NOUN
fsr-3259	245	4	,	,	PUNCT
fsr-3259	245	5	we	we	PRON
fsr-3259	245	6	use	use	VERB
fsr-3259	245	7	a	a	DET
fsr-3259	245	8	set	set	NOUN
fsr-3259	245	9	of	of	ADP
fsr-3259	245	10	assumptions	assumption	NOUN
fsr-3259	245	11	presented	present	VERB
fsr-3259	245	12	in	in	ADP
fsr-3259	245	13	panel	panel	NOUN
fsr-3259	245	14	a	a	PRON
fsr-3259	245	15	of	of	ADP
fsr-3259	245	16	table	table	NOUN
fsr-3259	245	17	5	5	NUM
fsr-3259	245	18	.	.	PUNCT
fsr-3259	246	1	first	first	ADV
fsr-3259	246	2	,	,	PUNCT
fsr-3259	246	3	we	we	PRON
fsr-3259	246	4	compute	compute	VERB
fsr-3259	246	5	a	a	DET
fsr-3259	246	6	portfolio	portfolio	NOUN
fsr-3259	246	7	’s	’s	PART
fsr-3259	246	8	annual	annual	ADJ
fsr-3259	246	9	gross	gross	ADJ
fsr-3259	246	10	return	return	NOUN
fsr-3259	246	11	(	(	PUNCT
fsr-3259	246	12	before	before	ADP
fsr-3259	246	13	expenses	expense	NOUN
fsr-3259	246	14	)	)	PUNCT
fsr-3259	246	15	and	and	CCONJ
fsr-3259	246	16	expense	expense	NOUN
fsr-3259	246	17	ratio	ratio	NOUN
fsr-3259	246	18	,	,	PUNCT
fsr-3259	246	19	using	use	VERB
fsr-3259	246	20	the	the	DET
fsr-3259	246	21	average	average	ADJ
fsr-3259	246	22	monthly	monthly	ADJ
fsr-3259	246	23	gross	gross	ADJ
fsr-3259	246	24	returns	return	NOUN
fsr-3259	246	25	and	and	CCONJ
fsr-3259	246	26	the	the	DET
fsr-3259	246	27	average	average	ADJ
fsr-3259	246	28	expense	expense	NOUN
fsr-3259	246	29	ratios	ratio	NOUN
fsr-3259	246	30	presented	present	VERB
fsr-3259	246	31	by	by	ADP
fsr-3259	246	32	fund	fund	NOUN
fsr-3259	246	33	investment	investment	NOUN
fsr-3259	246	34	objectives	objective	NOUN
fsr-3259	246	35	in	in	ADP
fsr-3259	246	36	table	table	NOUN
fsr-3259	246	37	2	2	NUM
fsr-3259	246	38	.	.	PUNCT
fsr-3259	247	1	second	second	ADJ
fsr-3259	247	2	,	,	PUNCT
fsr-3259	247	3	we	we	PRON
fsr-3259	247	4	calculate	calculate	VERB
fsr-3259	247	5	a	a	DET
fsr-3259	247	6	portfolio	portfolio	NOUN
fsr-3259	247	7	’s	’s	PART
fsr-3259	247	8	risk	risk	NOUN
fsr-3259	247	9	,	,	PUNCT
fsr-3259	247	10	using	use	VERB
fsr-3259	247	11	annualized	annualize	VERB
fsr-3259	247	12	42	42	NUM
fsr-3259	247	13	y.	y.	PROPN
fsr-3259	247	14	park	park	PROPN
fsr-3259	247	15	/	/	SYM
fsr-3259	247	16	financial	financial	ADJ
fsr-3259	247	17	services	service	NOUN
fsr-3259	247	18	review	review	VERB
fsr-3259	247	19	25	25	NUM
fsr-3259	247	20	(	(	PUNCT
fsr-3259	247	21	2016	2016	NUM
fsr-3259	247	22	)	)	PUNCT
fsr-3259	248	1	29–49	29–49	NUM
fsr-3259	248	2	standard	standard	ADJ
fsr-3259	248	3	deviations	deviation	NOUN
fsr-3259	248	4	of	of	ADP
fsr-3259	248	5	monthly	monthly	ADJ
fsr-3259	248	6	gross	gross	ADJ
fsr-3259	248	7	returns	return	NOUN
fsr-3259	248	8	in	in	ADP
fsr-3259	248	9	table	table	NOUN
fsr-3259	248	10	2	2	NUM
fsr-3259	248	11	and	and	CCONJ
fsr-3259	248	12	the	the	DET
fsr-3259	248	13	average	average	ADJ
fsr-3259	248	14	return	return	NOUN
fsr-3259	248	15	correlations	correlation	NOUN
fsr-3259	248	16	in	in	ADP
fsr-3259	248	17	panel	panel	NOUN
fsr-3259	248	18	a	a	PRON
fsr-3259	248	19	of	of	ADP
fsr-3259	248	20	table	table	NOUN
fsr-3259	248	21	4	4	NUM
fsr-3259	248	22	.	.	PUNCT
fsr-3259	248	23	third	third	ADJ
fsr-3259	248	24	,	,	PUNCT
fsr-3259	248	25	we	we	PRON
fsr-3259	248	26	use	use	VERB
fsr-3259	248	27	a	a	DET
fsr-3259	248	28	risk	risk	NOUN
fsr-3259	248	29	-	-	PUNCT
fsr-3259	248	30	free	free	ADJ
fsr-3259	248	31	rate	rate	NOUN
fsr-3259	248	32	.	.	PUNCT
fsr-3259	249	1	last	last	ADJ
fsr-3259	249	2	,	,	PUNCT
fsr-3259	249	3	we	we	PRON
fsr-3259	249	4	calculate	calculate	VERB
fsr-3259	249	5	a	a	DET
fsr-3259	249	6	portfolio	portfolio	NOUN
fsr-3259	249	7	’s	’s	PART
fsr-3259	249	8	sharpe	sharpe	PROPN
fsr-3259	249	9	ratio	ratio	PROPN
fsr-3259	249	10	net	net	NOUN
fsr-3259	249	11	of	of	ADP
fsr-3259	249	12	expenses	expense	NOUN
fsr-3259	249	13	,	,	PUNCT
fsr-3259	249	14	which	which	PRON
fsr-3259	249	15	is	be	AUX
fsr-3259	249	16	defined	define	VERB
fsr-3259	249	17	by	by	ADP
fsr-3259	249	18	sp	sp	ADP
fsr-3259	249	19	�	�	PROPN
fsr-3259	249	20	�	�	PROPN
fsr-3259	249	21	rp	rp	PROPN
fsr-3259	249	22	�	�	PROPN
fsr-3259	249	23	erp	erp	PROPN
fsr-3259	249	24	�	�	PROPN
fsr-3259	249	25	rf	rf	NOUN
fsr-3259	249	26	�	�	PROPN
fsr-3259	249	27	/	/	SYM
fsr-3259	249	28	�	�	PROPN
fsr-3259	249	29	p	p	NOUN
fsr-3259	249	30	where	where	SCONJ
fsr-3259	249	31	rp	rp	NOUN
fsr-3259	249	32	is	be	AUX
fsr-3259	249	33	a	a	DET
fsr-3259	249	34	portfolio	portfolio	NOUN
fsr-3259	249	35	’s	’s	PART
fsr-3259	249	36	annual	annual	ADJ
fsr-3259	249	37	gross	gross	ADJ
fsr-3259	249	38	return	return	NOUN
fsr-3259	249	39	;	;	PUNCT
fsr-3259	249	40	erp	erp	PROPN
fsr-3259	249	41	is	be	AUX
fsr-3259	249	42	a	a	DET
fsr-3259	249	43	portfolio	portfolio	NOUN
fsr-3259	249	44	’s	’s	PART
fsr-3259	249	45	weighted	weight	VERB
fsr-3259	249	46	expense	expense	NOUN
fsr-3259	249	47	ratio	ratio	NOUN
fsr-3259	249	48	with	with	ADP
fsr-3259	249	49	equal	equal	ADJ
fsr-3259	249	50	weights	weight	NOUN
fsr-3259	249	51	;	;	PUNCT
fsr-3259	249	52	rf	rf	PRON
fsr-3259	249	53	is	be	AUX
fsr-3259	249	54	a	a	DET
fsr-3259	249	55	risk	risk	NOUN
fsr-3259	249	56	-	-	PUNCT
fsr-3259	249	57	free	free	ADJ
fsr-3259	249	58	rate	rate	NOUN
fsr-3259	249	59	of	of	ADP
fsr-3259	249	60	2.57	2.57	NUM
fsr-3259	249	61	%	%	NOUN
fsr-3259	249	62	,	,	PUNCT
fsr-3259	249	63	which	which	PRON
fsr-3259	249	64	is	be	AUX
fsr-3259	249	65	the	the	DET
fsr-3259	249	66	average	average	ADJ
fsr-3259	249	67	rate	rate	NOUN
fsr-3259	249	68	of	of	ADP
fsr-3259	249	69	one	one	NUM
fsr-3259	249	70	month	month	NOUN
fsr-3259	249	71	treasury	treasury	NOUN
fsr-3259	249	72	bills	bill	NOUN
fsr-3259	249	73	for	for	ADP
fsr-3259	249	74	2001–2006	2001–2006	NUM
fsr-3259	249	75	;	;	PUNCT
fsr-3259	249	76	and	and	CCONJ
fsr-3259	249	77	�	�	PROPN
fsr-3259	249	78	p	p	NOUN
fsr-3259	249	79	is	be	AUX
fsr-3259	249	80	a	a	DET
fsr-3259	249	81	portfolio	portfolio	NOUN
fsr-3259	249	82	’s	’s	PART
fsr-3259	249	83	risk	risk	NOUN
fsr-3259	249	84	.	.	PUNCT
fsr-3259	250	1	panels	panel	NOUN
fsr-3259	250	2	b	b	PROPN
fsr-3259	250	3	and	and	CCONJ
fsr-3259	250	4	c	c	PROPN
fsr-3259	250	5	present	present	ADJ
fsr-3259	250	6	changes	change	NOUN
fsr-3259	250	7	in	in	ADP
fsr-3259	250	8	a	a	DET
fsr-3259	250	9	portfolio	portfolio	NOUN
fsr-3259	250	10	’s	’s	PART
fsr-3259	250	11	expense	expense	NOUN
fsr-3259	250	12	ratio	ratio	NOUN
fsr-3259	250	13	,	,	PUNCT
fsr-3259	250	14	risk	risk	NOUN
fsr-3259	250	15	,	,	PUNCT
fsr-3259	250	16	and	and	CCONJ
fsr-3259	250	17	sharpe	sharpe	PROPN
fsr-3259	250	18	ratio	ratio	NOUN
fsr-3259	250	19	because	because	SCONJ
fsr-3259	250	20	of	of	ADP
fsr-3259	250	21	an	an	DET
fsr-3259	250	22	increase	increase	NOUN
fsr-3259	250	23	in	in	ADP
fsr-3259	250	24	fund	fund	NOUN
fsr-3259	250	25	commonality	commonality	NOUN
fsr-3259	250	26	such	such	ADJ
fsr-3259	250	27	as	as	ADP
fsr-3259	250	28	a	a	DET
fsr-3259	250	29	10	10	NUM
fsr-3259	250	30	%	%	NOUN
fsr-3259	250	31	increase	increase	NOUN
fsr-3259	250	32	in	in	ADP
fsr-3259	250	33	common	common	ADJ
fsr-3259	250	34	stock	stock	NOUN
fsr-3259	250	35	table	table	NOUN
fsr-3259	250	36	5	5	NUM
fsr-3259	250	37	increased	increase	VERB
fsr-3259	250	38	fund	fund	NOUN
fsr-3259	250	39	commonalities	commonality	NOUN
fsr-3259	250	40	and	and	CCONJ
fsr-3259	250	41	risk	risk	NOUN
fsr-3259	250	42	-	-	PUNCT
fsr-3259	250	43	adjusted	adjust	VERB
fsr-3259	250	44	returns	return	NOUN
fsr-3259	250	45	panel	panel	NOUN
fsr-3259	250	46	a	a	PRON
fsr-3259	250	47	:	:	PUNCT
fsr-3259	250	48	annual	annual	ADJ
fsr-3259	250	49	gross	gross	ADJ
fsr-3259	250	50	returns	return	NOUN
fsr-3259	250	51	,	,	PUNCT
fsr-3259	250	52	expense	expense	NOUN
fsr-3259	250	53	ratios	ratio	NOUN
fsr-3259	250	54	,	,	PUNCT
fsr-3259	250	55	risks	risk	NOUN
fsr-3259	250	56	,	,	PUNCT
fsr-3259	250	57	and	and	CCONJ
fsr-3259	250	58	sharpe	sharpe	PROPN
fsr-3259	250	59	ratios	ratio	NOUN
fsr-3259	250	60	of	of	ADP
fsr-3259	250	61	portfolios	portfolio	NOUN
fsr-3259	250	62	constructed	construct	VERB
fsr-3259	250	63	with	with	ADP
fsr-3259	250	64	different	different	ADJ
fsr-3259	250	65	investment	investment	NOUN
fsr-3259	250	66	objective	objective	ADJ
fsr-3259	250	67	funds	fund	NOUN
fsr-3259	250	68	portfolio	portfolio	NOUN
fsr-3259	250	69	annual	annual	ADJ
fsr-3259	250	70	gross	gross	ADJ
fsr-3259	250	71	return	return	NOUN
fsr-3259	250	72	(	(	PUNCT
fsr-3259	250	73	rp	rp	NOUN
fsr-3259	250	74	)	)	PUNCT
fsr-3259	250	75	portfolio	portfolio	NOUN
fsr-3259	250	76	expense	expense	NOUN
fsr-3259	250	77	ratio	ratio	NOUN
fsr-3259	250	78	(	(	PUNCT
fsr-3259	250	79	erp	erp	NOUN
fsr-3259	250	80	)	)	PUNCT
fsr-3259	250	81	portfolio	portfolio	NOUN
fsr-3259	250	82	risk	risk	NOUN
fsr-3259	250	83	(	(	PUNCT
fsr-3259	250	84	�	�	NOUN
fsr-3259	250	85	p	p	NOUN
fsr-3259	250	86	)	)	PUNCT
fsr-3259	250	87	portfolio	portfolio	NOUN
fsr-3259	250	88	sharpe	sharpe	PROPN
fsr-3259	250	89	ratio	ratio	PROPN
fsr-3259	250	90	(	(	PUNCT
fsr-3259	250	91	sp	sp	NOUN
fsr-3259	250	92	)	)	PUNCT
fsr-3259	250	93	ag	ag	PROPN
fsr-3259	250	94	-	-	PUNCT
fsr-3259	250	95	gi	gi	PROPN
fsr-3259	250	96	9.33	9.33	NUM
fsr-3259	250	97	%	%	NOUN
fsr-3259	250	98	1.19	1.19	NUM
fsr-3259	250	99	%	%	NOUN
fsr-3259	250	100	14.96	14.96	NUM
fsr-3259	250	101	%	%	NOUN
fsr-3259	250	102	0.372	0.372	NUM
fsr-3259	250	103	ag	ag	PROPN
fsr-3259	250	104	-	-	PROPN
fsr-3259	250	105	lg	lg	NOUN
fsr-3259	250	106	8.38	8.38	NUM
fsr-3259	250	107	%	%	NOUN
fsr-3259	250	108	1.24	1.24	NUM
fsr-3259	250	109	%	%	NOUN
fsr-3259	250	110	17.25	17.25	NUM
fsr-3259	250	111	%	%	NOUN
fsr-3259	250	112	0.265	0.265	NUM
fsr-3259	250	113	gi	gi	NOUN
fsr-3259	250	114	-	-	PUNCT
fsr-3259	250	115	lg	lg	NOUN
fsr-3259	250	116	6.65	6.65	NUM
fsr-3259	250	117	%	%	NOUN
fsr-3259	250	118	1.10	1.10	NUM
fsr-3259	250	119	%	%	NOUN
fsr-3259	250	120	14.44	14.44	NUM
fsr-3259	250	121	%	%	NOUN
fsr-3259	250	122	0.207	0.207	NUM
fsr-3259	250	123	notes	note	NOUN
fsr-3259	250	124	:	:	PUNCT
fsr-3259	250	125	the	the	DET
fsr-3259	250	126	panel	panel	NOUN
fsr-3259	250	127	presents	present	VERB
fsr-3259	250	128	a	a	DET
fsr-3259	250	129	set	set	NOUN
fsr-3259	250	130	of	of	ADP
fsr-3259	250	131	assumptions	assumption	NOUN
fsr-3259	250	132	on	on	ADP
fsr-3259	250	133	three	three	NUM
fsr-3259	250	134	different	different	ADJ
fsr-3259	250	135	portfolios	portfolio	NOUN
fsr-3259	250	136	of	of	ADP
fsr-3259	250	137	ag	ag	PROPN
fsr-3259	250	138	-	-	PUNCT
fsr-3259	250	139	gi	gi	PROPN
fsr-3259	250	140	,	,	PUNCT
fsr-3259	250	141	ag	ag	PROPN
fsr-3259	250	142	-	-	PROPN
fsr-3259	250	143	lg	lg	NOUN
fsr-3259	250	144	,	,	PUNCT
fsr-3259	250	145	and	and	CCONJ
fsr-3259	250	146	gi	gi	NOUN
fsr-3259	250	147	-	-	PUNCT
fsr-3259	250	148	lg	lg	NOUN
fsr-3259	250	149	funds	fund	NOUN
fsr-3259	250	150	.	.	PUNCT
fsr-3259	251	1	ag	ag	PROPN
fsr-3259	251	2	,	,	PUNCT
fsr-3259	251	3	gi	gi	NOUN
fsr-3259	251	4	,	,	PUNCT
fsr-3259	251	5	and	and	CCONJ
fsr-3259	251	6	lg	lg	NOUN
fsr-3259	251	7	indicate	indicate	VERB
fsr-3259	251	8	fund	fund	NOUN
fsr-3259	251	9	investment	investment	NOUN
fsr-3259	251	10	objectives	objective	NOUN
fsr-3259	251	11	of	of	ADP
fsr-3259	251	12	aggressive	aggressive	ADJ
fsr-3259	251	13	growth	growth	NOUN
fsr-3259	251	14	,	,	PUNCT
fsr-3259	251	15	growth	growth	NOUN
fsr-3259	251	16	and	and	CCONJ
fsr-3259	251	17	income	income	NOUN
fsr-3259	251	18	,	,	PUNCT
fsr-3259	251	19	and	and	CCONJ
fsr-3259	251	20	long	long	ADJ
fsr-3259	251	21	-	-	PUNCT
fsr-3259	251	22	term	term	NOUN
fsr-3259	251	23	growth	growth	NOUN
fsr-3259	251	24	,	,	PUNCT
fsr-3259	251	25	respectively	respectively	ADV
fsr-3259	251	26	.	.	PUNCT
fsr-3259	252	1	each	each	DET
fsr-3259	252	2	portfolio	portfolio	NOUN
fsr-3259	252	3	consists	consist	VERB
fsr-3259	252	4	of	of	ADP
fsr-3259	252	5	two	two	NUM
fsr-3259	252	6	different	different	ADJ
fsr-3259	252	7	investment	investment	NOUN
fsr-3259	252	8	objective	objective	ADJ
fsr-3259	252	9	funds	fund	NOUN
fsr-3259	252	10	with	with	ADP
fsr-3259	252	11	equal	equal	ADJ
fsr-3259	252	12	weights	weight	NOUN
fsr-3259	252	13	.	.	PUNCT
fsr-3259	253	1	panel	panel	NOUN
fsr-3259	253	2	b	b	NOUN
fsr-3259	253	3	:	:	PUNCT
fsr-3259	253	4	common	common	ADJ
fsr-3259	253	5	stock	stock	NOUN
fsr-3259	253	6	holding	holding	NOUN
fsr-3259	253	7	increased	increase	VERB
fsr-3259	253	8	by	by	ADP
fsr-3259	253	9	10	10	NUM
fsr-3259	253	10	%	%	NOUN
fsr-3259	253	11	portfolio	portfolio	NOUN
fsr-3259	253	12	:	:	PUNCT
fsr-3259	253	13	ag	ag	PROPN
fsr-3259	253	14	-	-	PUNCT
fsr-3259	253	15	gi	gi	PROPN
fsr-3259	253	16	ag	ag	PROPN
fsr-3259	253	17	-	-	PROPN
fsr-3259	253	18	lg	lg	PROPN
fsr-3259	253	19	gi	gi	NOUN
fsr-3259	253	20	-	-	PUNCT
fsr-3259	253	21	lg	lg	NOUN
fsr-3259	253	22	(	(	PUNCT
fsr-3259	253	23	1	1	NUM
fsr-3259	253	24	)	)	PUNCT
fsr-3259	253	25	(	(	PUNCT
fsr-3259	253	26	2	2	NUM
fsr-3259	253	27	)	)	PUNCT
fsr-3259	253	28	(	(	PUNCT
fsr-3259	253	29	1	1	X
fsr-3259	253	30	)	)	PUNCT
fsr-3259	253	31	(	(	PUNCT
fsr-3259	253	32	2	2	NUM
fsr-3259	253	33	)	)	PUNCT
fsr-3259	253	34	(	(	PUNCT
fsr-3259	253	35	1	1	X
fsr-3259	253	36	)	)	PUNCT
fsr-3259	253	37	(	(	PUNCT
fsr-3259	253	38	2	2	X
fsr-3259	253	39	)	)	PUNCT
fsr-3259	253	40	�	�	NOUN
fsr-3259	253	41	portfolio	portfolio	NOUN
fsr-3259	253	42	expense	expense	NOUN
fsr-3259	253	43	ratio	ratio	PROPN
fsr-3259	253	44	�	�	PROPN
fsr-3259	253	45	1.14	1.14	NUM
fsr-3259	253	46	%	%	NOUN
fsr-3259	253	47	�	�	PROPN
fsr-3259	253	48	1.14	1.14	NUM
fsr-3259	253	49	%	%	NOUN
fsr-3259	253	50	�	�	PROPN
fsr-3259	253	51	1.15	1.15	NUM
fsr-3259	253	52	%	%	NOUN
fsr-3259	253	53	�	�	PROPN
fsr-3259	253	54	1.15	1.15	NUM
fsr-3259	253	55	%	%	NOUN
fsr-3259	253	56	�	�	PROPN
fsr-3259	253	57	1.14	1.14	NUM
fsr-3259	253	58	%	%	NOUN
fsr-3259	253	59	�	�	PROPN
fsr-3259	253	60	1.14	1.14	NUM
fsr-3259	253	61	%	%	NOUN
fsr-3259	253	62	�	�	NOUN
fsr-3259	253	63	portfolio	portfolio	NOUN
fsr-3259	253	64	risk	risk	NOUN
fsr-3259	253	65	0.36	0.36	NUM
fsr-3259	253	66	%	%	NOUN
fsr-3259	253	67	0.45	0.45	NUM
fsr-3259	253	68	%	%	NOUN
fsr-3259	253	69	0.22	0.22	NUM
fsr-3259	253	70	%	%	NOUN
fsr-3259	253	71	�	�	PROPN
fsr-3259	253	72	sharpe	sharpe	PROPN
fsr-3259	253	73	ratio	ratio	NOUN
fsr-3259	253	74	0.24	0.24	NUM
fsr-3259	253	75	%	%	NOUN
fsr-3259	253	76	�	�	NOUN
fsr-3259	253	77	0.12	0.12	NUM
fsr-3259	253	78	%	%	NOUN
fsr-3259	253	79	0.31	0.31	NUM
fsr-3259	253	80	%	%	NOUN
fsr-3259	253	81	�	�	NOUN
fsr-3259	253	82	0.14	0.14	NUM
fsr-3259	253	83	%	%	NOUN
fsr-3259	253	84	0.42	0.42	NUM
fsr-3259	253	85	%	%	NOUN
fsr-3259	253	86	0.20	0.20	NUM
fsr-3259	253	87	%	%	NOUN
fsr-3259	253	88	additional	additional	ADJ
fsr-3259	253	89	gross	gross	ADJ
fsr-3259	253	90	return	return	NOUN
fsr-3259	253	91	(	(	PUNCT
fsr-3259	253	92	basis	basis	NOUN
fsr-3259	253	93	points	point	NOUN
fsr-3259	253	94	)	)	PUNCT
fsr-3259	253	95	2.0	2.0	NUM
fsr-3259	253	96	2.1	2.1	NUM
fsr-3259	253	97	0.7	0.7	NUM
fsr-3259	253	98	notes	note	NOUN
fsr-3259	253	99	:	:	PUNCT
fsr-3259	253	100	the	the	DET
fsr-3259	253	101	panel	panel	NOUN
fsr-3259	253	102	reports	report	VERB
fsr-3259	253	103	changes	change	NOUN
fsr-3259	253	104	in	in	ADP
fsr-3259	253	105	a	a	DET
fsr-3259	253	106	portfolio	portfolio	NOUN
fsr-3259	253	107	’s	’s	PART
fsr-3259	253	108	expense	expense	NOUN
fsr-3259	253	109	ratio	ratio	NOUN
fsr-3259	253	110	,	,	PUNCT
fsr-3259	253	111	risk	risk	NOUN
fsr-3259	253	112	,	,	PUNCT
fsr-3259	253	113	and	and	CCONJ
fsr-3259	253	114	sharpe	sharpe	PROPN
fsr-3259	253	115	ratio	ratio	NOUN
fsr-3259	253	116	due	due	ADP
fsr-3259	253	117	to	to	ADP
fsr-3259	253	118	a	a	DET
fsr-3259	253	119	10	10	NUM
fsr-3259	253	120	%	%	NOUN
fsr-3259	253	121	increase	increase	NOUN
fsr-3259	253	122	in	in	ADP
fsr-3259	253	123	common	common	ADJ
fsr-3259	253	124	stock	stock	NOUN
fsr-3259	253	125	holding	holding	NOUN
fsr-3259	253	126	between	between	ADP
fsr-3259	253	127	funds	fund	NOUN
fsr-3259	253	128	in	in	ADP
fsr-3259	253	129	a	a	DET
fsr-3259	253	130	portfolio	portfolio	NOUN
fsr-3259	253	131	.	.	PUNCT
fsr-3259	254	1	additional	additional	ADJ
fsr-3259	254	2	gross	gross	ADJ
fsr-3259	254	3	return	return	NOUN
fsr-3259	254	4	indicates	indicate	VERB
fsr-3259	254	5	how	how	SCONJ
fsr-3259	254	6	much	much	ADJ
fsr-3259	254	7	additional	additional	ADJ
fsr-3259	254	8	gross	gross	ADJ
fsr-3259	254	9	return	return	NOUN
fsr-3259	254	10	is	be	AUX
fsr-3259	254	11	needed	need	VERB
fsr-3259	254	12	to	to	PART
fsr-3259	254	13	have	have	VERB
fsr-3259	254	14	the	the	DET
fsr-3259	254	15	same	same	ADJ
fsr-3259	254	16	increase	increase	NOUN
fsr-3259	254	17	in	in	ADP
fsr-3259	254	18	a	a	DET
fsr-3259	254	19	sharpe	sharpe	NOUN
fsr-3259	254	20	ratio	ratio	NOUN
fsr-3259	254	21	(	(	PUNCT
fsr-3259	254	22	reported	report	VERB
fsr-3259	254	23	in	in	ADP
fsr-3259	254	24	column	column	NOUN
fsr-3259	254	25	1	1	NUM
fsr-3259	254	26	for	for	ADP
fsr-3259	254	27	each	each	DET
fsr-3259	254	28	portfolio	portfolio	NOUN
fsr-3259	254	29	)	)	PUNCT
fsr-3259	254	30	caused	cause	VERB
fsr-3259	254	31	by	by	ADP
fsr-3259	254	32	a	a	DET
fsr-3259	254	33	decrease	decrease	NOUN
fsr-3259	254	34	in	in	ADP
fsr-3259	254	35	a	a	DET
fsr-3259	254	36	portfolio	portfolio	NOUN
fsr-3259	254	37	’s	’s	PART
fsr-3259	254	38	expense	expense	NOUN
fsr-3259	254	39	ratio	ratio	NOUN
fsr-3259	254	40	.	.	PUNCT
fsr-3259	255	1	panel	panel	NOUN
fsr-3259	255	2	c	c	NOUN
fsr-3259	255	3	:	:	PUNCT
fsr-3259	255	4	multi	multi	ADJ
fsr-3259	255	5	-	-	ADJ
fsr-3259	255	6	fund	fund	ADJ
fsr-3259	255	7	management	management	NOUN
fsr-3259	255	8	by	by	ADP
fsr-3259	255	9	exactly	exactly	ADV
fsr-3259	255	10	the	the	DET
fsr-3259	255	11	same	same	ADJ
fsr-3259	255	12	fund	fund	NOUN
fsr-3259	255	13	managers	manager	NOUN
fsr-3259	255	14	portfolio	portfolio	NOUN
fsr-3259	255	15	:	:	PUNCT
fsr-3259	255	16	ag	ag	PROPN
fsr-3259	255	17	-	-	PUNCT
fsr-3259	255	18	gi	gi	PROPN
fsr-3259	255	19	ag	ag	PROPN
fsr-3259	255	20	-	-	PROPN
fsr-3259	255	21	lg	lg	PROPN
fsr-3259	255	22	gi	gi	NOUN
fsr-3259	255	23	-	-	PUNCT
fsr-3259	255	24	lg	lg	NOUN
fsr-3259	255	25	(	(	PUNCT
fsr-3259	255	26	1	1	NUM
fsr-3259	255	27	)	)	PUNCT
fsr-3259	255	28	(	(	PUNCT
fsr-3259	255	29	2	2	NUM
fsr-3259	255	30	)	)	PUNCT
fsr-3259	255	31	(	(	PUNCT
fsr-3259	255	32	1	1	X
fsr-3259	255	33	)	)	PUNCT
fsr-3259	255	34	(	(	PUNCT
fsr-3259	255	35	2	2	NUM
fsr-3259	255	36	)	)	PUNCT
fsr-3259	255	37	(	(	PUNCT
fsr-3259	255	38	1	1	X
fsr-3259	255	39	)	)	PUNCT
fsr-3259	255	40	(	(	PUNCT
fsr-3259	255	41	2	2	X
fsr-3259	255	42	)	)	PUNCT
fsr-3259	255	43	�	�	NOUN
fsr-3259	255	44	portfolio	portfolio	NOUN
fsr-3259	255	45	expense	expense	NOUN
fsr-3259	255	46	ratio	ratio	PROPN
fsr-3259	255	47	�	�	PROPN
fsr-3259	255	48	4.33	4.33	NUM
fsr-3259	255	49	%	%	NOUN
fsr-3259	255	50	�	�	PROPN
fsr-3259	255	51	4.33	4.33	NUM
fsr-3259	255	52	%	%	NOUN
fsr-3259	255	53	�	�	NOUN
fsr-3259	255	54	4.36	4.36	NUM
fsr-3259	255	55	%	%	NOUN
fsr-3259	255	56	�	�	NOUN
fsr-3259	255	57	4.36	4.36	NUM
fsr-3259	255	58	%	%	NOUN
fsr-3259	255	59	�	�	NOUN
fsr-3259	255	60	4.35	4.35	NUM
fsr-3259	255	61	%	%	NOUN
fsr-3259	255	62	�	�	PROPN
fsr-3259	255	63	4.35	4.35	NUM
fsr-3259	255	64	%	%	NOUN
fsr-3259	255	65	�	�	NOUN
fsr-3259	255	66	portfolio	portfolio	NOUN
fsr-3259	255	67	risk	risk	NOUN
fsr-3259	255	68	1.73	1.73	NUM
fsr-3259	255	69	%	%	NOUN
fsr-3259	255	70	2.30	2.30	NUM
fsr-3259	255	71	%	%	NOUN
fsr-3259	255	72	1.27	1.27	NUM
fsr-3259	255	73	%	%	NOUN
fsr-3259	255	74	�	�	PROPN
fsr-3259	255	75	sharpe	sharpe	PROPN
fsr-3259	255	76	ratio	ratio	NOUN
fsr-3259	255	77	0.92	0.92	NUM
fsr-3259	255	78	%	%	NOUN
fsr-3259	255	79	�	�	PROPN
fsr-3259	255	80	0.80	0.80	NUM
fsr-3259	255	81	%	%	NOUN
fsr-3259	255	82	1.18	1.18	NUM
fsr-3259	255	83	%	%	NOUN
fsr-3259	255	84	�	�	PROPN
fsr-3259	255	85	1.09	1.09	NUM
fsr-3259	255	86	%	%	NOUN
fsr-3259	255	87	1.60	1.60	NUM
fsr-3259	255	88	%	%	NOUN
fsr-3259	255	89	0.32	0.32	NUM
fsr-3259	255	90	%	%	NOUN
fsr-3259	255	91	additional	additional	ADJ
fsr-3259	255	92	gross	gross	ADJ
fsr-3259	255	93	return	return	NOUN
fsr-3259	255	94	(	(	PUNCT
fsr-3259	255	95	basis	basis	NOUN
fsr-3259	255	96	points	point	NOUN
fsr-3259	255	97	)	)	PUNCT
fsr-3259	255	98	9.7	9.7	NUM
fsr-3259	255	99	10.6	10.6	NUM
fsr-3259	255	100	3.9	3.9	NUM
fsr-3259	255	101	notes	note	NOUN
fsr-3259	255	102	:	:	PUNCT
fsr-3259	255	103	the	the	DET
fsr-3259	255	104	panel	panel	NOUN
fsr-3259	255	105	reports	report	VERB
fsr-3259	255	106	changes	change	NOUN
fsr-3259	255	107	in	in	ADP
fsr-3259	255	108	a	a	DET
fsr-3259	255	109	portfolio	portfolio	NOUN
fsr-3259	255	110	’s	’s	PART
fsr-3259	255	111	expense	expense	NOUN
fsr-3259	255	112	ratio	ratio	NOUN
fsr-3259	255	113	,	,	PUNCT
fsr-3259	255	114	risk	risk	NOUN
fsr-3259	255	115	,	,	PUNCT
fsr-3259	255	116	and	and	CCONJ
fsr-3259	255	117	sharpe	sharpe	PROPN
fsr-3259	255	118	ratio	ratio	NOUN
fsr-3259	255	119	when	when	SCONJ
fsr-3259	255	120	funds	fund	NOUN
fsr-3259	255	121	in	in	ADP
fsr-3259	255	122	a	a	DET
fsr-3259	255	123	portfolio	portfolio	NOUN
fsr-3259	255	124	are	be	AUX
fsr-3259	255	125	managed	manage	VERB
fsr-3259	255	126	by	by	ADP
fsr-3259	255	127	exactly	exactly	ADV
fsr-3259	255	128	the	the	DET
fsr-3259	255	129	same	same	ADJ
fsr-3259	255	130	fund	fund	NOUN
fsr-3259	255	131	managers	manager	NOUN
fsr-3259	255	132	.	.	PUNCT
fsr-3259	256	1	additional	additional	ADJ
fsr-3259	256	2	gross	gross	ADJ
fsr-3259	256	3	return	return	NOUN
fsr-3259	256	4	indicates	indicate	VERB
fsr-3259	256	5	how	how	SCONJ
fsr-3259	256	6	much	much	ADJ
fsr-3259	256	7	additional	additional	ADJ
fsr-3259	256	8	gross	gross	ADJ
fsr-3259	256	9	return	return	NOUN
fsr-3259	256	10	is	be	AUX
fsr-3259	256	11	needed	need	VERB
fsr-3259	256	12	to	to	PART
fsr-3259	256	13	have	have	VERB
fsr-3259	256	14	the	the	DET
fsr-3259	256	15	same	same	ADJ
fsr-3259	256	16	increase	increase	NOUN
fsr-3259	256	17	in	in	ADP
fsr-3259	256	18	a	a	DET
fsr-3259	256	19	sharpe	sharpe	NOUN
fsr-3259	256	20	ratio	ratio	NOUN
fsr-3259	256	21	(	(	PUNCT
fsr-3259	256	22	reported	report	VERB
fsr-3259	256	23	in	in	ADP
fsr-3259	256	24	column	column	NOUN
fsr-3259	256	25	1	1	NUM
fsr-3259	256	26	for	for	ADP
fsr-3259	256	27	each	each	DET
fsr-3259	256	28	portfolio	portfolio	NOUN
fsr-3259	256	29	)	)	PUNCT
fsr-3259	256	30	caused	cause	VERB
fsr-3259	256	31	by	by	ADP
fsr-3259	256	32	a	a	DET
fsr-3259	256	33	decrease	decrease	NOUN
fsr-3259	256	34	in	in	ADP
fsr-3259	256	35	a	a	DET
fsr-3259	256	36	portfolio	portfolio	NOUN
fsr-3259	256	37	’s	’s	PART
fsr-3259	256	38	expense	expense	NOUN
fsr-3259	256	39	ratio	ratio	NOUN
fsr-3259	256	40	.	.	PUNCT
fsr-3259	256	41	43y	43y	NOUN
fsr-3259	256	42	.	.	PUNCT
fsr-3259	257	1	park	park	NOUN
fsr-3259	257	2	/	/	SYM
fsr-3259	257	3	financial	financial	ADJ
fsr-3259	257	4	services	service	NOUN
fsr-3259	257	5	review	review	VERB
fsr-3259	257	6	25	25	NUM
fsr-3259	257	7	(	(	PUNCT
fsr-3259	257	8	2016	2016	NUM
fsr-3259	257	9	)	)	PUNCT
fsr-3259	257	10	29–49	29–49	NUM
fsr-3259	257	11	holdings	holding	NOUN
fsr-3259	257	12	(	(	PUNCT
fsr-3259	257	13	panel	panel	NOUN
fsr-3259	257	14	b	b	NOUN
fsr-3259	257	15	)	)	PUNCT
fsr-3259	257	16	or	or	CCONJ
fsr-3259	257	17	multi	multi	ADJ
fsr-3259	257	18	-	-	ADJ
fsr-3259	257	19	fund	fund	ADJ
fsr-3259	257	20	management	management	NOUN
fsr-3259	257	21	by	by	ADP
fsr-3259	257	22	exactly	exactly	ADV
fsr-3259	257	23	the	the	DET
fsr-3259	257	24	same	same	ADJ
fsr-3259	257	25	fund	fund	NOUN
fsr-3259	257	26	managers	manager	NOUN
fsr-3259	257	27	(	(	PUNCT
fsr-3259	257	28	panel	panel	NOUN
fsr-3259	257	29	c	c	NOUN
fsr-3259	257	30	)	)	PUNCT
fsr-3259	257	31	.	.	PUNCT
fsr-3259	258	1	the	the	DET
fsr-3259	258	2	results	result	NOUN
fsr-3259	258	3	of	of	ADP
fsr-3259	258	4	portfolios	portfolio	NOUN
fsr-3259	258	5	of	of	ADP
fsr-3259	258	6	ag	ag	PROPN
fsr-3259	258	7	-	-	PUNCT
fsr-3259	258	8	gi	gi	PROPN
fsr-3259	258	9	,	,	PUNCT
fsr-3259	258	10	ag	ag	PROPN
fsr-3259	258	11	-	-	PROPN
fsr-3259	258	12	lg	lg	NOUN
fsr-3259	258	13	,	,	PUNCT
fsr-3259	258	14	and	and	CCONJ
fsr-3259	258	15	gi	gi	X
fsr-3259	258	16	-	-	PUNCT
fsr-3259	258	17	lg	lg	NOUN
fsr-3259	258	18	funds	fund	NOUN
fsr-3259	258	19	are	be	AUX
fsr-3259	258	20	obtained	obtain	VERB
fsr-3259	258	21	by	by	ADP
fsr-3259	258	22	combining	combine	VERB
fsr-3259	258	23	the	the	DET
fsr-3259	258	24	assumptions	assumption	NOUN
fsr-3259	258	25	in	in	ADP
fsr-3259	258	26	panel	panel	NOUN
fsr-3259	258	27	a	a	PRON
fsr-3259	258	28	and	and	CCONJ
fsr-3259	258	29	the	the	DET
fsr-3259	258	30	regression	regression	NOUN
fsr-3259	258	31	results	result	VERB
fsr-3259	258	32	in	in	ADP
fsr-3259	258	33	tables	table	NOUN
fsr-3259	258	34	3	3	NUM
fsr-3259	258	35	and	and	CCONJ
fsr-3259	258	36	4	4	NUM
fsr-3259	258	37	.	.	X
fsr-3259	259	1	we	we	PRON
fsr-3259	259	2	compute	compute	VERB
fsr-3259	259	3	a	a	DET
fsr-3259	259	4	change	change	NOUN
fsr-3259	259	5	in	in	ADP
fsr-3259	259	6	a	a	DET
fsr-3259	259	7	portfolio	portfolio	NOUN
fsr-3259	259	8	’s	’s	PART
fsr-3259	259	9	expense	expense	NOUN
fsr-3259	259	10	ratio	ratio	NOUN
fsr-3259	259	11	,	,	PUNCT
fsr-3259	259	12	using	use	VERB
fsr-3259	259	13	the	the	DET
fsr-3259	259	14	results	result	NOUN
fsr-3259	259	15	on	on	ADP
fsr-3259	259	16	fund	fund	NOUN
fsr-3259	259	17	operating	operating	NOUN
fsr-3259	259	18	expenses	expense	NOUN
fsr-3259	259	19	(	(	PUNCT
fsr-3259	259	20	reported	report	VERB
fsr-3259	259	21	with	with	ADP
fsr-3259	259	22	year	year	NOUN
fsr-3259	259	23	and	and	CCONJ
fsr-3259	259	24	family	family	NOUN
fsr-3259	259	25	fixed	fix	VERB
fsr-3259	259	26	effects	effect	NOUN
fsr-3259	259	27	)	)	PUNCT
fsr-3259	259	28	in	in	ADP
fsr-3259	259	29	column	column	NOUN
fsr-3259	259	30	(	(	PUNCT
fsr-3259	259	31	2	2	NUM
fsr-3259	259	32	)	)	PUNCT
fsr-3259	259	33	of	of	ADP
fsr-3259	259	34	table	table	NOUN
fsr-3259	259	35	3	3	NUM
fsr-3259	259	36	and	and	CCONJ
fsr-3259	259	37	assuming	assume	VERB
fsr-3259	259	38	that	that	SCONJ
fsr-3259	259	39	a	a	DET
fsr-3259	259	40	12b-1	12b-1	NUM
fsr-3259	259	41	fee	fee	NOUN
fsr-3259	259	42	is	be	AUX
fsr-3259	259	43	not	not	PART
fsr-3259	259	44	affected	affect	VERB
fsr-3259	259	45	by	by	ADP
fsr-3259	259	46	a	a	DET
fsr-3259	259	47	change	change	NOUN
fsr-3259	259	48	in	in	ADP
fsr-3259	259	49	fund	fund	NOUN
fsr-3259	259	50	commonality.11	commonality.11	PROPN
fsr-3259	259	51	next	next	ADV
fsr-3259	259	52	,	,	PUNCT
fsr-3259	259	53	we	we	PRON
fsr-3259	259	54	calculate	calculate	VERB
fsr-3259	259	55	a	a	DET
fsr-3259	259	56	change	change	NOUN
fsr-3259	259	57	in	in	ADP
fsr-3259	259	58	a	a	DET
fsr-3259	259	59	portfolio	portfolio	NOUN
fsr-3259	259	60	’s	’s	PART
fsr-3259	259	61	risk	risk	NOUN
fsr-3259	259	62	,	,	PUNCT
fsr-3259	259	63	using	use	VERB
fsr-3259	259	64	the	the	DET
fsr-3259	259	65	results	result	NOUN
fsr-3259	259	66	on	on	ADP
fsr-3259	259	67	return	return	VERB
fsr-3259	259	68	residual	residual	ADJ
fsr-3259	259	69	correlations	correlation	NOUN
fsr-3259	259	70	(	(	PUNCT
fsr-3259	259	71	reported	report	VERB
fsr-3259	259	72	with	with	ADP
fsr-3259	259	73	family	family	NOUN
fsr-3259	259	74	fixed	fix	VERB
fsr-3259	259	75	effects	effect	NOUN
fsr-3259	259	76	)	)	PUNCT
fsr-3259	259	77	in	in	ADP
fsr-3259	259	78	column	column	NOUN
fsr-3259	259	79	(	(	PUNCT
fsr-3259	259	80	6	6	NUM
fsr-3259	259	81	)	)	PUNCT
fsr-3259	259	82	of	of	ADP
fsr-3259	259	83	panel	panel	NOUN
fsr-3259	259	84	b	b	NOUN
fsr-3259	259	85	,	,	PUNCT
fsr-3259	259	86	table	table	NOUN
fsr-3259	259	87	4	4	NUM
fsr-3259	259	88	.	.	PUNCT
fsr-3259	259	89	to	to	PART
fsr-3259	259	90	investigate	investigate	VERB
fsr-3259	259	91	a	a	DET
fsr-3259	259	92	change	change	NOUN
fsr-3259	259	93	in	in	ADP
fsr-3259	259	94	a	a	DET
fsr-3259	259	95	sharpe	sharpe	PROPN
fsr-3259	259	96	ratio	ratio	PROPN
fsr-3259	259	97	net	net	NOUN
fsr-3259	259	98	of	of	ADP
fsr-3259	259	99	expenses	expense	NOUN
fsr-3259	259	100	(	(	PUNCT
fsr-3259	259	101	panels	panel	NOUN
fsr-3259	259	102	b	b	PROPN
fsr-3259	259	103	and	and	CCONJ
fsr-3259	259	104	c	c	NOUN
fsr-3259	259	105	,	,	PUNCT
fsr-3259	259	106	table	table	NOUN
fsr-3259	259	107	5	5	NUM
fsr-3259	259	108	)	)	PUNCT
fsr-3259	259	109	,	,	PUNCT
fsr-3259	259	110	we	we	PRON
fsr-3259	259	111	examine	examine	VERB
fsr-3259	259	112	two	two	NUM
fsr-3259	259	113	cases	case	NOUN
fsr-3259	259	114	:	:	PUNCT
fsr-3259	259	115	one	one	NUM
fsr-3259	259	116	considers	consider	VERB
fsr-3259	259	117	only	only	ADV
fsr-3259	259	118	a	a	DET
fsr-3259	259	119	decrease	decrease	NOUN
fsr-3259	259	120	in	in	ADP
fsr-3259	259	121	a	a	DET
fsr-3259	259	122	portfolio	portfolio	NOUN
fsr-3259	259	123	’s	’s	PART
fsr-3259	259	124	expense	expense	NOUN
fsr-3259	259	125	ratio	ratio	NOUN
fsr-3259	259	126	(	(	PUNCT
fsr-3259	259	127	column	column	NOUN
fsr-3259	259	128	1	1	NUM
fsr-3259	259	129	)	)	PUNCT
fsr-3259	259	130	,	,	PUNCT
fsr-3259	259	131	and	and	CCONJ
fsr-3259	259	132	the	the	DET
fsr-3259	259	133	other	other	ADJ
fsr-3259	259	134	considers	consider	VERB
fsr-3259	259	135	both	both	CCONJ
fsr-3259	259	136	a	a	DET
fsr-3259	259	137	decrease	decrease	NOUN
fsr-3259	259	138	in	in	ADP
fsr-3259	259	139	a	a	DET
fsr-3259	259	140	portfolio	portfolio	NOUN
fsr-3259	259	141	’s	’s	PART
fsr-3259	259	142	expense	expense	NOUN
fsr-3259	259	143	ratio	ratio	NOUN
fsr-3259	259	144	and	and	CCONJ
fsr-3259	259	145	an	an	DET
fsr-3259	259	146	increase	increase	NOUN
fsr-3259	259	147	in	in	ADP
fsr-3259	259	148	a	a	DET
fsr-3259	259	149	portfolio	portfolio	NOUN
fsr-3259	259	150	’s	’s	PART
fsr-3259	259	151	risk	risk	NOUN
fsr-3259	259	152	(	(	PUNCT
fsr-3259	259	153	column	column	NOUN
fsr-3259	259	154	2	2	NUM
fsr-3259	259	155	)	)	PUNCT
fsr-3259	259	156	.	.	PUNCT
fsr-3259	260	1	the	the	DET
fsr-3259	260	2	first	first	ADJ
fsr-3259	260	3	case	case	NOUN
fsr-3259	260	4	is	be	AUX
fsr-3259	260	5	to	to	PART
fsr-3259	260	6	reflect	reflect	VERB
fsr-3259	260	7	that	that	SCONJ
fsr-3259	260	8	an	an	DET
fsr-3259	260	9	investor	investor	NOUN
fsr-3259	260	10	disregards	disregard	VERB
fsr-3259	260	11	an	an	DET
fsr-3259	260	12	enhanced	enhanced	ADJ
fsr-3259	260	13	portfolio	portfolio	NOUN
fsr-3259	260	14	risk	risk	NOUN
fsr-3259	260	15	resulting	result	VERB
fsr-3259	260	16	from	from	ADP
fsr-3259	260	17	an	an	DET
fsr-3259	260	18	increase	increase	NOUN
fsr-3259	260	19	in	in	ADP
fsr-3259	260	20	the	the	DET
fsr-3259	260	21	fund	fund	NOUN
fsr-3259	260	22	commonalities	commonality	NOUN
fsr-3259	260	23	,	,	PUNCT
fsr-3259	260	24	while	while	SCONJ
fsr-3259	260	25	the	the	DET
fsr-3259	260	26	second	second	ADJ
fsr-3259	260	27	case	case	NOUN
fsr-3259	260	28	is	be	AUX
fsr-3259	260	29	to	to	PART
fsr-3259	260	30	reflect	reflect	VERB
fsr-3259	260	31	that	that	SCONJ
fsr-3259	260	32	an	an	DET
fsr-3259	260	33	investor	investor	NOUN
fsr-3259	260	34	incorporates	incorporate	VERB
fsr-3259	260	35	the	the	DET
fsr-3259	260	36	enhanced	enhanced	ADJ
fsr-3259	260	37	risk	risk	NOUN
fsr-3259	260	38	into	into	ADP
fsr-3259	260	39	her	her	PRON
fsr-3259	260	40	portfolio	portfolio	NOUN
fsr-3259	260	41	return	return	NOUN
fsr-3259	260	42	.	.	PUNCT
fsr-3259	261	1	panel	panel	NOUN
fsr-3259	261	2	b	b	PROPN
fsr-3259	261	3	of	of	ADP
fsr-3259	261	4	table	table	NOUN
fsr-3259	261	5	5	5	NUM
fsr-3259	261	6	presents	present	NOUN
fsr-3259	261	7	changes	change	NOUN
fsr-3259	261	8	in	in	ADP
fsr-3259	261	9	a	a	DET
fsr-3259	261	10	portfolio	portfolio	NOUN
fsr-3259	261	11	’s	’s	PART
fsr-3259	261	12	expense	expense	NOUN
fsr-3259	261	13	ratio	ratio	NOUN
fsr-3259	261	14	,	,	PUNCT
fsr-3259	261	15	risk	risk	NOUN
fsr-3259	261	16	,	,	PUNCT
fsr-3259	261	17	and	and	CCONJ
fsr-3259	261	18	sharpe	sharpe	PROPN
fsr-3259	261	19	ratio	ratio	NOUN
fsr-3259	261	20	when	when	SCONJ
fsr-3259	261	21	common	common	ADJ
fsr-3259	261	22	stock	stock	NOUN
fsr-3259	261	23	holdings	holding	NOUN
fsr-3259	261	24	between	between	ADP
fsr-3259	261	25	two	two	NUM
fsr-3259	261	26	funds	fund	NOUN
fsr-3259	261	27	in	in	ADP
fsr-3259	261	28	a	a	DET
fsr-3259	261	29	portfolio	portfolio	NOUN
fsr-3259	261	30	are	be	AUX
fsr-3259	261	31	increased	increase	VERB
fsr-3259	261	32	by	by	ADP
fsr-3259	261	33	10	10	NUM
fsr-3259	261	34	%	%	NOUN
fsr-3259	261	35	.	.	PUNCT
fsr-3259	262	1	first	first	ADV
fsr-3259	262	2	,	,	PUNCT
fsr-3259	262	3	for	for	ADP
fsr-3259	262	4	a	a	DET
fsr-3259	262	5	portfolio	portfolio	NOUN
fsr-3259	262	6	of	of	ADP
fsr-3259	262	7	ag	ag	PROPN
fsr-3259	262	8	-	-	PUNCT
fsr-3259	262	9	gi	gi	NOUN
fsr-3259	262	10	funds	fund	NOUN
fsr-3259	262	11	,	,	PUNCT
fsr-3259	262	12	a	a	DET
fsr-3259	262	13	10	10	NUM
fsr-3259	262	14	%	%	NOUN
fsr-3259	262	15	increase	increase	NOUN
fsr-3259	262	16	in	in	ADP
fsr-3259	262	17	common	common	ADJ
fsr-3259	262	18	stock	stock	NOUN
fsr-3259	262	19	holdings	holding	NOUN
fsr-3259	262	20	has	have	VERB
fsr-3259	262	21	a	a	DET
fsr-3259	262	22	negative	negative	ADJ
fsr-3259	262	23	net	net	ADJ
fsr-3259	262	24	effect	effect	NOUN
fsr-3259	262	25	on	on	ADP
fsr-3259	262	26	the	the	DET
fsr-3259	262	27	portfolio	portfolio	NOUN
fsr-3259	262	28	’s	’s	PART
fsr-3259	262	29	risk	risk	NOUN
fsr-3259	262	30	-	-	PUNCT
fsr-3259	262	31	adjusted	adjust	VERB
fsr-3259	262	32	return	return	NOUN
fsr-3259	262	33	.	.	PUNCT
fsr-3259	263	1	the	the	DET
fsr-3259	263	2	increased	increase	VERB
fsr-3259	263	3	fund	fund	NOUN
fsr-3259	263	4	commonality	commonality	NOUN
fsr-3259	263	5	decreases	decrease	VERB
fsr-3259	263	6	the	the	DET
fsr-3259	263	7	portfolio	portfolio	NOUN
fsr-3259	263	8	’s	’s	PART
fsr-3259	263	9	expense	expense	NOUN
fsr-3259	263	10	ratio	ratio	NOUN
fsr-3259	263	11	by	by	ADP
fsr-3259	263	12	1.14	1.14	NUM
fsr-3259	263	13	%	%	NOUN
fsr-3259	263	14	,	,	PUNCT
fsr-3259	263	15	a	a	DET
fsr-3259	263	16	decrease	decrease	NOUN
fsr-3259	263	17	which	which	PRON
fsr-3259	263	18	raises	raise	VERB
fsr-3259	263	19	the	the	DET
fsr-3259	263	20	portfolio	portfolio	NOUN
fsr-3259	263	21	’s	’s	PART
fsr-3259	263	22	sharpe	sharpe	PROPN
fsr-3259	263	23	ratio	ratio	NOUN
fsr-3259	263	24	by	by	ADP
fsr-3259	263	25	0.24	0.24	NUM
fsr-3259	263	26	%	%	NOUN
fsr-3259	263	27	(	(	PUNCT
fsr-3259	263	28	column	column	NOUN
fsr-3259	263	29	1	1	NUM
fsr-3259	263	30	)	)	PUNCT
fsr-3259	263	31	.	.	PUNCT
fsr-3259	264	1	however	however	ADV
fsr-3259	264	2	,	,	PUNCT
fsr-3259	264	3	the	the	DET
fsr-3259	264	4	increased	increase	VERB
fsr-3259	264	5	common	common	ADJ
fsr-3259	264	6	stock	stock	NOUN
fsr-3259	264	7	holding	holding	NOUN
fsr-3259	264	8	also	also	ADV
fsr-3259	264	9	increases	increase	VERB
fsr-3259	264	10	the	the	DET
fsr-3259	264	11	portfolio	portfolio	NOUN
fsr-3259	264	12	risk	risk	NOUN
fsr-3259	264	13	by	by	ADP
fsr-3259	264	14	0.36	0.36	NUM
fsr-3259	264	15	%	%	NOUN
fsr-3259	264	16	;	;	PUNCT
fsr-3259	264	17	as	as	ADP
fsr-3259	264	18	a	a	DET
fsr-3259	264	19	result	result	NOUN
fsr-3259	264	20	,	,	PUNCT
fsr-3259	264	21	the	the	DET
fsr-3259	264	22	portfolio	portfolio	NOUN
fsr-3259	264	23	’s	’s	PART
fsr-3259	264	24	sharpe	sharpe	PROPN
fsr-3259	264	25	ratio	ratio	NOUN
fsr-3259	264	26	is	be	AUX
fsr-3259	264	27	eventually	eventually	ADV
fsr-3259	264	28	decreased	decrease	VERB
fsr-3259	264	29	by	by	ADP
fsr-3259	264	30	0.12	0.12	NUM
fsr-3259	264	31	%	%	NOUN
fsr-3259	264	32	(	(	PUNCT
fsr-3259	264	33	column	column	NOUN
fsr-3259	264	34	2	2	NUM
fsr-3259	264	35	)	)	PUNCT
fsr-3259	264	36	.	.	PUNCT
fsr-3259	265	1	thus	thus	ADV
fsr-3259	265	2	,	,	PUNCT
fsr-3259	265	3	the	the	DET
fsr-3259	265	4	increased	increase	VERB
fsr-3259	265	5	common	common	ADJ
fsr-3259	265	6	stock	stock	NOUN
fsr-3259	265	7	holding	hold	VERB
fsr-3259	265	8	results	result	NOUN
fsr-3259	265	9	in	in	ADP
fsr-3259	265	10	a	a	DET
fsr-3259	265	11	negative	negative	ADJ
fsr-3259	265	12	net	net	ADJ
fsr-3259	265	13	effect	effect	NOUN
fsr-3259	265	14	on	on	ADP
fsr-3259	265	15	the	the	DET
fsr-3259	265	16	portfolio	portfolio	NOUN
fsr-3259	265	17	’s	’s	PART
fsr-3259	265	18	risk	risk	NOUN
fsr-3259	265	19	-	-	PUNCT
fsr-3259	265	20	adjusted	adjust	VERB
fsr-3259	265	21	return	return	NOUN
fsr-3259	265	22	.	.	PUNCT
fsr-3259	266	1	for	for	ADP
fsr-3259	266	2	an	an	DET
fsr-3259	266	3	increase	increase	NOUN
fsr-3259	266	4	in	in	ADP
fsr-3259	266	5	the	the	DET
fsr-3259	266	6	sharpe	sharpe	PROPN
fsr-3259	266	7	ratio	ratio	NOUN
fsr-3259	266	8	caused	cause	VERB
fsr-3259	266	9	by	by	ADP
fsr-3259	266	10	the	the	DET
fsr-3259	266	11	decreased	decrease	VERB
fsr-3259	266	12	portfolio	portfolio	NOUN
fsr-3259	266	13	expense	expense	NOUN
fsr-3259	266	14	ratio	ratio	NOUN
fsr-3259	266	15	,	,	PUNCT
fsr-3259	266	16	we	we	PRON
fsr-3259	266	17	further	far	ADV
fsr-3259	266	18	investigate	investigate	VERB
fsr-3259	266	19	how	how	SCONJ
fsr-3259	266	20	much	much	ADJ
fsr-3259	266	21	additional	additional	ADJ
fsr-3259	266	22	gross	gross	ADJ
fsr-3259	266	23	return	return	NOUN
fsr-3259	266	24	is	be	AUX
fsr-3259	266	25	needed	need	VERB
fsr-3259	266	26	to	to	PART
fsr-3259	266	27	have	have	VERB
fsr-3259	266	28	the	the	DET
fsr-3259	266	29	same	same	ADJ
fsr-3259	266	30	increase	increase	NOUN
fsr-3259	266	31	in	in	ADP
fsr-3259	266	32	the	the	DET
fsr-3259	266	33	risk	risk	NOUN
fsr-3259	266	34	-	-	PUNCT
fsr-3259	266	35	adjusted	adjust	VERB
fsr-3259	266	36	return	return	NOUN
fsr-3259	266	37	.	.	PUNCT
fsr-3259	267	1	we	we	PRON
fsr-3259	267	2	find	find	VERB
fsr-3259	267	3	that	that	SCONJ
fsr-3259	267	4	the	the	DET
fsr-3259	267	5	portfolio	portfolio	NOUN
fsr-3259	267	6	should	should	AUX
fsr-3259	267	7	additionally	additionally	ADV
fsr-3259	267	8	earn	earn	VERB
fsr-3259	267	9	a	a	DET
fsr-3259	267	10	2.0	2.0	NUM
fsr-3259	267	11	basis	basis	NOUN
fsr-3259	267	12	point	point	NOUN
fsr-3259	267	13	return	return	NOUN
fsr-3259	267	14	to	to	PART
fsr-3259	267	15	have	have	VERB
fsr-3259	267	16	the	the	DET
fsr-3259	267	17	same	same	ADJ
fsr-3259	267	18	increase	increase	NOUN
fsr-3259	267	19	of	of	ADP
fsr-3259	267	20	0.24	0.24	NUM
fsr-3259	267	21	%	%	NOUN
fsr-3259	267	22	in	in	ADP
fsr-3259	267	23	the	the	DET
fsr-3259	267	24	sharpe	sharpe	PROPN
fsr-3259	267	25	ratio	ratio	NOUN
fsr-3259	267	26	(	(	PUNCT
fsr-3259	267	27	reported	report	VERB
fsr-3259	267	28	in	in	ADP
fsr-3259	267	29	column	column	NOUN
fsr-3259	267	30	1	1	NUM
fsr-3259	267	31	)	)	PUNCT
fsr-3259	267	32	.	.	PUNCT
fsr-3259	268	1	second	second	ADJ
fsr-3259	268	2	,	,	PUNCT
fsr-3259	268	3	for	for	ADP
fsr-3259	268	4	a	a	DET
fsr-3259	268	5	portfolio	portfolio	NOUN
fsr-3259	268	6	of	of	ADP
fsr-3259	268	7	ag	ag	PROPN
fsr-3259	268	8	-	-	PUNCT
fsr-3259	268	9	lg	lg	PROPN
fsr-3259	268	10	funds	fund	NOUN
fsr-3259	268	11	,	,	PUNCT
fsr-3259	268	12	a	a	DET
fsr-3259	268	13	10	10	NUM
fsr-3259	268	14	%	%	NOUN
fsr-3259	268	15	increase	increase	NOUN
fsr-3259	268	16	in	in	ADP
fsr-3259	268	17	common	common	ADJ
fsr-3259	268	18	stock	stock	NOUN
fsr-3259	268	19	holdings	holding	NOUN
fsr-3259	268	20	results	result	NOUN
fsr-3259	268	21	in	in	ADP
fsr-3259	268	22	a	a	DET
fsr-3259	268	23	negative	negative	ADJ
fsr-3259	268	24	net	net	ADJ
fsr-3259	268	25	effect	effect	NOUN
fsr-3259	268	26	on	on	ADP
fsr-3259	268	27	the	the	DET
fsr-3259	268	28	portfolio	portfolio	NOUN
fsr-3259	268	29	’s	’s	PART
fsr-3259	268	30	risk	risk	NOUN
fsr-3259	268	31	-	-	PUNCT
fsr-3259	268	32	adjusted	adjust	VERB
fsr-3259	268	33	return	return	NOUN
fsr-3259	268	34	,	,	PUNCT
fsr-3259	268	35	a	a	DET
fsr-3259	268	36	result	result	NOUN
fsr-3259	268	37	which	which	PRON
fsr-3259	268	38	is	be	AUX
fsr-3259	268	39	similar	similar	ADJ
fsr-3259	268	40	to	to	ADP
fsr-3259	268	41	that	that	PRON
fsr-3259	268	42	of	of	ADP
fsr-3259	268	43	ag	ag	PROPN
fsr-3259	268	44	-	-	PUNCT
fsr-3259	268	45	gi	gi	NOUN
fsr-3259	268	46	funds	fund	NOUN
fsr-3259	268	47	.	.	PUNCT
fsr-3259	269	1	the	the	DET
fsr-3259	269	2	increased	increase	VERB
fsr-3259	269	3	fund	fund	NOUN
fsr-3259	269	4	commonality	commonality	NOUN
fsr-3259	269	5	reduces	reduce	VERB
fsr-3259	269	6	the	the	DET
fsr-3259	269	7	portfolio	portfolio	NOUN
fsr-3259	269	8	’s	’s	PART
fsr-3259	269	9	expense	expense	NOUN
fsr-3259	269	10	ratio	ratio	NOUN
fsr-3259	269	11	by	by	ADP
fsr-3259	269	12	1.15	1.15	NUM
fsr-3259	269	13	%	%	NOUN
fsr-3259	269	14	.	.	PUNCT
fsr-3259	270	1	the	the	DET
fsr-3259	270	2	lower	low	ADJ
fsr-3259	270	3	portfolio	portfolio	NOUN
fsr-3259	270	4	expense	expense	NOUN
fsr-3259	270	5	ratio	ratio	NOUN
fsr-3259	270	6	increases	increase	VERB
fsr-3259	270	7	the	the	DET
fsr-3259	270	8	portfolio	portfolio	NOUN
fsr-3259	270	9	’s	’s	PART
fsr-3259	270	10	sharpe	sharpe	PROPN
fsr-3259	270	11	ratio	ratio	NOUN
fsr-3259	270	12	by	by	ADP
fsr-3259	270	13	0.31	0.31	NUM
fsr-3259	270	14	%	%	NOUN
fsr-3259	270	15	(	(	PUNCT
fsr-3259	270	16	column	column	NOUN
fsr-3259	270	17	1	1	NUM
fsr-3259	270	18	)	)	PUNCT
fsr-3259	270	19	.	.	PUNCT
fsr-3259	271	1	however	however	ADV
fsr-3259	271	2	,	,	PUNCT
fsr-3259	271	3	the	the	DET
fsr-3259	271	4	increased	increase	VERB
fsr-3259	271	5	fund	fund	NOUN
fsr-3259	271	6	commonality	commonality	NOUN
fsr-3259	271	7	increases	increase	VERB
fsr-3259	271	8	the	the	DET
fsr-3259	271	9	portfolio	portfolio	NOUN
fsr-3259	271	10	risk	risk	NOUN
fsr-3259	271	11	by	by	ADP
fsr-3259	271	12	0.45	0.45	NUM
fsr-3259	271	13	%	%	NOUN
fsr-3259	271	14	(	(	PUNCT
fsr-3259	271	15	column	column	NOUN
fsr-3259	271	16	2	2	NUM
fsr-3259	271	17	)	)	PUNCT
fsr-3259	271	18	.	.	PUNCT
fsr-3259	272	1	as	as	ADP
fsr-3259	272	2	a	a	DET
fsr-3259	272	3	result	result	NOUN
fsr-3259	272	4	,	,	PUNCT
fsr-3259	272	5	the	the	DET
fsr-3259	272	6	portfolio	portfolio	NOUN
fsr-3259	272	7	’s	’s	PART
fsr-3259	272	8	sharpe	sharpe	PROPN
fsr-3259	272	9	ratio	ratio	PROPN
fsr-3259	272	10	is	be	AUX
fsr-3259	272	11	decreased	decrease	VERB
fsr-3259	272	12	by	by	ADP
fsr-3259	272	13	0.14	0.14	NUM
fsr-3259	272	14	%	%	NOUN
fsr-3259	272	15	(	(	PUNCT
fsr-3259	272	16	column	column	NOUN
fsr-3259	272	17	2	2	NUM
fsr-3259	272	18	)	)	PUNCT
fsr-3259	272	19	,	,	PUNCT
fsr-3259	272	20	indicating	indicate	VERB
fsr-3259	272	21	a	a	DET
fsr-3259	272	22	negative	negative	ADJ
fsr-3259	272	23	net	net	ADJ
fsr-3259	272	24	effect	effect	NOUN
fsr-3259	272	25	on	on	ADP
fsr-3259	272	26	the	the	DET
fsr-3259	272	27	portfolio	portfolio	NOUN
fsr-3259	272	28	’s	’s	PART
fsr-3259	272	29	riskadjusted	riskadjuste	VERB
fsr-3259	272	30	return	return	NOUN
fsr-3259	272	31	.	.	PUNCT
fsr-3259	273	1	for	for	ADP
fsr-3259	273	2	an	an	DET
fsr-3259	273	3	increase	increase	NOUN
fsr-3259	273	4	of	of	ADP
fsr-3259	273	5	0.31	0.31	NUM
fsr-3259	273	6	%	%	NOUN
fsr-3259	273	7	in	in	ADP
fsr-3259	273	8	the	the	DET
fsr-3259	273	9	sharpe	sharpe	PROPN
fsr-3259	273	10	ratio	ratio	NOUN
fsr-3259	273	11	because	because	SCONJ
fsr-3259	273	12	of	of	ADP
fsr-3259	273	13	the	the	DET
fsr-3259	273	14	decreased	decrease	VERB
fsr-3259	273	15	portfolio	portfolio	NOUN
fsr-3259	273	16	expense	expense	NOUN
fsr-3259	273	17	ratio	ratio	NOUN
fsr-3259	273	18	,	,	PUNCT
fsr-3259	273	19	the	the	DET
fsr-3259	273	20	portfolio	portfolio	NOUN
fsr-3259	273	21	needs	need	VERB
fsr-3259	273	22	an	an	DET
fsr-3259	273	23	additional	additional	ADJ
fsr-3259	273	24	gross	gross	ADJ
fsr-3259	273	25	return	return	NOUN
fsr-3259	273	26	of	of	ADP
fsr-3259	273	27	2.1	2.1	NUM
fsr-3259	273	28	basis	basis	NOUN
fsr-3259	273	29	points	point	NOUN
fsr-3259	273	30	.	.	PUNCT
fsr-3259	274	1	third	third	ADV
fsr-3259	274	2	,	,	PUNCT
fsr-3259	274	3	in	in	ADP
fsr-3259	274	4	contrast	contrast	NOUN
fsr-3259	274	5	to	to	ADP
fsr-3259	274	6	portfolios	portfolio	NOUN
fsr-3259	274	7	of	of	ADP
fsr-3259	274	8	ag	ag	PROPN
fsr-3259	274	9	-	-	PUNCT
fsr-3259	274	10	gi	gi	PROPN
fsr-3259	274	11	and	and	CCONJ
fsr-3259	274	12	ag	ag	PROPN
fsr-3259	274	13	-	-	PUNCT
fsr-3259	274	14	lg	lg	PROPN
fsr-3259	274	15	funds	fund	NOUN
fsr-3259	274	16	,	,	PUNCT
fsr-3259	274	17	a	a	DET
fsr-3259	274	18	10	10	NUM
fsr-3259	274	19	%	%	NOUN
fsr-3259	274	20	increase	increase	NOUN
fsr-3259	274	21	in	in	ADP
fsr-3259	274	22	common	common	ADJ
fsr-3259	274	23	stock	stock	NOUN
fsr-3259	274	24	holding	hold	VERB
fsr-3259	274	25	results	result	NOUN
fsr-3259	274	26	in	in	ADP
fsr-3259	274	27	a	a	DET
fsr-3259	274	28	positive	positive	ADJ
fsr-3259	274	29	net	net	ADJ
fsr-3259	274	30	effect	effect	NOUN
fsr-3259	274	31	on	on	ADP
fsr-3259	274	32	the	the	DET
fsr-3259	274	33	risk	risk	NOUN
fsr-3259	274	34	-	-	PUNCT
fsr-3259	274	35	adjusted	adjust	VERB
fsr-3259	274	36	return	return	NOUN
fsr-3259	274	37	of	of	ADP
fsr-3259	274	38	a	a	DET
fsr-3259	274	39	portfolio	portfolio	NOUN
fsr-3259	274	40	of	of	ADP
fsr-3259	274	41	gi	gi	PROPN
fsr-3259	274	42	-	-	PUNCT
fsr-3259	274	43	lg	lg	NOUN
fsr-3259	274	44	funds	fund	NOUN
fsr-3259	274	45	.	.	PUNCT
fsr-3259	275	1	the	the	DET
fsr-3259	275	2	increased	increase	VERB
fsr-3259	275	3	fund	fund	NOUN
fsr-3259	275	4	commonality	commonality	NOUN
fsr-3259	275	5	reduces	reduce	VERB
fsr-3259	275	6	the	the	DET
fsr-3259	275	7	portfolio	portfolio	NOUN
fsr-3259	275	8	’s	’s	PART
fsr-3259	275	9	expense	expense	NOUN
fsr-3259	275	10	ratio	ratio	NOUN
fsr-3259	275	11	by	by	ADP
fsr-3259	275	12	1.14	1.14	NUM
fsr-3259	275	13	%	%	NOUN
fsr-3259	275	14	,	,	PUNCT
fsr-3259	275	15	which	which	PRON
fsr-3259	275	16	increases	increase	VERB
fsr-3259	275	17	the	the	DET
fsr-3259	275	18	sharpe	sharpe	NOUN
fsr-3259	275	19	ratio	ratio	NOUN
fsr-3259	275	20	by	by	ADP
fsr-3259	275	21	0.42	0.42	NUM
fsr-3259	275	22	%	%	NOUN
fsr-3259	275	23	(	(	PUNCT
fsr-3259	275	24	column	column	NOUN
fsr-3259	275	25	1	1	NUM
fsr-3259	275	26	)	)	PUNCT
fsr-3259	275	27	.	.	PUNCT
fsr-3259	276	1	however	however	ADV
fsr-3259	276	2	,	,	PUNCT
fsr-3259	276	3	the	the	DET
fsr-3259	276	4	increased	increase	VERB
fsr-3259	276	5	fund	fund	NOUN
fsr-3259	276	6	commonality	commonality	NOUN
fsr-3259	276	7	raises	raise	VERB
fsr-3259	276	8	the	the	DET
fsr-3259	276	9	portfolio	portfolio	NOUN
fsr-3259	276	10	risk	risk	NOUN
fsr-3259	276	11	by	by	ADP
fsr-3259	276	12	0.22	0.22	NUM
fsr-3259	276	13	%	%	NOUN
fsr-3259	276	14	(	(	PUNCT
fsr-3259	276	15	column	column	NOUN
fsr-3259	276	16	2	2	NUM
fsr-3259	276	17	)	)	PUNCT
fsr-3259	276	18	.	.	PUNCT
fsr-3259	277	1	as	as	ADP
fsr-3259	277	2	a	a	DET
fsr-3259	277	3	result	result	NOUN
fsr-3259	277	4	,	,	PUNCT
fsr-3259	277	5	the	the	DET
fsr-3259	277	6	sharpe	sharpe	PROPN
fsr-3259	277	7	ratio	ratio	NOUN
fsr-3259	277	8	is	be	AUX
fsr-3259	277	9	increased	increase	VERB
fsr-3259	277	10	only	only	ADV
fsr-3259	277	11	by	by	ADP
fsr-3259	277	12	0.20	0.20	NUM
fsr-3259	277	13	%	%	NOUN
fsr-3259	277	14	(	(	PUNCT
fsr-3259	277	15	column	column	NOUN
fsr-3259	277	16	2	2	NUM
fsr-3259	277	17	)	)	PUNCT
fsr-3259	277	18	.	.	PUNCT
fsr-3259	278	1	for	for	ADP
fsr-3259	278	2	an	an	DET
fsr-3259	278	3	increase	increase	NOUN
fsr-3259	278	4	of	of	ADP
fsr-3259	278	5	0.42	0.42	NUM
fsr-3259	278	6	%	%	NOUN
fsr-3259	278	7	in	in	ADP
fsr-3259	278	8	the	the	DET
fsr-3259	278	9	sharpe	sharpe	PROPN
fsr-3259	278	10	ratio	ratio	NOUN
fsr-3259	278	11	because	because	SCONJ
fsr-3259	278	12	of	of	ADP
fsr-3259	278	13	the	the	DET
fsr-3259	278	14	decreased	decrease	VERB
fsr-3259	278	15	portfolio	portfolio	NOUN
fsr-3259	278	16	expense	expense	NOUN
fsr-3259	278	17	ratio	ratio	NOUN
fsr-3259	278	18	,	,	PUNCT
fsr-3259	278	19	the	the	DET
fsr-3259	278	20	portfolio	portfolio	NOUN
fsr-3259	278	21	needs	need	VERB
fsr-3259	278	22	an	an	DET
fsr-3259	278	23	additional	additional	ADJ
fsr-3259	278	24	gross	gross	ADJ
fsr-3259	278	25	return	return	NOUN
fsr-3259	278	26	of	of	ADP
fsr-3259	278	27	0.7	0.7	NUM
fsr-3259	278	28	basis	basis	NOUN
fsr-3259	278	29	points	point	NOUN
fsr-3259	278	30	.	.	PUNCT
fsr-3259	279	1	in	in	ADP
fsr-3259	279	2	summary	summary	NOUN
fsr-3259	279	3	,	,	PUNCT
fsr-3259	279	4	an	an	DET
fsr-3259	279	5	increase	increase	NOUN
fsr-3259	279	6	in	in	ADP
fsr-3259	279	7	common	common	ADJ
fsr-3259	279	8	stock	stock	NOUN
fsr-3259	279	9	holdings	holding	NOUN
fsr-3259	279	10	of	of	ADP
fsr-3259	279	11	a	a	DET
fsr-3259	279	12	portfolio	portfolio	NOUN
fsr-3259	279	13	decreases	decrease	VERB
fsr-3259	279	14	the	the	DET
fsr-3259	279	15	portfolio	portfolio	NOUN
fsr-3259	279	16	’s	’s	PART
fsr-3259	279	17	expense	expense	NOUN
fsr-3259	279	18	ratio	ratio	NOUN
fsr-3259	279	19	,	,	PUNCT
fsr-3259	279	20	but	but	CCONJ
fsr-3259	279	21	increases	increase	VERB
fsr-3259	279	22	its	its	PRON
fsr-3259	279	23	risk	risk	NOUN
fsr-3259	279	24	.	.	PUNCT
fsr-3259	280	1	the	the	DET
fsr-3259	280	2	increased	increase	VERB
fsr-3259	280	3	portfolio	portfolio	NOUN
fsr-3259	280	4	risk	risk	NOUN
fsr-3259	280	5	can	can	AUX
fsr-3259	280	6	cause	cause	VERB
fsr-3259	280	7	a	a	DET
fsr-3259	280	8	44	44	NUM
fsr-3259	280	9	y.	y.	PROPN
fsr-3259	280	10	park	park	PROPN
fsr-3259	280	11	/	/	SYM
fsr-3259	280	12	financial	financial	ADJ
fsr-3259	280	13	services	service	NOUN
fsr-3259	280	14	review	review	VERB
fsr-3259	280	15	25	25	NUM
fsr-3259	280	16	(	(	PUNCT
fsr-3259	280	17	2016	2016	NUM
fsr-3259	280	18	)	)	PUNCT
fsr-3259	280	19	29–49	29–49	NUM
fsr-3259	280	20	negative	negative	ADJ
fsr-3259	280	21	net	net	ADJ
fsr-3259	280	22	effect	effect	NOUN
fsr-3259	280	23	on	on	ADP
fsr-3259	280	24	the	the	DET
fsr-3259	280	25	portfolio	portfolio	NOUN
fsr-3259	280	26	’s	’s	PART
fsr-3259	280	27	risk	risk	NOUN
fsr-3259	280	28	-	-	PUNCT
fsr-3259	280	29	adjusted	adjust	VERB
fsr-3259	280	30	return	return	NOUN
fsr-3259	280	31	,	,	PUNCT
fsr-3259	280	32	as	as	SCONJ
fsr-3259	280	33	shown	show	VERB
fsr-3259	280	34	in	in	ADP
fsr-3259	280	35	the	the	DET
fsr-3259	280	36	portfolios	portfolio	NOUN
fsr-3259	280	37	of	of	ADP
fsr-3259	280	38	ag	ag	PROPN
fsr-3259	280	39	-	-	PUNCT
fsr-3259	280	40	gi	gi	PROPN
fsr-3259	280	41	and	and	CCONJ
fsr-3259	280	42	ag	ag	PROPN
fsr-3259	280	43	-	-	PROPN
fsr-3259	280	44	lg	lg	NOUN
fsr-3259	280	45	.	.	NOUN
fsr-3259	281	1	in	in	ADP
fsr-3259	281	2	addition	addition	NOUN
fsr-3259	281	3	,	,	PUNCT
fsr-3259	281	4	because	because	SCONJ
fsr-3259	281	5	of	of	ADP
fsr-3259	281	6	the	the	DET
fsr-3259	281	7	increased	increase	VERB
fsr-3259	281	8	portfolio	portfolio	NOUN
fsr-3259	281	9	risk	risk	NOUN
fsr-3259	281	10	,	,	PUNCT
fsr-3259	281	11	the	the	DET
fsr-3259	281	12	portfolio	portfolio	NOUN
fsr-3259	281	13	needs	need	VERB
fsr-3259	281	14	an	an	DET
fsr-3259	281	15	additional	additional	ADJ
fsr-3259	281	16	return	return	NOUN
fsr-3259	281	17	to	to	PART
fsr-3259	281	18	have	have	VERB
fsr-3259	281	19	the	the	DET
fsr-3259	281	20	same	same	ADJ
fsr-3259	281	21	sharpe	sharpe	NOUN
fsr-3259	281	22	ratio	ratio	NOUN
fsr-3259	281	23	that	that	PRON
fsr-3259	281	24	an	an	DET
fsr-3259	281	25	investor	investor	NOUN
fsr-3259	281	26	would	would	AUX
fsr-3259	281	27	have	have	VERB
fsr-3259	281	28	from	from	ADP
fsr-3259	281	29	the	the	DET
fsr-3259	281	30	decreased	decrease	VERB
fsr-3259	281	31	portfolio	portfolio	NOUN
fsr-3259	281	32	expense	expense	NOUN
fsr-3259	281	33	ratio	ratio	NOUN
fsr-3259	281	34	.	.	PUNCT
fsr-3259	282	1	panel	panel	NOUN
fsr-3259	282	2	c	c	PROPN
fsr-3259	282	3	of	of	ADP
fsr-3259	282	4	table	table	NOUN
fsr-3259	282	5	5	5	NUM
fsr-3259	282	6	presents	present	NOUN
fsr-3259	282	7	changes	change	NOUN
fsr-3259	282	8	in	in	ADP
fsr-3259	282	9	a	a	DET
fsr-3259	282	10	portfolio	portfolio	NOUN
fsr-3259	282	11	’s	’s	PART
fsr-3259	282	12	expense	expense	NOUN
fsr-3259	282	13	ratio	ratio	NOUN
fsr-3259	282	14	,	,	PUNCT
fsr-3259	282	15	risk	risk	NOUN
fsr-3259	282	16	,	,	PUNCT
fsr-3259	282	17	and	and	CCONJ
fsr-3259	282	18	sharpe	sharpe	PROPN
fsr-3259	282	19	ratio	ratio	NOUN
fsr-3259	282	20	when	when	SCONJ
fsr-3259	282	21	funds	fund	NOUN
fsr-3259	282	22	in	in	ADP
fsr-3259	282	23	a	a	DET
fsr-3259	282	24	portfolio	portfolio	NOUN
fsr-3259	282	25	are	be	AUX
fsr-3259	282	26	managed	manage	VERB
fsr-3259	282	27	by	by	ADP
fsr-3259	282	28	exactly	exactly	ADV
fsr-3259	282	29	the	the	DET
fsr-3259	282	30	same	same	ADJ
fsr-3259	282	31	fund	fund	NOUN
fsr-3259	282	32	managers	manager	NOUN
fsr-3259	282	33	.	.	PUNCT
fsr-3259	283	1	results	result	NOUN
fsr-3259	283	2	in	in	ADP
fsr-3259	283	3	panel	panel	NOUN
fsr-3259	283	4	c	c	PROPN
fsr-3259	283	5	are	be	AUX
fsr-3259	283	6	similar	similar	ADJ
fsr-3259	283	7	to	to	ADP
fsr-3259	283	8	those	those	PRON
fsr-3259	283	9	reported	report	VERB
fsr-3259	283	10	in	in	ADP
fsr-3259	283	11	panel	panel	NOUN
fsr-3259	283	12	b	b	NOUN
fsr-3259	283	13	,	,	PUNCT
fsr-3259	283	14	though	though	SCONJ
fsr-3259	283	15	the	the	DET
fsr-3259	283	16	magnitudes	magnitude	NOUN
fsr-3259	283	17	of	of	ADP
fsr-3259	283	18	the	the	DET
fsr-3259	283	19	changes	change	NOUN
fsr-3259	283	20	are	be	AUX
fsr-3259	283	21	greater	great	ADJ
fsr-3259	283	22	in	in	ADP
fsr-3259	283	23	panel	panel	NOUN
fsr-3259	283	24	c	c	NOUN
fsr-3259	283	25	than	than	ADP
fsr-3259	283	26	in	in	ADP
fsr-3259	283	27	panel	panel	NOUN
fsr-3259	283	28	b.	b.	PROPN
fsr-3259	284	1	the	the	DET
fsr-3259	284	2	multi	multi	ADJ
fsr-3259	284	3	-	-	ADJ
fsr-3259	284	4	fund	fund	ADJ
fsr-3259	284	5	management	management	NOUN
fsr-3259	284	6	reduces	reduce	VERB
fsr-3259	284	7	a	a	DET
fsr-3259	284	8	portfolio	portfolio	NOUN
fsr-3259	284	9	’s	’s	PART
fsr-3259	284	10	expense	expense	NOUN
fsr-3259	284	11	ratio	ratio	NOUN
fsr-3259	284	12	by	by	ADP
fsr-3259	284	13	4.43	4.43	NUM
fsr-3259	284	14	%	%	NOUN
fsr-3259	284	15	for	for	ADP
fsr-3259	284	16	ag	ag	PROPN
fsr-3259	284	17	-	-	PUNCT
fsr-3259	284	18	gi	gi	PROPN
fsr-3259	284	19	,	,	PUNCT
fsr-3259	284	20	4.36	4.36	NUM
fsr-3259	284	21	%	%	NOUN
fsr-3259	284	22	for	for	ADP
fsr-3259	284	23	ag	ag	PROPN
fsr-3259	284	24	-	-	PROPN
fsr-3259	284	25	lg	lg	NOUN
fsr-3259	284	26	,	,	PUNCT
fsr-3259	284	27	and	and	CCONJ
fsr-3259	284	28	4.35	4.35	NUM
fsr-3259	284	29	%	%	NOUN
fsr-3259	284	30	for	for	ADP
fsr-3259	284	31	gi	gi	NOUN
fsr-3259	284	32	-	-	PUNCT
fsr-3259	284	33	lg	lg	NOUN
fsr-3259	284	34	funds	fund	NOUN
fsr-3259	284	35	,	,	PUNCT
fsr-3259	284	36	and	and	CCONJ
fsr-3259	284	37	the	the	DET
fsr-3259	284	38	decreased	decrease	VERB
fsr-3259	284	39	expense	expense	NOUN
fsr-3259	284	40	ratios	ratio	NOUN
fsr-3259	284	41	raise	raise	VERB
fsr-3259	284	42	the	the	DET
fsr-3259	284	43	portfolios	portfolio	NOUN
fsr-3259	284	44	’	'	PUNCT
fsr-3259	284	45	sharpe	sharpe	NOUN
fsr-3259	284	46	ratios	ratio	NOUN
fsr-3259	284	47	by	by	ADP
fsr-3259	284	48	0.92	0.92	NUM
fsr-3259	284	49	%	%	NOUN
fsr-3259	284	50	,	,	PUNCT
fsr-3259	284	51	1.18	1.18	NUM
fsr-3259	284	52	%	%	NOUN
fsr-3259	284	53	,	,	PUNCT
fsr-3259	284	54	and	and	CCONJ
fsr-3259	284	55	1.60	1.60	NUM
fsr-3259	284	56	%	%	NOUN
fsr-3259	284	57	,	,	PUNCT
fsr-3259	284	58	respectively	respectively	ADV
fsr-3259	284	59	(	(	PUNCT
fsr-3259	284	60	column	column	NOUN
fsr-3259	284	61	1	1	NUM
fsr-3259	284	62	)	)	PUNCT
fsr-3259	284	63	.	.	PUNCT
fsr-3259	285	1	however	however	ADV
fsr-3259	285	2	,	,	PUNCT
fsr-3259	285	3	the	the	DET
fsr-3259	285	4	multi	multi	ADJ
fsr-3259	285	5	-	-	ADJ
fsr-3259	285	6	fund	fund	ADJ
fsr-3259	285	7	management	management	NOUN
fsr-3259	285	8	also	also	ADV
fsr-3259	285	9	increases	increase	VERB
fsr-3259	285	10	the	the	DET
fsr-3259	285	11	portfolio	portfolio	NOUN
fsr-3259	285	12	risk	risk	NOUN
fsr-3259	285	13	by	by	ADP
fsr-3259	285	14	1.73	1.73	NUM
fsr-3259	285	15	%	%	NOUN
fsr-3259	285	16	for	for	ADP
fsr-3259	285	17	ag	ag	PROPN
fsr-3259	285	18	-	-	PUNCT
fsr-3259	285	19	gi	gi	PROPN
fsr-3259	285	20	,	,	PUNCT
fsr-3259	285	21	2.30	2.30	NUM
fsr-3259	285	22	%	%	NOUN
fsr-3259	285	23	for	for	ADP
fsr-3259	285	24	ag	ag	PROPN
fsr-3259	285	25	-	-	PUNCT
fsr-3259	285	26	lg	lg	NOUN
fsr-3259	285	27	funds	fund	NOUN
fsr-3259	285	28	,	,	PUNCT
fsr-3259	285	29	and	and	CCONJ
fsr-3259	285	30	1.27	1.27	NUM
fsr-3259	285	31	%	%	NOUN
fsr-3259	285	32	for	for	ADP
fsr-3259	285	33	gi	gi	NOUN
fsr-3259	285	34	-	-	PUNCT
fsr-3259	285	35	lg	lg	NOUN
fsr-3259	285	36	funds	fund	NOUN
fsr-3259	285	37	.	.	PUNCT
fsr-3259	286	1	as	as	ADP
fsr-3259	286	2	a	a	DET
fsr-3259	286	3	result	result	NOUN
fsr-3259	286	4	,	,	PUNCT
fsr-3259	286	5	the	the	DET
fsr-3259	286	6	sharpe	sharpe	NOUN
fsr-3259	286	7	ratios	ratio	NOUN
fsr-3259	286	8	are	be	AUX
fsr-3259	286	9	decreased	decrease	VERB
fsr-3259	286	10	by	by	ADP
fsr-3259	286	11	0.80	0.80	NUM
fsr-3259	286	12	%	%	NOUN
fsr-3259	286	13	for	for	ADP
fsr-3259	286	14	ag	ag	PROPN
fsr-3259	286	15	-	-	PUNCT
fsr-3259	286	16	gi	gi	NOUN
fsr-3259	286	17	funds	fund	NOUN
fsr-3259	286	18	and	and	CCONJ
fsr-3259	286	19	1.09	1.09	NUM
fsr-3259	286	20	%	%	NOUN
fsr-3259	286	21	for	for	ADP
fsr-3259	286	22	ag	ag	PROPN
fsr-3259	286	23	-	-	PUNCT
fsr-3259	286	24	lg	lg	NOUN
fsr-3259	286	25	funds	fund	NOUN
fsr-3259	286	26	,	,	PUNCT
fsr-3259	286	27	while	while	SCONJ
fsr-3259	286	28	the	the	DET
fsr-3259	286	29	sharpe	sharpe	PROPN
fsr-3259	286	30	ratio	ratio	NOUN
fsr-3259	286	31	of	of	ADP
fsr-3259	286	32	gi	gi	PROPN
fsr-3259	286	33	-	-	PUNCT
fsr-3259	286	34	lg	lg	NOUN
fsr-3259	286	35	funds	fund	NOUN
fsr-3259	286	36	is	be	AUX
fsr-3259	286	37	increased	increase	VERB
fsr-3259	286	38	by	by	ADP
fsr-3259	286	39	0.32	0.32	NUM
fsr-3259	286	40	%	%	NOUN
fsr-3259	286	41	.	.	PUNCT
fsr-3259	287	1	the	the	DET
fsr-3259	287	2	results	result	NOUN
fsr-3259	287	3	indicate	indicate	VERB
fsr-3259	287	4	that	that	SCONJ
fsr-3259	287	5	the	the	DET
fsr-3259	287	6	multi	multi	ADJ
fsr-3259	287	7	-	-	ADJ
fsr-3259	287	8	fund	fund	ADJ
fsr-3259	287	9	management	management	NOUN
fsr-3259	287	10	has	have	VERB
fsr-3259	287	11	negative	negative	ADJ
fsr-3259	287	12	net	net	ADJ
fsr-3259	287	13	effects	effect	NOUN
fsr-3259	287	14	on	on	ADP
fsr-3259	287	15	risk	risk	NOUN
fsr-3259	287	16	-	-	PUNCT
fsr-3259	287	17	adjusted	adjust	VERB
fsr-3259	287	18	returns	return	NOUN
fsr-3259	287	19	for	for	ADP
fsr-3259	287	20	portfolios	portfolio	NOUN
fsr-3259	287	21	of	of	ADP
fsr-3259	287	22	ag	ag	PROPN
fsr-3259	287	23	-	-	PUNCT
fsr-3259	287	24	gi	gi	PROPN
fsr-3259	287	25	and	and	CCONJ
fsr-3259	287	26	ag	ag	PROPN
fsr-3259	287	27	-	-	PUNCT
fsr-3259	287	28	lg	lg	NOUN
fsr-3259	287	29	funds	fund	NOUN
fsr-3259	287	30	,	,	PUNCT
fsr-3259	287	31	while	while	SCONJ
fsr-3259	287	32	it	it	PRON
fsr-3259	287	33	has	have	VERB
fsr-3259	287	34	a	a	DET
fsr-3259	287	35	positive	positive	ADJ
fsr-3259	287	36	net	net	ADJ
fsr-3259	287	37	effect	effect	NOUN
fsr-3259	287	38	on	on	ADP
fsr-3259	287	39	risk	risk	NOUN
fsr-3259	287	40	-	-	PUNCT
fsr-3259	287	41	adjusted	adjust	VERB
fsr-3259	287	42	returns	return	NOUN
fsr-3259	287	43	for	for	ADP
fsr-3259	287	44	a	a	DET
fsr-3259	287	45	portfolio	portfolio	NOUN
fsr-3259	287	46	of	of	ADP
fsr-3259	287	47	gi	gi	PROPN
fsr-3259	287	48	-	-	PUNCT
fsr-3259	287	49	lg	lg	NOUN
fsr-3259	287	50	funds	fund	NOUN
fsr-3259	287	51	.	.	PUNCT
fsr-3259	288	1	finally	finally	ADV
fsr-3259	288	2	,	,	PUNCT
fsr-3259	288	3	each	each	DET
fsr-3259	288	4	portfolio	portfolio	NOUN
fsr-3259	288	5	needs	need	VERB
fsr-3259	288	6	an	an	DET
fsr-3259	288	7	additional	additional	ADJ
fsr-3259	288	8	return	return	NOUN
fsr-3259	288	9	to	to	PART
fsr-3259	288	10	have	have	VERB
fsr-3259	288	11	the	the	DET
fsr-3259	288	12	same	same	ADJ
fsr-3259	288	13	sharpe	sharpe	NOUN
fsr-3259	288	14	ratio	ratio	NOUN
fsr-3259	288	15	that	that	PRON
fsr-3259	288	16	the	the	DET
fsr-3259	288	17	portfolio	portfolio	NOUN
fsr-3259	288	18	would	would	AUX
fsr-3259	288	19	have	have	VERB
fsr-3259	288	20	from	from	ADP
fsr-3259	288	21	the	the	DET
fsr-3259	288	22	decreased	decrease	VERB
fsr-3259	288	23	portfolio	portfolio	NOUN
fsr-3259	288	24	expense	expense	NOUN
fsr-3259	288	25	ratio	ratio	NOUN
fsr-3259	288	26	.	.	PUNCT
fsr-3259	289	1	the	the	DET
fsr-3259	289	2	ag	ag	PROPN
fsr-3259	289	3	-	-	PUNCT
fsr-3259	289	4	gi	gi	PROPN
fsr-3259	289	5	portfolio	portfolio	NOUN
fsr-3259	289	6	needs	need	VERB
fsr-3259	289	7	an	an	DET
fsr-3259	289	8	additional	additional	ADJ
fsr-3259	289	9	gross	gross	ADJ
fsr-3259	289	10	return	return	NOUN
fsr-3259	289	11	of	of	ADP
fsr-3259	289	12	9.7	9.7	NUM
fsr-3259	289	13	basis	basis	NOUN
fsr-3259	289	14	points	point	NOUN
fsr-3259	289	15	;	;	PUNCT
fsr-3259	289	16	the	the	DET
fsr-3259	289	17	ag	ag	PROPN
fsr-3259	289	18	-	-	PROPN
fsr-3259	289	19	lg	lg	PROPN
fsr-3259	289	20	portfolio	portfolio	NOUN
fsr-3259	289	21	needs	need	VERB
fsr-3259	289	22	an	an	DET
fsr-3259	289	23	additional	additional	ADJ
fsr-3259	289	24	gross	gross	ADJ
fsr-3259	289	25	return	return	NOUN
fsr-3259	289	26	of	of	ADP
fsr-3259	289	27	10.6	10.6	NUM
fsr-3259	289	28	basis	basis	NOUN
fsr-3259	289	29	points	point	NOUN
fsr-3259	289	30	;	;	PUNCT
fsr-3259	289	31	and	and	CCONJ
fsr-3259	289	32	the	the	DET
fsr-3259	289	33	gi	gi	NOUN
fsr-3259	289	34	-	-	PUNCT
fsr-3259	289	35	lg	lg	NOUN
fsr-3259	289	36	portfolio	portfolio	NOUN
fsr-3259	289	37	needs	need	VERB
fsr-3259	289	38	an	an	DET
fsr-3259	289	39	additional	additional	ADJ
fsr-3259	289	40	gross	gross	ADJ
fsr-3259	289	41	return	return	NOUN
fsr-3259	289	42	of	of	ADP
fsr-3259	289	43	3.9	3.9	NUM
fsr-3259	289	44	basis	basis	NOUN
fsr-3259	289	45	points	point	NOUN
fsr-3259	289	46	.	.	PUNCT
fsr-3259	290	1	in	in	ADP
fsr-3259	290	2	summary	summary	NOUN
fsr-3259	290	3	,	,	PUNCT
fsr-3259	290	4	similar	similar	ADJ
fsr-3259	290	5	to	to	ADP
fsr-3259	290	6	an	an	DET
fsr-3259	290	7	increase	increase	NOUN
fsr-3259	290	8	in	in	ADP
fsr-3259	290	9	common	common	ADJ
fsr-3259	290	10	stock	stock	NOUN
fsr-3259	290	11	holdings	holding	NOUN
fsr-3259	290	12	,	,	PUNCT
fsr-3259	290	13	the	the	DET
fsr-3259	290	14	multi	multi	ADJ
fsr-3259	290	15	-	-	ADJ
fsr-3259	290	16	fund	fund	ADJ
fsr-3259	290	17	management	management	NOUN
fsr-3259	290	18	by	by	ADP
fsr-3259	290	19	exactly	exactly	ADV
fsr-3259	290	20	the	the	DET
fsr-3259	290	21	same	same	ADJ
fsr-3259	290	22	managers	manager	NOUN
fsr-3259	290	23	decreases	decrease	VERB
fsr-3259	290	24	a	a	DET
fsr-3259	290	25	portfolio	portfolio	NOUN
fsr-3259	290	26	’s	’s	PART
fsr-3259	290	27	expense	expense	NOUN
fsr-3259	290	28	ratio	ratio	NOUN
fsr-3259	290	29	,	,	PUNCT
fsr-3259	290	30	but	but	CCONJ
fsr-3259	290	31	increases	increase	VERB
fsr-3259	290	32	its	its	PRON
fsr-3259	290	33	risk	risk	NOUN
fsr-3259	290	34	.	.	PUNCT
fsr-3259	291	1	the	the	DET
fsr-3259	291	2	increased	increase	VERB
fsr-3259	291	3	risk	risk	NOUN
fsr-3259	291	4	can	can	AUX
fsr-3259	291	5	bring	bring	VERB
fsr-3259	291	6	a	a	DET
fsr-3259	291	7	negative	negative	ADJ
fsr-3259	291	8	net	net	ADJ
fsr-3259	291	9	effect	effect	NOUN
fsr-3259	291	10	on	on	ADP
fsr-3259	291	11	the	the	DET
fsr-3259	291	12	portfolio	portfolio	NOUN
fsr-3259	291	13	’s	’s	PART
fsr-3259	291	14	risk	risk	NOUN
fsr-3259	291	15	-	-	PUNCT
fsr-3259	291	16	adjusted	adjust	VERB
fsr-3259	291	17	return	return	NOUN
fsr-3259	291	18	,	,	PUNCT
fsr-3259	291	19	as	as	SCONJ
fsr-3259	291	20	shown	show	VERB
fsr-3259	291	21	in	in	ADP
fsr-3259	291	22	the	the	DET
fsr-3259	291	23	portfolios	portfolio	NOUN
fsr-3259	291	24	of	of	ADP
fsr-3259	291	25	ag	ag	PROPN
fsr-3259	291	26	-	-	PUNCT
fsr-3259	291	27	gi	gi	PROPN
fsr-3259	291	28	and	and	CCONJ
fsr-3259	291	29	ag	ag	PROPN
fsr-3259	291	30	-	-	PROPN
fsr-3259	291	31	lg	lg	NOUN
fsr-3259	291	32	.	.	PROPN
fsr-3259	291	33	6	6	NUM
fsr-3259	291	34	.	.	X
fsr-3259	291	35	conclusion	conclusion	NOUN
fsr-3259	291	36	in	in	ADP
fsr-3259	291	37	this	this	DET
fsr-3259	291	38	study	study	NOUN
fsr-3259	291	39	,	,	PUNCT
fsr-3259	291	40	we	we	PRON
fsr-3259	291	41	provide	provide	VERB
fsr-3259	291	42	extensive	extensive	ADJ
fsr-3259	291	43	evidence	evidence	NOUN
fsr-3259	291	44	that	that	SCONJ
fsr-3259	291	45	the	the	DET
fsr-3259	291	46	commonality	commonality	NOUN
fsr-3259	291	47	of	of	ADP
fsr-3259	291	48	funds	fund	NOUN
fsr-3259	291	49	within	within	ADP
fsr-3259	291	50	a	a	DET
fsr-3259	291	51	family	family	NOUN
fsr-3259	291	52	can	can	AUX
fsr-3259	291	53	influence	influence	VERB
fsr-3259	291	54	funds	fund	NOUN
fsr-3259	291	55	’	'	PUNCT
fsr-3259	291	56	operating	operating	NOUN
fsr-3259	291	57	expenses	expense	NOUN
fsr-3259	291	58	and	and	CCONJ
fsr-3259	291	59	return	return	VERB
fsr-3259	291	60	correlations	correlation	NOUN
fsr-3259	291	61	.	.	PUNCT
fsr-3259	292	1	using	use	VERB
fsr-3259	292	2	common	common	ADJ
fsr-3259	292	3	stock	stock	NOUN
fsr-3259	292	4	holdings	holding	NOUN
fsr-3259	292	5	and	and	CCONJ
fsr-3259	292	6	multi	multi	ADJ
fsr-3259	292	7	-	-	ADJ
fsr-3259	292	8	fund	fund	ADJ
fsr-3259	292	9	management	management	NOUN
fsr-3259	292	10	as	as	ADP
fsr-3259	292	11	proxies	proxy	NOUN
fsr-3259	292	12	for	for	ADP
fsr-3259	292	13	the	the	DET
fsr-3259	292	14	fund	fund	NOUN
fsr-3259	292	15	commonality	commonality	NOUN
fsr-3259	292	16	in	in	ADP
fsr-3259	292	17	a	a	DET
fsr-3259	292	18	family	family	NOUN
fsr-3259	292	19	,	,	PUNCT
fsr-3259	292	20	we	we	PRON
fsr-3259	292	21	have	have	AUX
fsr-3259	292	22	analyzed	analyze	VERB
fsr-3259	292	23	a	a	DET
fsr-3259	292	24	sample	sample	NOUN
fsr-3259	292	25	of	of	ADP
fsr-3259	292	26	154	154	NUM
fsr-3259	292	27	actively	actively	ADV
fsr-3259	292	28	managed	manage	VERB
fsr-3259	292	29	u.s	u.s	PROPN
fsr-3259	292	30	.	.	PROPN
fsr-3259	292	31	equity	equity	NOUN
fsr-3259	292	32	funds	fund	NOUN
fsr-3259	292	33	from	from	ADP
fsr-3259	292	34	46	46	NUM
fsr-3259	292	35	fund	fund	NOUN
fsr-3259	292	36	families	family	NOUN
fsr-3259	292	37	for	for	ADP
fsr-3259	292	38	the	the	DET
fsr-3259	292	39	period	period	NOUN
fsr-3259	292	40	of	of	ADP
fsr-3259	292	41	2001	2001	NUM
fsr-3259	292	42	to	to	ADP
fsr-3259	292	43	2006	2006	NUM
fsr-3259	292	44	.	.	PUNCT
fsr-3259	293	1	we	we	PRON
fsr-3259	293	2	first	first	ADV
fsr-3259	293	3	find	find	VERB
fsr-3259	293	4	that	that	SCONJ
fsr-3259	293	5	common	common	ADJ
fsr-3259	293	6	stock	stock	NOUN
fsr-3259	293	7	holdings	holding	NOUN
fsr-3259	293	8	and	and	CCONJ
fsr-3259	293	9	multi	multi	ADJ
fsr-3259	293	10	-	-	ADJ
fsr-3259	293	11	fund	fund	ADJ
fsr-3259	293	12	management	management	NOUN
fsr-3259	293	13	can	can	AUX
fsr-3259	293	14	decrease	decrease	VERB
fsr-3259	293	15	funds	fund	NOUN
fsr-3259	293	16	’	'	PUNCT
fsr-3259	293	17	operating	operating	NOUN
fsr-3259	293	18	expenses	expense	NOUN
fsr-3259	293	19	and	and	CCONJ
fsr-3259	293	20	that	that	SCONJ
fsr-3259	293	21	the	the	DET
fsr-3259	293	22	influences	influence	NOUN
fsr-3259	293	23	on	on	ADP
fsr-3259	293	24	fund	fund	NOUN
fsr-3259	293	25	operating	operating	NOUN
fsr-3259	293	26	expenses	expense	NOUN
fsr-3259	293	27	occur	occur	VERB
fsr-3259	293	28	through	through	ADP
fsr-3259	293	29	different	different	ADJ
fsr-3259	293	30	channels	channel	NOUN
fsr-3259	293	31	:	:	PUNCT
fsr-3259	293	32	common	common	ADJ
fsr-3259	293	33	stock	stock	NOUN
fsr-3259	293	34	holdings	holding	NOUN
fsr-3259	293	35	reduce	reduce	VERB
fsr-3259	293	36	a	a	DET
fsr-3259	293	37	fund	fund	NOUN
fsr-3259	293	38	’s	’s	PART
fsr-3259	293	39	management	management	NOUN
fsr-3259	293	40	fee	fee	NOUN
fsr-3259	293	41	while	while	SCONJ
fsr-3259	293	42	multi	multi	ADJ
fsr-3259	293	43	-	-	ADJ
fsr-3259	293	44	fund	fund	ADJ
fsr-3259	293	45	management	management	NOUN
fsr-3259	293	46	lowers	lower	VERB
fsr-3259	293	47	a	a	DET
fsr-3259	293	48	fund	fund	NOUN
fsr-3259	293	49	’s	’s	PART
fsr-3259	293	50	other	other	ADJ
fsr-3259	293	51	expenses	expense	NOUN
fsr-3259	293	52	that	that	PRON
fsr-3259	293	53	include	include	VERB
fsr-3259	293	54	administrative	administrative	ADJ
fsr-3259	293	55	fees	fee	NOUN
fsr-3259	293	56	.	.	PUNCT
fsr-3259	294	1	second	second	ADJ
fsr-3259	294	2	,	,	PUNCT
fsr-3259	294	3	we	we	PRON
fsr-3259	294	4	find	find	VERB
fsr-3259	294	5	that	that	SCONJ
fsr-3259	294	6	common	common	ADJ
fsr-3259	294	7	stock	stock	NOUN
fsr-3259	294	8	holdings	holding	NOUN
fsr-3259	294	9	and	and	CCONJ
fsr-3259	294	10	multi	multi	ADJ
fsr-3259	294	11	-	-	ADJ
fsr-3259	294	12	fund	fund	ADJ
fsr-3259	294	13	management	management	NOUN
fsr-3259	294	14	can	can	AUX
fsr-3259	294	15	increase	increase	VERB
fsr-3259	294	16	the	the	DET
fsr-3259	294	17	correlation	correlation	NOUN
fsr-3259	294	18	of	of	ADP
fsr-3259	294	19	return	return	NOUN
fsr-3259	294	20	residuals	residual	NOUN
fsr-3259	294	21	,	,	PUNCT
fsr-3259	294	22	which	which	PRON
fsr-3259	294	23	raises	raise	VERB
fsr-3259	294	24	the	the	DET
fsr-3259	294	25	correlation	correlation	NOUN
fsr-3259	294	26	of	of	ADP
fsr-3259	294	27	fund	fund	NOUN
fsr-3259	294	28	returns	return	NOUN
fsr-3259	294	29	.	.	PUNCT
fsr-3259	295	1	third	third	ADJ
fsr-3259	295	2	,	,	PUNCT
fsr-3259	295	3	because	because	SCONJ
fsr-3259	295	4	the	the	DET
fsr-3259	295	5	results	result	NOUN
fsr-3259	295	6	indicate	indicate	VERB
fsr-3259	295	7	opposite	opposite	ADJ
fsr-3259	295	8	effects	effect	NOUN
fsr-3259	295	9	of	of	ADP
fsr-3259	295	10	the	the	DET
fsr-3259	295	11	fund	fund	NOUN
fsr-3259	295	12	commonalities	commonality	NOUN
fsr-3259	295	13	on	on	ADP
fsr-3259	295	14	risk	risk	NOUN
fsr-3259	295	15	-	-	PUNCT
fsr-3259	295	16	adjusted	adjust	VERB
fsr-3259	295	17	returns	return	NOUN
fsr-3259	295	18	,	,	PUNCT
fsr-3259	295	19	we	we	PRON
fsr-3259	295	20	have	have	AUX
fsr-3259	295	21	investigated	investigate	VERB
fsr-3259	295	22	net	net	ADJ
fsr-3259	295	23	effects	effect	NOUN
fsr-3259	295	24	on	on	ADP
fsr-3259	295	25	risk	risk	NOUN
fsr-3259	295	26	-	-	PUNCT
fsr-3259	295	27	adjusted	adjust	VERB
fsr-3259	295	28	returns	return	NOUN
fsr-3259	295	29	of	of	ADP
fsr-3259	295	30	portfolios	portfolio	NOUN
fsr-3259	295	31	with	with	ADP
fsr-3259	295	32	equity	equity	NOUN
fsr-3259	295	33	funds	fund	NOUN
fsr-3259	295	34	that	that	PRON
fsr-3259	295	35	have	have	VERB
fsr-3259	295	36	different	different	ADJ
fsr-3259	295	37	investment	investment	NOUN
fsr-3259	295	38	objectives	objective	NOUN
fsr-3259	295	39	and	and	CCONJ
fsr-3259	295	40	found	find	VERB
fsr-3259	295	41	that	that	SCONJ
fsr-3259	295	42	the	the	DET
fsr-3259	295	43	fund	fund	NOUN
fsr-3259	295	44	commonalities	commonality	NOUN
fsr-3259	295	45	can	can	AUX
fsr-3259	295	46	have	have	VERB
fsr-3259	295	47	negative	negative	ADJ
fsr-3259	295	48	net	net	ADJ
fsr-3259	295	49	effects	effect	NOUN
fsr-3259	295	50	on	on	ADP
fsr-3259	295	51	the	the	DET
fsr-3259	295	52	portfolios	portfolio	NOUN
fsr-3259	295	53	’	'	PUNCT
fsr-3259	295	54	risk	risk	NOUN
fsr-3259	295	55	-	-	PUNCT
fsr-3259	295	56	adjusted	adjust	VERB
fsr-3259	295	57	returns	return	NOUN
fsr-3259	295	58	.	.	PUNCT
fsr-3259	296	1	this	this	DET
fsr-3259	296	2	study	study	NOUN
fsr-3259	296	3	enhances	enhance	VERB
fsr-3259	296	4	an	an	DET
fsr-3259	296	5	understanding	understanding	NOUN
fsr-3259	296	6	of	of	ADP
fsr-3259	296	7	the	the	DET
fsr-3259	296	8	commonality	commonality	NOUN
fsr-3259	296	9	of	of	ADP
fsr-3259	296	10	funds	fund	NOUN
fsr-3259	296	11	within	within	ADP
fsr-3259	296	12	a	a	DET
fsr-3259	296	13	family	family	NOUN
fsr-3259	296	14	.	.	PUNCT
fsr-3259	297	1	we	we	PRON
fsr-3259	297	2	expand	expand	VERB
fsr-3259	297	3	previous	previous	ADJ
fsr-3259	297	4	research	research	NOUN
fsr-3259	297	5	by	by	ADP
fsr-3259	297	6	showing	show	VERB
fsr-3259	297	7	that	that	DET
fsr-3259	297	8	fund	fund	NOUN
fsr-3259	297	9	commonalities	commonality	NOUN
fsr-3259	297	10	within	within	ADP
fsr-3259	297	11	a	a	DET
fsr-3259	297	12	family	family	NOUN
fsr-3259	297	13	can	can	AUX
fsr-3259	297	14	influence	influence	VERB
fsr-3259	297	15	45y	45y	NUM
fsr-3259	297	16	.	.	PUNCT
fsr-3259	298	1	park	park	NOUN
fsr-3259	298	2	/	/	SYM
fsr-3259	298	3	financial	financial	ADJ
fsr-3259	298	4	services	service	NOUN
fsr-3259	298	5	review	review	VERB
fsr-3259	298	6	25	25	NUM
fsr-3259	298	7	(	(	PUNCT
fsr-3259	298	8	2016	2016	NUM
fsr-3259	298	9	)	)	PUNCT
fsr-3259	298	10	29–49	29–49	NUM
fsr-3259	298	11	fund	fund	NOUN
fsr-3259	298	12	operating	operating	NOUN
fsr-3259	298	13	expenses	expense	NOUN
fsr-3259	298	14	and	and	CCONJ
fsr-3259	298	15	return	return	VERB
fsr-3259	298	16	correlations	correlation	NOUN
fsr-3259	298	17	.	.	PUNCT
fsr-3259	299	1	this	this	DET
fsr-3259	299	2	study	study	NOUN
fsr-3259	299	3	also	also	ADV
fsr-3259	299	4	provides	provide	VERB
fsr-3259	299	5	practical	practical	ADJ
fsr-3259	299	6	implications	implication	NOUN
fsr-3259	299	7	to	to	ADP
fsr-3259	299	8	individual	individual	ADJ
fsr-3259	299	9	mutual	mutual	ADJ
fsr-3259	299	10	fund	fund	NOUN
fsr-3259	299	11	investors	investor	NOUN
fsr-3259	299	12	.	.	PUNCT
fsr-3259	300	1	when	when	SCONJ
fsr-3259	300	2	investors	investor	NOUN
fsr-3259	300	3	construct	construct	VERB
fsr-3259	300	4	a	a	DET
fsr-3259	300	5	portfolio	portfolio	NOUN
fsr-3259	300	6	with	with	ADP
fsr-3259	300	7	different	different	ADJ
fsr-3259	300	8	low	low	ADJ
fsr-3259	300	9	-	-	PUNCT
fsr-3259	300	10	cost	cost	NOUN
fsr-3259	300	11	equity	equity	NOUN
fsr-3259	300	12	funds	fund	NOUN
fsr-3259	300	13	from	from	ADP
fsr-3259	300	14	a	a	DET
fsr-3259	300	15	single	single	ADJ
fsr-3259	300	16	family	family	NOUN
fsr-3259	300	17	,	,	PUNCT
fsr-3259	300	18	they	they	PRON
fsr-3259	300	19	should	should	AUX
fsr-3259	300	20	be	be	AUX
fsr-3259	300	21	aware	aware	ADJ
fsr-3259	300	22	of	of	ADP
fsr-3259	300	23	an	an	DET
fsr-3259	300	24	investment	investment	NOUN
fsr-3259	300	25	risk	risk	NOUN
fsr-3259	300	26	that	that	PRON
fsr-3259	300	27	fund	fund	VERB
fsr-3259	300	28	commonalities	commonality	NOUN
fsr-3259	300	29	that	that	PRON
fsr-3259	300	30	lower	low	ADJ
fsr-3259	300	31	fund	fund	NOUN
fsr-3259	300	32	operating	operating	NOUN
fsr-3259	300	33	expenses	expense	NOUN
fsr-3259	300	34	can	can	AUX
fsr-3259	300	35	increase	increase	VERB
fsr-3259	300	36	the	the	DET
fsr-3259	300	37	correlation	correlation	NOUN
fsr-3259	300	38	of	of	ADP
fsr-3259	300	39	fund	fund	NOUN
fsr-3259	300	40	returns	return	NOUN
fsr-3259	300	41	and	and	CCONJ
fsr-3259	300	42	,	,	PUNCT
fsr-3259	300	43	as	as	ADP
fsr-3259	300	44	a	a	DET
fsr-3259	300	45	result	result	NOUN
fsr-3259	300	46	,	,	PUNCT
fsr-3259	300	47	can	can	AUX
fsr-3259	300	48	reduce	reduce	VERB
fsr-3259	300	49	the	the	DET
fsr-3259	300	50	portfolio	portfolio	NOUN
fsr-3259	300	51	’s	’s	PART
fsr-3259	300	52	risk	risk	NOUN
fsr-3259	300	53	-	-	PUNCT
fsr-3259	300	54	adjusted	adjust	VERB
fsr-3259	300	55	return	return	NOUN
fsr-3259	300	56	.	.	PUNCT
fsr-3259	301	1	in	in	ADP
fsr-3259	301	2	other	other	ADJ
fsr-3259	301	3	words	word	NOUN
fsr-3259	301	4	,	,	PUNCT
fsr-3259	301	5	when	when	SCONJ
fsr-3259	301	6	expense	expense	NOUN
fsr-3259	301	7	-	-	PUNCT
fsr-3259	301	8	conscious	conscious	ADJ
fsr-3259	301	9	investors	investor	NOUN
fsr-3259	301	10	invest	invest	VERB
fsr-3259	301	11	in	in	ADP
fsr-3259	301	12	equity	equity	NOUN
fsr-3259	301	13	funds	fund	NOUN
fsr-3259	301	14	in	in	ADP
fsr-3259	301	15	the	the	DET
fsr-3259	301	16	same	same	ADJ
fsr-3259	301	17	family	family	NOUN
fsr-3259	301	18	,	,	PUNCT
fsr-3259	301	19	they	they	PRON
fsr-3259	301	20	need	need	VERB
fsr-3259	301	21	to	to	PART
fsr-3259	301	22	pay	pay	VERB
fsr-3259	301	23	additional	additional	ADJ
fsr-3259	301	24	attention	attention	NOUN
fsr-3259	301	25	to	to	PART
fsr-3259	301	26	fund	fund	VERB
fsr-3259	301	27	commonalities	commonality	NOUN
fsr-3259	301	28	such	such	ADJ
fsr-3259	301	29	as	as	ADP
fsr-3259	301	30	funds	fund	NOUN
fsr-3259	301	31	’	'	PUNCT
fsr-3259	301	32	common	common	ADJ
fsr-3259	301	33	stock	stock	NOUN
fsr-3259	301	34	holdings	holding	NOUN
fsr-3259	301	35	and	and	CCONJ
fsr-3259	301	36	management	management	NOUN
fsr-3259	301	37	structure	structure	NOUN
fsr-3259	301	38	.	.	PUNCT
fsr-3259	302	1	notes	note	VERB
fsr-3259	302	2	1	1	NUM
fsr-3259	302	3	mutual	mutual	ADJ
fsr-3259	302	4	fund	fund	NOUN
fsr-3259	302	5	investors	investor	NOUN
fsr-3259	302	6	have	have	AUX
fsr-3259	302	7	also	also	ADV
fsr-3259	302	8	invested	invest	VERB
fsr-3259	302	9	largely	largely	ADV
fsr-3259	302	10	in	in	ADP
fsr-3259	302	11	low	low	ADJ
fsr-3259	302	12	-	-	PUNCT
fsr-3259	302	13	cost	cost	NOUN
fsr-3259	302	14	funds	fund	NOUN
fsr-3259	302	15	.	.	PUNCT
fsr-3259	303	1	for	for	ADP
fsr-3259	303	2	example	example	NOUN
fsr-3259	303	3	,	,	PUNCT
fsr-3259	303	4	at	at	ADP
fsr-3259	303	5	year	year	NOUN
fsr-3259	303	6	-	-	PUNCT
fsr-3259	303	7	end	end	NOUN
fsr-3259	303	8	2014	2014	NUM
fsr-3259	303	9	,	,	PUNCT
fsr-3259	303	10	equity	equity	NOUN
fsr-3259	303	11	funds	fund	NOUN
fsr-3259	303	12	with	with	ADP
fsr-3259	303	13	expense	expense	NOUN
fsr-3259	303	14	ratios	ratio	NOUN
fsr-3259	303	15	in	in	ADP
fsr-3259	303	16	the	the	DET
fsr-3259	303	17	lowest	low	ADJ
fsr-3259	303	18	quartile	quartile	NOUN
fsr-3259	303	19	held	hold	VERB
fsr-3259	303	20	74	74	NUM
fsr-3259	303	21	%	%	NOUN
fsr-3259	303	22	of	of	ADP
fsr-3259	303	23	the	the	DET
fsr-3259	303	24	funds	fund	NOUN
fsr-3259	303	25	’	'	PUNCT
fsr-3259	303	26	total	total	ADJ
fsr-3259	303	27	net	net	ADJ
fsr-3259	303	28	assets	asset	NOUN
fsr-3259	303	29	,	,	PUNCT
fsr-3259	303	30	whereas	whereas	SCONJ
fsr-3259	303	31	those	those	PRON
fsr-3259	303	32	with	with	ADP
fsr-3259	303	33	expense	expense	NOUN
fsr-3259	303	34	ratios	ratio	NOUN
fsr-3259	303	35	in	in	ADP
fsr-3259	303	36	the	the	DET
fsr-3259	303	37	upper	upper	ADJ
fsr-3259	303	38	three	three	NUM
fsr-3259	303	39	quartiles	quartile	NOUN
fsr-3259	303	40	held	hold	VERB
fsr-3259	303	41	only	only	ADV
fsr-3259	303	42	26	26	NUM
fsr-3259	303	43	%	%	NOUN
fsr-3259	303	44	(	(	PUNCT
fsr-3259	303	45	ici	ici	NOUN
fsr-3259	303	46	,	,	PUNCT
fsr-3259	303	47	2015	2015	NUM
fsr-3259	303	48	)	)	PUNCT
fsr-3259	303	49	.	.	PUNCT
fsr-3259	304	1	2	2	NUM
fsr-3259	304	2	the	the	DET
fsr-3259	304	3	transaction	transaction	NOUN
fsr-3259	304	4	services	service	NOUN
fsr-3259	304	5	include	include	VERB
fsr-3259	304	6	providing	provide	VERB
fsr-3259	304	7	statements	statement	NOUN
fsr-3259	304	8	and	and	CCONJ
fsr-3259	304	9	reports	report	NOUN
fsr-3259	304	10	,	,	PUNCT
fsr-3259	304	11	disbursing	disburse	VERB
fsr-3259	304	12	dividends	dividend	NOUN
fsr-3259	304	13	,	,	PUNCT
fsr-3259	304	14	and	and	CCONJ
fsr-3259	304	15	paying	pay	VERB
fsr-3259	304	16	state	state	NOUN
fsr-3259	304	17	and	and	CCONJ
fsr-3259	304	18	local	local	ADJ
fsr-3259	304	19	taxes	taxis	NOUN
fsr-3259	304	20	and	and	CCONJ
fsr-3259	304	21	custodial	custodial	ADJ
fsr-3259	304	22	,	,	PUNCT
fsr-3259	304	23	legal	legal	ADJ
fsr-3259	304	24	,	,	PUNCT
fsr-3259	304	25	audit	audit	NOUN
fsr-3259	304	26	,	,	PUNCT
fsr-3259	304	27	registration	registration	NOUN
fsr-3259	304	28	,	,	PUNCT
fsr-3259	304	29	and	and	CCONJ
fsr-3259	304	30	directors	director	NOUN
fsr-3259	304	31	’	'	PUNCT
fsr-3259	304	32	fees	fee	NOUN
fsr-3259	304	33	(	(	PUNCT
fsr-3259	304	34	collins	collin	NOUN
fsr-3259	304	35	,	,	PUNCT
fsr-3259	304	36	2003	2003	NUM
fsr-3259	304	37	;	;	PUNCT
fsr-3259	304	38	latzko	latzko	PROPN
fsr-3259	304	39	,	,	PUNCT
fsr-3259	304	40	1999	1999	NUM
fsr-3259	304	41	)	)	PUNCT
fsr-3259	304	42	.	.	PUNCT
fsr-3259	305	1	3	3	NUM
fsr-3259	305	2	to	to	PART
fsr-3259	305	3	merge	merge	VERB
fsr-3259	305	4	the	the	DET
fsr-3259	305	5	crsp	crsp	NOUN
fsr-3259	305	6	and	and	CCONJ
fsr-3259	305	7	the	the	DET
fsr-3259	305	8	thomson	thomson	NOUN
fsr-3259	305	9	financial	financial	PROPN
fsr-3259	305	10	mutual	mutual	ADJ
fsr-3259	305	11	fund	fund	NOUN
fsr-3259	305	12	holdings	holding	NOUN
fsr-3259	305	13	,	,	PUNCT
fsr-3259	305	14	we	we	PRON
fsr-3259	305	15	use	use	VERB
fsr-3259	305	16	the	the	DET
fsr-3259	305	17	mflinks	mflink	NOUN
fsr-3259	305	18	files	file	NOUN
fsr-3259	305	19	from	from	ADP
fsr-3259	305	20	the	the	DET
fsr-3259	305	21	wharton	wharton	PROPN
fsr-3259	305	22	research	research	NOUN
fsr-3259	305	23	data	datum	NOUN
fsr-3259	305	24	services	service	NOUN
fsr-3259	305	25	(	(	PUNCT
fsr-3259	305	26	wrds	wrd	NOUN
fsr-3259	305	27	)	)	PUNCT
fsr-3259	305	28	.	.	PUNCT
fsr-3259	306	1	4	4	NUM
fsr-3259	306	2	when	when	SCONJ
fsr-3259	306	3	using	use	VERB
fsr-3259	306	4	fund	fund	NOUN
fsr-3259	306	5	returns	return	NOUN
fsr-3259	306	6	to	to	PART
fsr-3259	306	7	merge	merge	VERB
fsr-3259	306	8	the	the	DET
fsr-3259	306	9	two	two	NUM
fsr-3259	306	10	databases	database	NOUN
fsr-3259	306	11	,	,	PUNCT
fsr-3259	306	12	we	we	PRON
fsr-3259	306	13	focus	focus	VERB
fsr-3259	306	14	on	on	ADP
fsr-3259	306	15	monthly	monthly	ADJ
fsr-3259	306	16	returns	return	NOUN
fsr-3259	306	17	in	in	ADP
fsr-3259	306	18	december	december	PROPN
fsr-3259	306	19	and	and	CCONJ
fsr-3259	306	20	compare	compare	VERB
fsr-3259	306	21	fund	fund	NOUN
fsr-3259	306	22	returns	return	NOUN
fsr-3259	306	23	reported	report	VERB
fsr-3259	306	24	from	from	ADP
fsr-3259	306	25	the	the	DET
fsr-3259	306	26	two	two	NUM
fsr-3259	306	27	databases	database	NOUN
fsr-3259	306	28	.	.	PUNCT
fsr-3259	307	1	when	when	SCONJ
fsr-3259	307	2	the	the	DET
fsr-3259	307	3	difference	difference	NOUN
fsr-3259	307	4	in	in	ADP
fsr-3259	307	5	returns	return	NOUN
fsr-3259	307	6	is	be	AUX
fsr-3259	307	7	less	less	ADJ
fsr-3259	307	8	than	than	ADP
fsr-3259	307	9	or	or	CCONJ
fsr-3259	307	10	equal	equal	ADJ
fsr-3259	307	11	to	to	ADP
fsr-3259	307	12	10	10	NUM
fsr-3259	307	13	basis	basis	NOUN
fsr-3259	307	14	points	point	NOUN
fsr-3259	307	15	in	in	ADP
fsr-3259	307	16	any	any	DET
fsr-3259	307	17	year	year	NOUN
fsr-3259	307	18	,	,	PUNCT
fsr-3259	307	19	we	we	PRON
fsr-3259	307	20	include	include	VERB
fsr-3259	307	21	the	the	DET
fsr-3259	307	22	funds	fund	NOUN
fsr-3259	307	23	in	in	ADP
fsr-3259	307	24	the	the	DET
fsr-3259	307	25	sample	sample	NOUN
fsr-3259	307	26	.	.	PUNCT
fsr-3259	308	1	however	however	ADV
fsr-3259	308	2	,	,	PUNCT
fsr-3259	308	3	when	when	SCONJ
fsr-3259	308	4	the	the	DET
fsr-3259	308	5	return	return	NOUN
fsr-3259	308	6	difference	difference	NOUN
fsr-3259	308	7	is	be	AUX
fsr-3259	308	8	greater	great	ADJ
fsr-3259	308	9	than	than	ADP
fsr-3259	308	10	10	10	NUM
fsr-3259	308	11	basis	basis	NOUN
fsr-3259	308	12	points	point	NOUN
fsr-3259	308	13	,	,	PUNCT
fsr-3259	308	14	we	we	PRON
fsr-3259	308	15	drop	drop	VERB
fsr-3259	308	16	the	the	DET
fsr-3259	308	17	funds	fund	NOUN
fsr-3259	308	18	from	from	ADP
fsr-3259	308	19	the	the	DET
fsr-3259	308	20	merging	merging	NOUN
fsr-3259	308	21	process	process	NOUN
fsr-3259	308	22	.	.	PUNCT
fsr-3259	309	1	5	5	NUM
fsr-3259	309	2	the	the	DET
fsr-3259	309	3	morningstar	morningstar	NOUN
fsr-3259	309	4	adds	add	VERB
fsr-3259	309	5	a	a	DET
fsr-3259	309	6	note	note	NOUN
fsr-3259	309	7	that	that	SCONJ
fsr-3259	309	8	funds	fund	NOUN
fsr-3259	309	9	having	have	VERB
fsr-3259	309	10	distinct	distinct	ADJ
fsr-3259	309	11	portfolios	portfolio	NOUN
fsr-3259	309	12	are	be	AUX
fsr-3259	309	13	likely	likely	ADJ
fsr-3259	309	14	to	to	PART
fsr-3259	309	15	have	have	VERB
fsr-3259	309	16	the	the	DET
fsr-3259	309	17	a	a	DET
fsr-3259	309	18	share	share	NOUN
fsr-3259	309	19	class	class	NOUN
fsr-3259	309	20	.	.	PUNCT
fsr-3259	310	1	6	6	NUM
fsr-3259	310	2	an	an	DET
fsr-3259	310	3	inclusion	inclusion	NOUN
fsr-3259	310	4	of	of	ADP
fsr-3259	310	5	the	the	DET
fsr-3259	310	6	14	14	NUM
fsr-3259	310	7	dropped	drop	VERB
fsr-3259	310	8	observations	observation	NOUN
fsr-3259	310	9	does	do	AUX
fsr-3259	310	10	not	not	PART
fsr-3259	310	11	make	make	VERB
fsr-3259	310	12	regression	regression	NOUN
fsr-3259	310	13	results	result	NOUN
fsr-3259	310	14	significantly	significantly	ADV
fsr-3259	310	15	different	different	ADJ
fsr-3259	310	16	from	from	ADP
fsr-3259	310	17	the	the	DET
fsr-3259	310	18	results	result	NOUN
fsr-3259	310	19	reported	report	VERB
fsr-3259	310	20	in	in	ADP
fsr-3259	310	21	this	this	DET
fsr-3259	310	22	article	article	NOUN
fsr-3259	310	23	.	.	PUNCT
fsr-3259	311	1	7	7	NUM
fsr-3259	311	2	year	year	NOUN
fsr-3259	311	3	-	-	PUNCT
fsr-3259	311	4	end	end	NOUN
fsr-3259	311	5	stock	stock	NOUN
fsr-3259	311	6	holdings	holding	NOUN
fsr-3259	311	7	that	that	PRON
fsr-3259	311	8	are	be	AUX
fsr-3259	311	9	used	use	VERB
fsr-3259	311	10	to	to	PART
fsr-3259	311	11	calculate	calculate	VERB
fsr-3259	311	12	the	the	DET
fsr-3259	311	13	average	average	ADJ
fsr-3259	311	14	common	common	ADJ
fsr-3259	311	15	stock	stock	NOUN
fsr-3259	311	16	holding	holding	NOUN
fsr-3259	311	17	between	between	ADP
fsr-3259	311	18	funds	fund	NOUN
fsr-3259	311	19	are	be	AUX
fsr-3259	311	20	not	not	PART
fsr-3259	311	21	matched	match	VERB
fsr-3259	311	22	with	with	ADP
fsr-3259	311	23	monthly	monthly	ADJ
fsr-3259	311	24	fund	fund	NOUN
fsr-3259	311	25	returns	return	NOUN
fsr-3259	311	26	that	that	PRON
fsr-3259	311	27	are	be	AUX
fsr-3259	311	28	used	use	VERB
fsr-3259	311	29	to	to	PART
fsr-3259	311	30	compute	compute	VERB
fsr-3259	311	31	the	the	DET
fsr-3259	311	32	correlations	correlation	NOUN
fsr-3259	311	33	of	of	ADP
fsr-3259	311	34	return	return	NOUN
fsr-3259	311	35	residuals	residual	NOUN
fsr-3259	311	36	.	.	PUNCT
fsr-3259	312	1	however	however	ADV
fsr-3259	312	2	,	,	PUNCT
fsr-3259	312	3	using	use	VERB
fsr-3259	312	4	the	the	DET
fsr-3259	312	5	annual	annual	ADJ
fsr-3259	312	6	holdings	holding	NOUN
fsr-3259	312	7	data	datum	NOUN
fsr-3259	312	8	would	would	AUX
fsr-3259	312	9	not	not	PART
fsr-3259	312	10	significantly	significantly	ADV
fsr-3259	312	11	affect	affect	VERB
fsr-3259	312	12	results	result	NOUN
fsr-3259	312	13	reported	report	VERB
fsr-3259	312	14	in	in	ADP
fsr-3259	312	15	this	this	DET
fsr-3259	312	16	study	study	NOUN
fsr-3259	312	17	because	because	SCONJ
fsr-3259	312	18	it	it	PRON
fsr-3259	312	19	focuses	focus	VERB
fsr-3259	312	20	on	on	ADP
fsr-3259	312	21	common	common	ADJ
fsr-3259	312	22	stock	stock	NOUN
fsr-3259	312	23	holdings	holding	NOUN
fsr-3259	312	24	of	of	ADP
fsr-3259	312	25	funds	fund	NOUN
fsr-3259	312	26	in	in	ADP
fsr-3259	312	27	the	the	DET
fsr-3259	312	28	same	same	ADJ
fsr-3259	312	29	family	family	NOUN
fsr-3259	312	30	rather	rather	ADV
fsr-3259	312	31	than	than	ADP
fsr-3259	312	32	funds	fund	NOUN
fsr-3259	312	33	’	'	PUNCT
fsr-3259	312	34	trading	trading	NOUN
fsr-3259	312	35	behavior	behavior	NOUN
fsr-3259	312	36	in	in	ADP
fsr-3259	312	37	which	which	PRON
fsr-3259	312	38	a	a	DET
fsr-3259	312	39	more	more	ADV
fsr-3259	312	40	precise	precise	ADJ
fsr-3259	312	41	measurement	measurement	NOUN
fsr-3259	312	42	of	of	ADP
fsr-3259	312	43	the	the	DET
fsr-3259	312	44	timing	timing	NOUN
fsr-3259	312	45	of	of	ADP
fsr-3259	312	46	trades	trade	NOUN
fsr-3259	312	47	,	,	PUNCT
fsr-3259	312	48	such	such	ADJ
fsr-3259	312	49	as	as	ADP
fsr-3259	312	50	monthly	monthly	ADJ
fsr-3259	312	51	holdings	holding	NOUN
fsr-3259	312	52	data	datum	NOUN
fsr-3259	312	53	,	,	PUNCT
fsr-3259	312	54	is	be	AUX
fsr-3259	312	55	needed	need	VERB
fsr-3259	312	56	(	(	PUNCT
fsr-3259	312	57	elton	elton	PROPN
fsr-3259	312	58	et	et	PROPN
fsr-3259	312	59	al	al	PROPN
fsr-3259	312	60	.	.	PROPN
fsr-3259	312	61	,	,	PUNCT
fsr-3259	312	62	2010	2010	NUM
fsr-3259	312	63	)	)	PUNCT
fsr-3259	312	64	.	.	PUNCT
fsr-3259	313	1	8	8	NUM
fsr-3259	313	2	for	for	ADP
fsr-3259	313	3	common	common	ADJ
fsr-3259	313	4	stock	stock	NOUN
fsr-3259	313	5	holdings	holding	NOUN
fsr-3259	313	6	by	by	ADP
fsr-3259	313	7	fund	fund	NOUN
fsr-3259	313	8	investment	investment	NOUN
fsr-3259	313	9	objectives	objective	NOUN
fsr-3259	313	10	,	,	PUNCT
fsr-3259	313	11	pairwise	pairwise	PROPN
fsr-3259	313	12	t	t	PROPN
fsr-3259	313	13	-	-	PUNCT
fsr-3259	313	14	test	test	NOUN
fsr-3259	313	15	results	result	NOUN
fsr-3259	313	16	show	show	VERB
fsr-3259	313	17	that	that	SCONJ
fsr-3259	313	18	common	common	ADJ
fsr-3259	313	19	stock	stock	NOUN
fsr-3259	313	20	holdings	holding	NOUN
fsr-3259	313	21	are	be	AUX
fsr-3259	313	22	significantly	significantly	ADV
fsr-3259	313	23	different	different	ADJ
fsr-3259	313	24	among	among	ADP
fsr-3259	313	25	the	the	DET
fsr-3259	313	26	three	three	NUM
fsr-3259	313	27	investment	investment	NOUN
fsr-3259	313	28	objectives	objective	NOUN
fsr-3259	313	29	:	:	PUNCT
fsr-3259	313	30	the	the	DET
fsr-3259	313	31	difference	difference	NOUN
fsr-3259	313	32	between	between	ADP
fsr-3259	313	33	ag	ag	PROPN
fsr-3259	313	34	and	and	CCONJ
fsr-3259	313	35	lg	lg	NOUN
fsr-3259	313	36	funds	fund	NOUN
fsr-3259	313	37	is	be	AUX
fsr-3259	313	38	significant	significant	ADJ
fsr-3259	313	39	at	at	ADP
fsr-3259	313	40	1	1	NUM
fsr-3259	313	41	%	%	NOUN
fsr-3259	313	42	level	level	NOUN
fsr-3259	313	43	(	(	PUNCT
fsr-3259	313	44	t	t	PROPN
fsr-3259	313	45	-	-	PUNCT
fsr-3259	313	46	statistics	statistic	NOUN
fsr-3259	313	47	�	�	PROPN
fsr-3259	313	48	5.03	5.03	NUM
fsr-3259	313	49	)	)	PUNCT
fsr-3259	313	50	and	and	CCONJ
fsr-3259	313	51	the	the	DET
fsr-3259	313	52	differences	difference	NOUN
fsr-3259	313	53	between	between	ADP
fsr-3259	313	54	ag	ag	PROPN
fsr-3259	313	55	and	and	CCONJ
fsr-3259	313	56	gi	gi	NOUN
fsr-3259	313	57	and	and	CCONJ
fsr-3259	313	58	between	between	ADP
fsr-3259	313	59	gi	gi	NOUN
fsr-3259	313	60	and	and	CCONJ
fsr-3259	313	61	lg	lg	NOUN
fsr-3259	313	62	funds	fund	NOUN
fsr-3259	313	63	are	be	AUX
fsr-3259	313	64	significant	significant	ADJ
fsr-3259	313	65	at	at	ADP
fsr-3259	313	66	5	5	NUM
fsr-3259	313	67	%	%	NOUN
fsr-3259	313	68	level	level	NOUN
fsr-3259	313	69	(	(	PUNCT
fsr-3259	313	70	t	t	NOUN
fsr-3259	313	71	-	-	PUNCT
fsr-3259	313	72	statistics	statistic	NOUN
fsr-3259	313	73	�	�	PROPN
fsr-3259	313	74	2.41	2.41	NUM
fsr-3259	313	75	for	for	ADP
fsr-3259	313	76	ag	ag	PROPN
fsr-3259	313	77	-	-	PUNCT
fsr-3259	313	78	gi	gi	PROPN
fsr-3259	313	79	and	and	CCONJ
fsr-3259	313	80	t	t	PROPN
fsr-3259	313	81	-	-	PUNCT
fsr-3259	313	82	statistics	statistic	NOUN
fsr-3259	313	83	�	�	PROPN
fsr-3259	313	84	2.45	2.45	NUM
fsr-3259	313	85	for	for	ADP
fsr-3259	313	86	gi	gi	NOUN
fsr-3259	313	87	-	-	PUNCT
fsr-3259	313	88	lg	lg	NOUN
fsr-3259	313	89	)	)	PUNCT
fsr-3259	313	90	.	.	PUNCT
fsr-3259	314	1	for	for	ADP
fsr-3259	314	2	the	the	DET
fsr-3259	314	3	multi	multi	ADJ
fsr-3259	314	4	-	-	ADJ
fsr-3259	314	5	fund	fund	NOUN
fsr-3259	314	6	management	management	NOUN
fsr-3259	314	7	,	,	PUNCT
fsr-3259	314	8	pairwise	pairwise	PROPN
fsr-3259	314	9	t	t	PROPN
fsr-3259	314	10	-	-	PUNCT
fsr-3259	314	11	test	test	NOUN
fsr-3259	314	12	results	result	NOUN
fsr-3259	314	13	show	show	VERB
fsr-3259	314	14	that	that	SCONJ
fsr-3259	314	15	the	the	DET
fsr-3259	314	16	difference	difference	NOUN
fsr-3259	314	17	between	between	ADP
fsr-3259	314	18	ag	ag	PROPN
fsr-3259	314	19	and	and	CCONJ
fsr-3259	314	20	lg	lg	NOUN
fsr-3259	314	21	funds	fund	NOUN
fsr-3259	314	22	are	be	AUX
fsr-3259	314	23	significant	significant	ADJ
fsr-3259	314	24	at	at	ADP
fsr-3259	314	25	5	5	NUM
fsr-3259	314	26	%	%	NOUN
fsr-3259	314	27	level	level	NOUN
fsr-3259	314	28	(	(	PUNCT
fsr-3259	314	29	t	t	NOUN
fsr-3259	314	30	-	-	PUNCT
fsr-3259	314	31	statistics	statistic	NOUN
fsr-3259	314	32	�	�	PROPN
fsr-3259	314	33	2.31	2.31	NUM
fsr-3259	314	34	)	)	PUNCT
fsr-3259	314	35	46	46	NUM
fsr-3259	314	36	y.	y.	PROPN
fsr-3259	314	37	park	park	PROPN
fsr-3259	314	38	/	/	SYM
fsr-3259	314	39	financial	financial	ADJ
fsr-3259	314	40	services	service	NOUN
fsr-3259	314	41	review	review	VERB
fsr-3259	314	42	25	25	NUM
fsr-3259	314	43	(	(	PUNCT
fsr-3259	314	44	2016	2016	NUM
fsr-3259	314	45	)	)	PUNCT
fsr-3259	314	46	29–49	29–49	NUM
fsr-3259	315	1	but	but	CCONJ
fsr-3259	315	2	the	the	DET
fsr-3259	315	3	differences	difference	NOUN
fsr-3259	315	4	between	between	ADP
fsr-3259	315	5	ag	ag	PROPN
fsr-3259	315	6	and	and	CCONJ
fsr-3259	315	7	gi	gi	VERB
fsr-3259	315	8	funds	fund	NOUN
fsr-3259	315	9	and	and	CCONJ
fsr-3259	315	10	between	between	ADP
fsr-3259	315	11	gi	gi	NOUN
fsr-3259	315	12	and	and	CCONJ
fsr-3259	315	13	lg	lg	NOUN
fsr-3259	315	14	funds	fund	NOUN
fsr-3259	315	15	are	be	AUX
fsr-3259	315	16	not	not	PART
fsr-3259	315	17	statistically	statistically	ADV
fsr-3259	315	18	significant	significant	ADJ
fsr-3259	315	19	.	.	PUNCT
fsr-3259	316	1	9	9	NUM
fsr-3259	316	2	common	common	ADJ
fsr-3259	316	3	stock	stock	NOUN
fsr-3259	316	4	holding	holding	NOUN
fsr-3259	316	5	and	and	CCONJ
fsr-3259	316	6	multi	multi	ADJ
fsr-3259	316	7	-	-	ADJ
fsr-3259	316	8	fund	fund	ADJ
fsr-3259	316	9	management	management	NOUN
fsr-3259	316	10	are	be	AUX
fsr-3259	316	11	weakly	weakly	ADV
fsr-3259	316	12	positively	positively	ADV
fsr-3259	316	13	correlated	correlate	VERB
fsr-3259	316	14	with	with	ADP
fsr-3259	316	15	a	a	DET
fsr-3259	316	16	correlation	correlation	NOUN
fsr-3259	316	17	coefficient	coefficient	NOUN
fsr-3259	316	18	of	of	ADP
fsr-3259	316	19	0.137	0.137	NUM
fsr-3259	316	20	(	(	PUNCT
fsr-3259	316	21	p	p	PROPN
fsr-3259	316	22	�	�	PROPN
fsr-3259	316	23	0.001	0.001	NUM
fsr-3259	316	24	)	)	PUNCT
fsr-3259	316	25	.	.	PUNCT
fsr-3259	317	1	the	the	DET
fsr-3259	317	2	positive	positive	ADJ
fsr-3259	317	3	correlation	correlation	NOUN
fsr-3259	317	4	,	,	PUNCT
fsr-3259	317	5	however	however	ADV
fsr-3259	317	6	,	,	PUNCT
fsr-3259	317	7	does	do	AUX
fsr-3259	317	8	not	not	PART
fsr-3259	317	9	cause	cause	VERB
fsr-3259	317	10	a	a	DET
fsr-3259	317	11	serious	serious	ADJ
fsr-3259	317	12	multi	multi	NOUN
fsr-3259	317	13	-	-	NOUN
fsr-3259	317	14	collinearity	collinearity	NOUN
fsr-3259	317	15	in	in	ADP
fsr-3259	317	16	estimating	estimate	VERB
fsr-3259	317	17	the	the	DET
fsr-3259	317	18	regression	regression	NOUN
fsr-3259	317	19	models	model	NOUN
fsr-3259	317	20	of	of	ADP
fsr-3259	317	21	eqs	eqs	PROPN
fsr-3259	317	22	.	.	PUNCT
fsr-3259	318	1	(	(	PUNCT
fsr-3259	318	2	5	5	NUM
fsr-3259	318	3	)	)	PUNCT
fsr-3259	318	4	and	and	CCONJ
fsr-3259	318	5	(	(	PUNCT
fsr-3259	318	6	8)	8)	NUM
fsr-3259	318	7	.	.	PUNCT
fsr-3259	319	1	for	for	ADP
fsr-3259	319	2	example	example	NOUN
fsr-3259	319	3	,	,	PUNCT
fsr-3259	319	4	the	the	DET
fsr-3259	319	5	values	value	NOUN
fsr-3259	319	6	of	of	ADP
fsr-3259	319	7	the	the	DET
fsr-3259	319	8	variance	variance	NOUN
fsr-3259	319	9	inflation	inflation	NOUN
fsr-3259	319	10	factor	factor	NOUN
fsr-3259	319	11	(	(	PUNCT
fsr-3259	319	12	vif	vif	PROPN
fsr-3259	319	13	)	)	PUNCT
fsr-3259	319	14	for	for	ADP
fsr-3259	319	15	both	both	DET
fsr-3259	319	16	variables	variable	NOUN
fsr-3259	319	17	are	be	AUX
fsr-3259	319	18	lower	low	ADJ
fsr-3259	319	19	than	than	ADP
fsr-3259	319	20	10	10	NUM
fsr-3259	319	21	,	,	PUNCT
fsr-3259	319	22	which	which	PRON
fsr-3259	319	23	is	be	AUX
fsr-3259	319	24	usually	usually	ADV
fsr-3259	319	25	used	use	VERB
fsr-3259	319	26	to	to	PART
fsr-3259	319	27	indicate	indicate	VERB
fsr-3259	319	28	whether	whether	SCONJ
fsr-3259	319	29	a	a	DET
fsr-3259	319	30	serious	serious	ADJ
fsr-3259	319	31	multi	multi	ADJ
fsr-3259	319	32	-	-	ADJ
fsr-3259	319	33	collinearity	collinearity	ADJ
fsr-3259	319	34	problem	problem	NOUN
fsr-3259	319	35	exists	exist	VERB
fsr-3259	319	36	or	or	CCONJ
fsr-3259	319	37	not	not	PART
fsr-3259	319	38	(	(	PUNCT
fsr-3259	319	39	e.g.	e.g.	ADV
fsr-3259	319	40	,	,	PUNCT
fsr-3259	319	41	hair	hair	NOUN
fsr-3259	319	42	et	et	PROPN
fsr-3259	319	43	al	al	PROPN
fsr-3259	319	44	.	.	PROPN
fsr-3259	319	45	,	,	PUNCT
fsr-3259	319	46	1995	1995	NUM
fsr-3259	319	47	;	;	PUNCT
fsr-3259	319	48	kennedy	kennedy	PROPN
fsr-3259	319	49	,	,	PUNCT
fsr-3259	319	50	1992	1992	NUM
fsr-3259	319	51	;	;	PUNCT
fsr-3259	319	52	neter	neter	PROPN
fsr-3259	319	53	,	,	PUNCT
fsr-3259	319	54	wasserman	wasserman	NOUN
fsr-3259	319	55	,	,	PUNCT
fsr-3259	319	56	and	and	CCONJ
fsr-3259	319	57	kutner	kutner	PROPN
fsr-3259	319	58	,	,	PUNCT
fsr-3259	319	59	1989	1989	NUM
fsr-3259	319	60	)	)	PUNCT
fsr-3259	319	61	.	.	PUNCT
fsr-3259	320	1	10	10	NUM
fsr-3259	320	2	we	we	PRON
fsr-3259	320	3	check	check	VERB
fsr-3259	320	4	the	the	DET
fsr-3259	320	5	robustness	robustness	NOUN
fsr-3259	320	6	of	of	ADP
fsr-3259	320	7	the	the	DET
fsr-3259	320	8	results	result	NOUN
fsr-3259	320	9	presented	present	VERB
fsr-3259	320	10	in	in	ADP
fsr-3259	320	11	table	table	NOUN
fsr-3259	320	12	3	3	NUM
fsr-3259	320	13	,	,	PUNCT
fsr-3259	320	14	using	use	VERB
fsr-3259	320	15	the	the	DET
fsr-3259	320	16	data	datum	NOUN
fsr-3259	320	17	on	on	ADP
fsr-3259	320	18	fund	fund	NOUN
fsr-3259	320	19	expense	expense	NOUN
fsr-3259	320	20	ratios	ratio	NOUN
fsr-3259	320	21	from	from	ADP
fsr-3259	320	22	the	the	DET
fsr-3259	320	23	morningstar	morningstar	NOUN
fsr-3259	320	24	,	,	PUNCT
fsr-3259	320	25	instead	instead	ADV
fsr-3259	320	26	of	of	ADP
fsr-3259	320	27	the	the	DET
fsr-3259	320	28	crsp	crsp	NOUN
fsr-3259	320	29	.	.	PUNCT
fsr-3259	321	1	appendix	appendix	VERB
fsr-3259	321	2	a	a	DET
fsr-3259	321	3	reports	report	NOUN
fsr-3259	321	4	regression	regression	NOUN
fsr-3259	321	5	results	result	NOUN
fsr-3259	321	6	.	.	PUNCT
fsr-3259	322	1	the	the	DET
fsr-3259	322	2	results	result	NOUN
fsr-3259	322	3	are	be	AUX
fsr-3259	322	4	not	not	PART
fsr-3259	322	5	significantly	significantly	ADV
fsr-3259	322	6	different	different	ADJ
fsr-3259	322	7	from	from	ADP
fsr-3259	322	8	those	those	PRON
fsr-3259	322	9	reported	report	VERB
fsr-3259	322	10	in	in	ADP
fsr-3259	322	11	table	table	NOUN
fsr-3259	322	12	3	3	NUM
fsr-3259	322	13	.	.	PUNCT
fsr-3259	323	1	thus	thus	ADV
fsr-3259	323	2	,	,	PUNCT
fsr-3259	323	3	our	our	PRON
fsr-3259	323	4	results	result	NOUN
fsr-3259	323	5	are	be	AUX
fsr-3259	323	6	robust	robust	ADJ
fsr-3259	323	7	to	to	ADP
fsr-3259	323	8	the	the	DET
fsr-3259	323	9	use	use	NOUN
fsr-3259	323	10	of	of	ADP
fsr-3259	323	11	different	different	ADJ
fsr-3259	323	12	data	datum	NOUN
fsr-3259	323	13	sources	source	NOUN
fsr-3259	323	14	for	for	ADP
fsr-3259	323	15	fund	fund	NOUN
fsr-3259	323	16	expense	expense	NOUN
fsr-3259	323	17	ratios	ratio	NOUN
fsr-3259	323	18	.	.	PUNCT
fsr-3259	324	1	11	11	NUM
fsr-3259	324	2	the	the	DET
fsr-3259	324	3	assumption	assumption	NOUN
fsr-3259	324	4	of	of	ADP
fsr-3259	324	5	no	no	DET
fsr-3259	324	6	change	change	NOUN
fsr-3259	324	7	in	in	ADP
fsr-3259	324	8	12b-1	12b-1	NUM
fsr-3259	324	9	fees	fee	NOUN
fsr-3259	324	10	would	would	AUX
fsr-3259	324	11	be	be	AUX
fsr-3259	324	12	valid	valid	ADJ
fsr-3259	324	13	because	because	SCONJ
fsr-3259	324	14	a	a	DET
fsr-3259	324	15	12b-1	12b-1	NUM
fsr-3259	324	16	fee	fee	NOUN
fsr-3259	324	17	that	that	PRON
fsr-3259	324	18	relates	relate	VERB
fsr-3259	324	19	to	to	ADP
fsr-3259	324	20	distribution	distribution	NOUN
fsr-3259	324	21	services	service	NOUN
fsr-3259	324	22	is	be	AUX
fsr-3259	324	23	less	less	ADV
fsr-3259	324	24	likely	likely	ADJ
fsr-3259	324	25	to	to	PART
fsr-3259	324	26	be	be	AUX
fsr-3259	324	27	affected	affect	VERB
fsr-3259	324	28	by	by	ADP
fsr-3259	324	29	a	a	DET
fsr-3259	324	30	change	change	NOUN
fsr-3259	324	31	in	in	ADP
fsr-3259	324	32	fund	fund	NOUN
fsr-3259	324	33	holdings	holding	NOUN
fsr-3259	324	34	or	or	CCONJ
fsr-3259	324	35	fund	fund	NOUN
fsr-3259	324	36	management	management	NOUN
fsr-3259	324	37	structure	structure	NOUN
fsr-3259	324	38	.	.	PUNCT
fsr-3259	325	1	appendix	appendix	VERB
fsr-3259	325	2	a	a	DET
fsr-3259	325	3	robustness	robustness	NOUN
fsr-3259	325	4	check	check	NOUN
fsr-3259	325	5	for	for	ADP
fsr-3259	325	6	the	the	DET
fsr-3259	325	7	effects	effect	NOUN
fsr-3259	325	8	of	of	ADP
fsr-3259	325	9	fund	fund	NOUN
fsr-3259	325	10	commonalities	commonality	NOUN
fsr-3259	325	11	on	on	ADP
fsr-3259	325	12	fund	fund	NOUN
fsr-3259	325	13	expenses	expense	NOUN
fsr-3259	325	14	operating	operate	VERB
fsr-3259	325	15	expense	expense	NOUN
fsr-3259	325	16	management	management	NOUN
fsr-3259	325	17	fee	fee	NOUN
fsr-3259	325	18	other	other	ADJ
fsr-3259	325	19	expenses	expense	NOUN
fsr-3259	325	20	(	(	PUNCT
fsr-3259	325	21	1	1	NUM
fsr-3259	325	22	)	)	PUNCT
fsr-3259	325	23	(	(	PUNCT
fsr-3259	325	24	2	2	NUM
fsr-3259	325	25	)	)	PUNCT
fsr-3259	325	26	(	(	PUNCT
fsr-3259	325	27	3	3	X
fsr-3259	325	28	)	)	PUNCT
fsr-3259	325	29	(	(	PUNCT
fsr-3259	325	30	4	4	NUM
fsr-3259	325	31	)	)	PUNCT
fsr-3259	325	32	(	(	PUNCT
fsr-3259	325	33	5	5	NUM
fsr-3259	325	34	)	)	PUNCT
fsr-3259	325	35	(	(	PUNCT
fsr-3259	325	36	6	6	X
fsr-3259	325	37	)	)	PUNCT
fsr-3259	325	38	common	common	ADJ
fsr-3259	325	39	stock	stock	NOUN
fsr-3259	325	40	holding	hold	VERB
fsr-3259	325	41	�	�	PROPN
fsr-3259	325	42	0.248	0.248	NUM
fsr-3259	325	43	*	*	SYM
fsr-3259	325	44	*	*	PUNCT
fsr-3259	325	45	�	�	PROPN
fsr-3259	325	46	0.275	0.275	NUM
fsr-3259	325	47	*	*	PUNCT
fsr-3259	325	48	*	*	PUNCT
fsr-3259	325	49	�	�	PROPN
fsr-3259	325	50	0.158	0.158	NUM
fsr-3259	325	51	*	*	PUNCT
fsr-3259	325	52	*	*	PUNCT
fsr-3259	325	53	�	�	PROPN
fsr-3259	325	54	0.076	0.076	NUM
fsr-3259	325	55	*	*	PUNCT
fsr-3259	325	56	�	�	PROPN
fsr-3259	325	57	0.037	0.037	NUM
fsr-3259	325	58	�	�	PROPN
fsr-3259	325	59	0.128	0.128	NUM
fsr-3259	325	60	*	*	NOUN
fsr-3259	325	61	*	*	PUNCT
fsr-3259	325	62	(	(	PUNCT
fsr-3259	325	63	0.047	0.047	NUM
fsr-3259	325	64	)	)	PUNCT
fsr-3259	325	65	(	(	PUNCT
fsr-3259	325	66	0.064	0.064	NUM
fsr-3259	325	67	)	)	PUNCT
fsr-3259	325	68	(	(	PUNCT
fsr-3259	325	69	0.032	0.032	NUM
fsr-3259	325	70	)	)	PUNCT
fsr-3259	325	71	(	(	PUNCT
fsr-3259	325	72	0.035	0.035	NUM
fsr-3259	325	73	)	)	PUNCT
fsr-3259	325	74	(	(	PUNCT
fsr-3259	325	75	0.036	0.036	NUM
fsr-3259	325	76	)	)	PUNCT
fsr-3259	325	77	(	(	PUNCT
fsr-3259	325	78	0.043	0.043	NUM
fsr-3259	325	79	)	)	PUNCT
fsr-3259	325	80	multi	multi	ADJ
fsr-3259	325	81	-	-	ADJ
fsr-3259	325	82	fund	fund	ADJ
fsr-3259	325	83	management	management	NOUN
fsr-3259	325	84	(	(	PUNCT
fsr-3259	325	85	yes	yes	INTJ
fsr-3259	325	86	�	�	PROPN
fsr-3259	325	87	1	1	NUM
fsr-3259	325	88	)	)	PUNCT
fsr-3259	325	89	�	�	PROPN
fsr-3259	325	90	0.067	0.067	NUM
fsr-3259	325	91	*	*	PROPN
fsr-3259	325	92	*	*	PROPN
fsr-3259	325	93	�	�	PROPN
fsr-3259	325	94	0.054	0.054	NUM
fsr-3259	325	95	*	*	PUNCT
fsr-3259	325	96	0.014	0.014	NUM
fsr-3259	325	97	0.018	0.018	NUM
fsr-3259	325	98	�	�	PROPN
fsr-3259	325	99	0.074	0.074	NUM
fsr-3259	325	100	*	*	PROPN
fsr-3259	325	101	*	*	PUNCT
fsr-3259	325	102	�	�	PROPN
fsr-3259	325	103	0.054	0.054	NUM
fsr-3259	325	104	*	*	NOUN
fsr-3259	325	105	*	*	PUNCT
fsr-3259	325	106	(	(	PUNCT
fsr-3259	325	107	0.016	0.016	NUM
fsr-3259	325	108	)	)	PUNCT
fsr-3259	325	109	(	(	PUNCT
fsr-3259	325	110	0.025	0.025	NUM
fsr-3259	325	111	)	)	PUNCT
fsr-3259	325	112	(	(	PUNCT
fsr-3259	325	113	0.012	0.012	NUM
fsr-3259	325	114	)	)	PUNCT
fsr-3259	325	115	(	(	PUNCT
fsr-3259	325	116	0.016	0.016	NUM
fsr-3259	325	117	)	)	PUNCT
fsr-3259	325	118	(	(	PUNCT
fsr-3259	325	119	0.012	0.012	NUM
fsr-3259	325	120	)	)	PUNCT
fsr-3259	325	121	(	(	PUNCT
fsr-3259	325	122	0.020	0.020	NUM
fsr-3259	325	123	)	)	PUNCT
fsr-3259	325	124	turnover	turnover	NOUN
fsr-3259	325	125	ratio	ratio	NOUN
fsr-3259	325	126	�	�	PROPN
fsr-3259	325	127	0.018	0.018	NUM
fsr-3259	325	128	�	�	PROPN
fsr-3259	325	129	0.001	0.001	NUM
fsr-3259	325	130	�	�	PROPN
fsr-3259	325	131	0.018	0.018	NUM
fsr-3259	325	132	*	*	NOUN
fsr-3259	325	133	*	*	PUNCT
fsr-3259	325	134	�	�	PROPN
fsr-3259	325	135	0.012	0.012	NUM
fsr-3259	325	136	�	�	PROPN
fsr-3259	325	137	0.002	0.002	NUM
fsr-3259	325	138	0.016	0.016	NUM
fsr-3259	325	139	*	*	PUNCT
fsr-3259	325	140	(	(	PUNCT
fsr-3259	325	141	0.012	0.012	NUM
fsr-3259	325	142	)	)	PUNCT
fsr-3259	325	143	(	(	PUNCT
fsr-3259	325	144	0.010	0.010	NUM
fsr-3259	325	145	)	)	PUNCT
fsr-3259	325	146	(	(	PUNCT
fsr-3259	325	147	0.007	0.007	NUM
fsr-3259	325	148	)	)	PUNCT
fsr-3259	325	149	(	(	PUNCT
fsr-3259	325	150	0.007	0.007	NUM
fsr-3259	325	151	)	)	PUNCT
fsr-3259	325	152	(	(	PUNCT
fsr-3259	325	153	0.009	0.009	NUM
fsr-3259	325	154	)	)	PUNCT
fsr-3259	325	155	(	(	PUNCT
fsr-3259	325	156	0.008	0.008	NUM
fsr-3259	325	157	)	)	PUNCT
fsr-3259	325	158	load	load	NOUN
fsr-3259	325	159	fund	fund	NOUN
fsr-3259	325	160	(	(	PUNCT
fsr-3259	325	161	yes	yes	INTJ
fsr-3259	325	162	�	�	PROPN
fsr-3259	325	163	1	1	NUM
fsr-3259	325	164	)	)	PUNCT
fsr-3259	325	165	0.044	0.044	NUM
fsr-3259	325	166	�	�	PROPN
fsr-3259	325	167	0.093	0.093	NUM
fsr-3259	325	168	0.032	0.032	NUM
fsr-3259	325	169	�	�	PROPN
fsr-3259	325	170	0.014	0.014	NUM
fsr-3259	325	171	0.012	0.012	NUM
fsr-3259	325	172	�	�	PROPN
fsr-3259	325	173	0.065	0.065	NUM
fsr-3259	325	174	(	(	PUNCT
fsr-3259	325	175	0.103	0.103	NUM
fsr-3259	325	176	)	)	PUNCT
fsr-3259	325	177	(	(	PUNCT
fsr-3259	325	178	0.066	0.066	NUM
fsr-3259	325	179	)	)	PUNCT
fsr-3259	325	180	(	(	PUNCT
fsr-3259	325	181	0.033	0.033	NUM
fsr-3259	325	182	)	)	PUNCT
fsr-3259	325	183	(	(	PUNCT
fsr-3259	325	184	0.014	0.014	NUM
fsr-3259	325	185	)	)	PUNCT
fsr-3259	325	186	(	(	PUNCT
fsr-3259	325	187	0.081	0.081	NUM
fsr-3259	325	188	)	)	PUNCT
fsr-3259	325	189	(	(	PUNCT
fsr-3259	325	190	0.059	0.059	NUM
fsr-3259	325	191	)	)	PUNCT
fsr-3259	325	192	growth	growth	NOUN
fsr-3259	325	193	and	and	CCONJ
fsr-3259	325	194	income	income	NOUN
fsr-3259	325	195	(	(	PUNCT
fsr-3259	325	196	gi	gi	NOUN
fsr-3259	325	197	)	)	PUNCT
fsr-3259	325	198	�	�	PROPN
fsr-3259	325	199	0.200	0.200	NUM
fsr-3259	325	200	*	*	PROPN
fsr-3259	325	201	*	*	PUNCT
fsr-3259	325	202	�	�	PROPN
fsr-3259	325	203	0.186	0.186	NUM
fsr-3259	325	204	*	*	PUNCT
fsr-3259	325	205	*	*	PUNCT
fsr-3259	325	206	�	�	PROPN
fsr-3259	325	207	0.180	0.180	NUM
fsr-3259	325	208	*	*	NOUN
fsr-3259	325	209	*	*	PUNCT
fsr-3259	325	210	�	�	PROPN
fsr-3259	325	211	0.165	0.165	NUM
fsr-3259	325	212	*	*	PUNCT
fsr-3259	325	213	*	*	PROPN
fsr-3259	325	214	�	�	PROPN
fsr-3259	325	215	0.020	0.020	NUM
fsr-3259	325	216	�	�	NOUN
fsr-3259	325	217	0.038	0.038	NUM
fsr-3259	325	218	*	*	NOUN
fsr-3259	325	219	*	*	PUNCT
fsr-3259	325	220	(	(	PUNCT
fsr-3259	325	221	0.019	0.019	NUM
fsr-3259	325	222	)	)	PUNCT
fsr-3259	325	223	(	(	PUNCT
fsr-3259	325	224	0.017	0.017	NUM
fsr-3259	325	225	)	)	PUNCT
fsr-3259	325	226	(	(	PUNCT
fsr-3259	325	227	0.015	0.015	NUM
fsr-3259	325	228	)	)	PUNCT
fsr-3259	325	229	(	(	PUNCT
fsr-3259	325	230	0.010	0.010	NUM
fsr-3259	325	231	)	)	PUNCT
fsr-3259	325	232	(	(	PUNCT
fsr-3259	325	233	0.016	0.016	NUM
fsr-3259	325	234	)	)	PUNCT
fsr-3259	325	235	(	(	PUNCT
fsr-3259	325	236	0.013	0.013	NUM
fsr-3259	325	237	)	)	PUNCT
fsr-3259	325	238	long	long	ADJ
fsr-3259	325	239	-	-	PUNCT
fsr-3259	325	240	term	term	NOUN
fsr-3259	325	241	growth	growth	NOUN
fsr-3259	325	242	(	(	PUNCT
fsr-3259	325	243	lg	lg	NOUN
fsr-3259	325	244	)	)	PUNCT
fsr-3259	325	245	�	�	PROPN
fsr-3259	325	246	0.087	0.087	NUM
fsr-3259	325	247	*	*	NOUN
fsr-3259	325	248	*	*	PUNCT
fsr-3259	325	249	�	�	PROPN
fsr-3259	325	250	0.092	0.092	NUM
fsr-3259	325	251	*	*	PUNCT
fsr-3259	325	252	*	*	PUNCT
fsr-3259	325	253	�	�	PROPN
fsr-3259	325	254	0.087	0.087	NUM
fsr-3259	325	255	*	*	NOUN
fsr-3259	325	256	*	*	PUNCT
fsr-3259	325	257	�	�	PROPN
fsr-3259	325	258	0.079	0.079	NUM
fsr-3259	325	259	*	*	PROPN
fsr-3259	325	260	*	*	PROPN
fsr-3259	325	261	�	�	PROPN
fsr-3259	325	262	0.001	0.001	NUM
fsr-3259	325	263	�	�	NOUN
fsr-3259	325	264	0.030	0.030	NUM
fsr-3259	325	265	*	*	NOUN
fsr-3259	325	266	*	*	PUNCT
fsr-3259	325	267	(	(	PUNCT
fsr-3259	325	268	0.019	0.019	NUM
fsr-3259	325	269	)	)	PUNCT
fsr-3259	325	270	(	(	PUNCT
fsr-3259	325	271	0.013	0.013	NUM
fsr-3259	325	272	)	)	PUNCT
fsr-3259	325	273	(	(	PUNCT
fsr-3259	325	274	0.013	0.013	NUM
fsr-3259	325	275	)	)	PUNCT
fsr-3259	325	276	(	(	PUNCT
fsr-3259	325	277	0.008	0.008	NUM
fsr-3259	325	278	)	)	PUNCT
fsr-3259	325	279	(	(	PUNCT
fsr-3259	325	280	0.016	0.016	NUM
fsr-3259	325	281	)	)	PUNCT
fsr-3259	325	282	(	(	PUNCT
fsr-3259	325	283	0.011	0.011	NUM
fsr-3259	325	284	)	)	PUNCT
fsr-3259	325	285	fund	fund	NOUN
fsr-3259	325	286	size	size	NOUN
fsr-3259	325	287	�	�	NOUN
fsr-3259	325	288	0.088	0.088	NUM
fsr-3259	325	289	*	*	PUNCT
fsr-3259	325	290	*	*	PUNCT
fsr-3259	325	291	�	�	PROPN
fsr-3259	325	292	0.068	0.068	NUM
fsr-3259	325	293	*	*	PROPN
fsr-3259	325	294	*	*	PROPN
fsr-3259	325	295	�	�	PROPN
fsr-3259	325	296	0.043	0.043	NUM
fsr-3259	325	297	*	*	NOUN
fsr-3259	325	298	*	*	X
fsr-3259	325	299	�	�	PROPN
fsr-3259	325	300	0.028	0.028	NUM
fsr-3259	325	301	*	*	PROPN
fsr-3259	325	302	*	*	X
fsr-3259	325	303	�	�	PROPN
fsr-3259	325	304	0.044	0.044	NUM
fsr-3259	325	305	*	*	PROPN
fsr-3259	325	306	*	*	PROPN
fsr-3259	325	307	�	�	PROPN
fsr-3259	325	308	0.042	0.042	NUM
fsr-3259	325	309	*	*	NOUN
fsr-3259	325	310	*	*	PUNCT
fsr-3259	325	311	(	(	PUNCT
fsr-3259	325	312	0.010	0.010	NUM
fsr-3259	325	313	)	)	PUNCT
fsr-3259	325	314	(	(	PUNCT
fsr-3259	325	315	0.012	0.012	NUM
fsr-3259	325	316	)	)	PUNCT
fsr-3259	325	317	(	(	PUNCT
fsr-3259	325	318	0.006	0.006	NUM
fsr-3259	325	319	)	)	PUNCT
fsr-3259	325	320	(	(	PUNCT
fsr-3259	325	321	0.006	0.006	NUM
fsr-3259	325	322	)	)	PUNCT
fsr-3259	325	323	(	(	PUNCT
fsr-3259	325	324	0.007	0.007	NUM
fsr-3259	325	325	)	)	PUNCT
fsr-3259	325	326	(	(	PUNCT
fsr-3259	325	327	0.008	0.008	NUM
fsr-3259	325	328	)	)	PUNCT
fsr-3259	325	329	family	family	NOUN
fsr-3259	325	330	size	size	NOUN
fsr-3259	325	331	�	�	PROPN
fsr-3259	325	332	0.033	0.033	NUM
fsr-3259	325	333	*	*	NOUN
fsr-3259	325	334	*	*	SYM
fsr-3259	325	335	0.004	0.004	NUM
fsr-3259	325	336	�	�	PROPN
fsr-3259	325	337	0.038	0.038	NUM
fsr-3259	325	338	*	*	PUNCT
fsr-3259	325	339	*	*	PROPN
fsr-3259	325	340	0.011	0.011	NUM
fsr-3259	325	341	0.004	0.004	NUM
fsr-3259	325	342	0.008	0.008	NUM
fsr-3259	325	343	(	(	PUNCT
fsr-3259	325	344	0.005	0.005	NUM
fsr-3259	325	345	)	)	PUNCT
fsr-3259	325	346	(	(	PUNCT
fsr-3259	325	347	0.015	0.015	NUM
fsr-3259	325	348	)	)	PUNCT
fsr-3259	325	349	(	(	PUNCT
fsr-3259	325	350	0.004	0.004	NUM
fsr-3259	325	351	)	)	PUNCT
fsr-3259	325	352	(	(	PUNCT
fsr-3259	325	353	0.016	0.016	NUM
fsr-3259	325	354	)	)	PUNCT
fsr-3259	325	355	(	(	PUNCT
fsr-3259	325	356	0.004	0.004	NUM
fsr-3259	325	357	)	)	PUNCT
fsr-3259	325	358	(	(	PUNCT
fsr-3259	325	359	0.012	0.012	NUM
fsr-3259	325	360	)	)	PUNCT
fsr-3259	325	361	year	year	NOUN
fsr-3259	325	362	fixed	fix	VERB
fsr-3259	325	363	effects	effect	NOUN
fsr-3259	326	1	yes	yes	INTJ
fsr-3259	327	1	yes	yes	INTJ
fsr-3259	328	1	yes	yes	INTJ
fsr-3259	329	1	yes	yes	INTJ
fsr-3259	330	1	yes	yes	INTJ
fsr-3259	331	1	yes	yes	INTJ
fsr-3259	331	2	family	family	NOUN
fsr-3259	331	3	fixed	fix	VERB
fsr-3259	331	4	effects	effect	NOUN
fsr-3259	332	1	no	no	INTJ
fsr-3259	332	2	yes	yes	INTJ
fsr-3259	333	1	no	no	INTJ
fsr-3259	334	1	yes	yes	INTJ
fsr-3259	335	1	no	no	INTJ
fsr-3259	335	2	yes	yes	INTJ
fsr-3259	335	3	observations	observation	NOUN
fsr-3259	335	4	817	817	NUM
fsr-3259	335	5	817	817	NUM
fsr-3259	335	6	895	895	NUM
fsr-3259	335	7	895	895	NUM
fsr-3259	335	8	817	817	NUM
fsr-3259	335	9	817	817	NUM
fsr-3259	335	10	adjusted	adjust	VERB
fsr-3259	335	11	r2	r2	NOUN
fsr-3259	335	12	0.432	0.432	NUM
fsr-3259	335	13	0.701	0.701	NUM
fsr-3259	335	14	0.468	0.468	NUM
fsr-3259	335	15	0.807	0.807	NUM
fsr-3259	335	16	0.103	0.103	NUM
fsr-3259	335	17	0.546	0.546	NUM
fsr-3259	335	18	notes	note	VERB
fsr-3259	335	19	:	:	PUNCT
fsr-3259	335	20	this	this	DET
fsr-3259	335	21	table	table	NOUN
fsr-3259	335	22	is	be	AUX
fsr-3259	335	23	to	to	PART
fsr-3259	335	24	check	check	VERB
fsr-3259	335	25	the	the	DET
fsr-3259	335	26	robustness	robustness	NOUN
fsr-3259	335	27	of	of	ADP
fsr-3259	335	28	the	the	DET
fsr-3259	335	29	results	result	NOUN
fsr-3259	335	30	presented	present	VERB
fsr-3259	335	31	in	in	ADP
fsr-3259	335	32	table	table	NOUN
fsr-3259	335	33	3	3	NUM
fsr-3259	335	34	,	,	PUNCT
fsr-3259	335	35	using	use	VERB
fsr-3259	335	36	the	the	DET
fsr-3259	335	37	data	datum	NOUN
fsr-3259	335	38	on	on	ADP
fsr-3259	335	39	fund	fund	NOUN
fsr-3259	335	40	expense	expense	NOUN
fsr-3259	335	41	ratios	ratio	NOUN
fsr-3259	335	42	from	from	ADP
fsr-3259	335	43	the	the	DET
fsr-3259	335	44	morningstar	morningstar	NOUN
fsr-3259	335	45	,	,	PUNCT
fsr-3259	335	46	instead	instead	ADV
fsr-3259	335	47	of	of	ADP
fsr-3259	335	48	the	the	DET
fsr-3259	335	49	crsp	crsp	NOUN
fsr-3259	335	50	.	.	PUNCT
fsr-3259	336	1	the	the	DET
fsr-3259	336	2	dependent	dependent	ADJ
fsr-3259	336	3	variables	variable	NOUN
fsr-3259	336	4	are	be	AUX
fsr-3259	336	5	operating	operate	VERB
fsr-3259	336	6	expense	expense	NOUN
fsr-3259	336	7	(	(	PUNCT
fsr-3259	336	8	columns	column	NOUN
fsr-3259	336	9	1	1	NUM
fsr-3259	336	10	and	and	CCONJ
fsr-3259	336	11	2	2	NUM
fsr-3259	336	12	)	)	PUNCT
fsr-3259	336	13	,	,	PUNCT
fsr-3259	336	14	management	management	NOUN
fsr-3259	336	15	fee	fee	NOUN
fsr-3259	336	16	(	(	PUNCT
fsr-3259	336	17	columns	column	NOUN
fsr-3259	336	18	3	3	NUM
fsr-3259	336	19	and	and	CCONJ
fsr-3259	336	20	4	4	NUM
fsr-3259	336	21	)	)	PUNCT
fsr-3259	336	22	,	,	PUNCT
fsr-3259	336	23	and	and	CCONJ
fsr-3259	336	24	other	other	ADJ
fsr-3259	336	25	expense	expense	NOUN
fsr-3259	336	26	(	(	PUNCT
fsr-3259	336	27	columns	column	NOUN
fsr-3259	336	28	5	5	NUM
fsr-3259	336	29	and	and	CCONJ
fsr-3259	336	30	6	6	NUM
fsr-3259	336	31	)	)	PUNCT
fsr-3259	336	32	of	of	ADP
fsr-3259	336	33	mutual	mutual	ADJ
fsr-3259	336	34	funds	fund	NOUN
fsr-3259	336	35	.	.	PUNCT
fsr-3259	337	1	fund	fund	NOUN
fsr-3259	337	2	size	size	NOUN
fsr-3259	337	3	and	and	CCONJ
fsr-3259	337	4	family	family	NOUN
fsr-3259	337	5	size	size	NOUN
fsr-3259	337	6	indicate	indicate	VERB
fsr-3259	337	7	the	the	DET
fsr-3259	337	8	natural	natural	ADJ
fsr-3259	337	9	logarithm	logarithm	NOUN
fsr-3259	337	10	of	of	ADP
fsr-3259	337	11	one	one	NUM
fsr-3259	337	12	plus	plus	CCONJ
fsr-3259	337	13	a	a	DET
fsr-3259	337	14	fund	fund	NOUN
fsr-3259	337	15	’s	’s	PART
fsr-3259	337	16	year	year	NOUN
fsr-3259	337	17	-	-	PUNCT
fsr-3259	337	18	end	end	NOUN
fsr-3259	337	19	total	total	ADJ
fsr-3259	337	20	net	net	ADJ
fsr-3259	337	21	assets	asset	NOUN
fsr-3259	337	22	(	(	PUNCT
fsr-3259	337	23	in	in	ADP
fsr-3259	337	24	billions	billion	NOUN
fsr-3259	337	25	)	)	PUNCT
fsr-3259	337	26	and	and	CCONJ
fsr-3259	337	27	the	the	DET
fsr-3259	337	28	natural	natural	ADJ
fsr-3259	337	29	logarithm	logarithm	NOUN
fsr-3259	337	30	of	of	ADP
fsr-3259	337	31	one	one	NUM
fsr-3259	337	32	plus	plus	CCONJ
fsr-3259	337	33	the	the	DET
fsr-3259	337	34	year	year	NOUN
fsr-3259	337	35	-	-	PUNCT
fsr-3259	337	36	end	end	NOUN
fsr-3259	337	37	total	total	ADJ
fsr-3259	337	38	net	net	ADJ
fsr-3259	337	39	assets	asset	NOUN
fsr-3259	337	40	(	(	PUNCT
fsr-3259	337	41	in	in	ADP
fsr-3259	337	42	billions	billion	NOUN
fsr-3259	337	43	)	)	PUNCT
fsr-3259	337	44	managed	manage	VERB
fsr-3259	337	45	by	by	ADP
fsr-3259	337	46	a	a	DET
fsr-3259	337	47	family	family	NOUN
fsr-3259	337	48	,	,	PUNCT
fsr-3259	337	49	respectively	respectively	ADV
fsr-3259	337	50	.	.	PUNCT
fsr-3259	338	1	robust	robust	ADJ
fsr-3259	338	2	standard	standard	ADJ
fsr-3259	338	3	errors	error	NOUN
fsr-3259	338	4	are	be	AUX
fsr-3259	338	5	in	in	ADP
fsr-3259	338	6	parentheses	parenthesis	NOUN
fsr-3259	338	7	.	.	PUNCT
fsr-3259	339	1	*	*	PUNCT
fsr-3259	339	2	p	p	X
fsr-3259	339	3	�	�	PROPN
fsr-3259	339	4	0.05	0.05	NUM
fsr-3259	339	5	,	,	PUNCT
fsr-3259	339	6	*	*	PUNCT
fsr-3259	339	7	*	*	PUNCT
fsr-3259	339	8	p	p	X
fsr-3259	339	9	�	�	PROPN
fsr-3259	339	10	0.01	0.01	NUM
fsr-3259	339	11	.	.	PUNCT
fsr-3259	339	12	47y	47y	PROPN
fsr-3259	339	13	.	.	PUNCT
fsr-3259	340	1	park	park	NOUN
fsr-3259	340	2	/	/	SYM
fsr-3259	340	3	financial	financial	ADJ
fsr-3259	340	4	services	service	NOUN
fsr-3259	340	5	review	review	VERB
fsr-3259	340	6	25	25	NUM
fsr-3259	340	7	(	(	PUNCT
fsr-3259	340	8	2016	2016	NUM
fsr-3259	340	9	)	)	PUNCT
fsr-3259	340	10	29–49	29–49	NUM
fsr-3259	340	11	acknowledgments	acknowledgment	NOUN
fsr-3259	340	12	the	the	DET
fsr-3259	340	13	author	author	NOUN
fsr-3259	340	14	is	be	AUX
fsr-3259	340	15	grateful	grateful	ADJ
fsr-3259	340	16	to	to	ADP
fsr-3259	340	17	sojung	sojung	PROPN
fsr-3259	340	18	park	park	PROPN
fsr-3259	340	19	and	and	CCONJ
fsr-3259	340	20	jesse	jesse	PROPN
fsr-3259	340	21	thomas	thomas	PROPN
fsr-3259	340	22	and	and	CCONJ
fsr-3259	340	23	would	would	AUX
fsr-3259	340	24	like	like	VERB
fsr-3259	340	25	to	to	PART
fsr-3259	340	26	thank	thank	VERB
fsr-3259	340	27	the	the	DET
fsr-3259	340	28	editor	editor	NOUN
fsr-3259	340	29	and	and	CCONJ
fsr-3259	340	30	anonymous	anonymous	ADJ
fsr-3259	340	31	referees	referee	NOUN
fsr-3259	340	32	for	for	ADP
fsr-3259	340	33	constructive	constructive	ADJ
fsr-3259	340	34	comments	comment	NOUN
fsr-3259	340	35	.	.	PUNCT
fsr-3259	341	1	references	reference	NOUN
fsr-3259	341	2	agarwal	agarwal	PROPN
fsr-3259	341	3	,	,	PUNCT
fsr-3259	341	4	v.	v.	PROPN
fsr-3259	341	5	,	,	PUNCT
fsr-3259	341	6	ma	ma	PROPN
fsr-3259	341	7	,	,	PUNCT
fsr-3259	341	8	l.	l.	PROPN
fsr-3259	341	9	,	,	PUNCT
fsr-3259	341	10	&	&	CCONJ
fsr-3259	341	11	mullally	mullally	PROPN
fsr-3259	341	12	,	,	PUNCT
fsr-3259	341	13	k.	k.	PROPN
fsr-3259	341	14	(	(	PUNCT
fsr-3259	341	15	2015	2015	NUM
fsr-3259	341	16	)	)	PUNCT
fsr-3259	341	17	.	.	PUNCT
fsr-3259	342	1	managerial	managerial	ADJ
fsr-3259	342	2	multitasking	multitaske	VERB
fsr-3259	342	3	in	in	ADP
fsr-3259	342	4	the	the	DET
fsr-3259	342	5	mutual	mutual	ADJ
fsr-3259	342	6	fund	fund	NOUN
fsr-3259	342	7	industry	industry	NOUN
fsr-3259	342	8	.	.	PUNCT
fsr-3259	343	1	working	work	VERB
fsr-3259	343	2	paper	paper	NOUN
fsr-3259	343	3	(	(	PUNCT
fsr-3259	343	4	available	available	ADJ
fsr-3259	343	5	at	at	ADP
fsr-3259	343	6	http://ssrn.com/abstract�1741282	http://ssrn.com/abstract�1741282	PROPN
fsr-3259	343	7	)	)	PUNCT
fsr-3259	343	8	.	.	PUNCT
fsr-3259	344	1	berk	berk	PROPN
fsr-3259	344	2	,	,	PUNCT
fsr-3259	344	3	j.	j.	PROPN
fsr-3259	344	4	b.	b.	PROPN
fsr-3259	344	5	,	,	PUNCT
fsr-3259	344	6	&	&	CCONJ
fsr-3259	344	7	van	van	PROPN
fsr-3259	344	8	binsbergen	binsbergen	PROPN
fsr-3259	344	9	,	,	PUNCT
fsr-3259	344	10	j.	j.	PROPN
fsr-3259	344	11	h.	h.	PROPN
fsr-3259	344	12	(	(	PUNCT
fsr-3259	344	13	2015	2015	NUM
fsr-3259	344	14	)	)	PUNCT
fsr-3259	344	15	.	.	PUNCT
fsr-3259	345	1	measuring	measure	VERB
fsr-3259	345	2	skill	skill	NOUN
fsr-3259	345	3	in	in	ADP
fsr-3259	345	4	the	the	DET
fsr-3259	345	5	mutual	mutual	ADJ
fsr-3259	345	6	fund	fund	NOUN
fsr-3259	345	7	industry	industry	NOUN
fsr-3259	345	8	.	.	PUNCT
fsr-3259	346	1	journal	journal	PROPN
fsr-3259	346	2	of	of	ADP
fsr-3259	346	3	financial	financial	ADJ
fsr-3259	346	4	economics	economic	NOUN
fsr-3259	346	5	,	,	PUNCT
fsr-3259	346	6	118	118	NUM
fsr-3259	346	7	,	,	PUNCT
fsr-3259	346	8	1–20	1–20	PROPN
fsr-3259	346	9	.	.	PUNCT
fsr-3259	347	1	http://dx.doi.org/10.1016/j.jfineco.2015.05.002	http://dx.doi.org/10.1016/j.jfineco.2015.05.002	PROPN
fsr-3259	347	2	.	.	PUNCT
fsr-3259	348	1	carhart	carhart	NOUN
fsr-3259	348	2	,	,	PUNCT
fsr-3259	348	3	m.	m.	NOUN
fsr-3259	348	4	m.	m.	NOUN
fsr-3259	348	5	(	(	PUNCT
fsr-3259	348	6	1997	1997	NUM
fsr-3259	348	7	)	)	PUNCT
fsr-3259	348	8	.	.	PUNCT
fsr-3259	349	1	on	on	ADP
fsr-3259	349	2	persistence	persistence	NOUN
fsr-3259	349	3	in	in	ADP
fsr-3259	349	4	mutual	mutual	ADJ
fsr-3259	349	5	fund	fund	NOUN
fsr-3259	349	6	performance	performance	NOUN
fsr-3259	349	7	.	.	PUNCT
fsr-3259	350	1	journal	journal	PROPN
fsr-3259	350	2	of	of	ADP
fsr-3259	350	3	finance	finance	NOUN
fsr-3259	350	4	,	,	PUNCT
fsr-3259	350	5	52	52	NUM
fsr-3259	350	6	,	,	PUNCT
fsr-3259	350	7	57–82	57–82	NUM
fsr-3259	350	8	.	.	PUNCT
fsr-3259	351	1	choi	choi	PROPN
fsr-3259	351	2	,	,	PUNCT
fsr-3259	351	3	d.	d.	PROPN
fsr-3259	351	4	,	,	PUNCT
fsr-3259	351	5	kahraman	kahraman	NOUN
fsr-3259	351	6	,	,	PUNCT
fsr-3259	351	7	c.	c.	PROPN
fsr-3259	351	8	b.	b.	PROPN
fsr-3259	351	9	,	,	PUNCT
fsr-3259	351	10	&	&	CCONJ
fsr-3259	351	11	mukherjee	mukherjee	PROPN
fsr-3259	351	12	,	,	PUNCT
fsr-3259	351	13	a.	a.	NOUN
fsr-3259	351	14	(	(	PUNCT
fsr-3259	351	15	2013	2013	NUM
fsr-3259	351	16	)	)	PUNCT
fsr-3259	351	17	.	.	PUNCT
fsr-3259	352	1	performance	performance	NOUN
fsr-3259	352	2	-	-	PUNCT
fsr-3259	352	3	chasing	chase	VERB
fsr-3259	352	4	behavior	behavior	NOUN
fsr-3259	352	5	and	and	CCONJ
fsr-3259	352	6	mutual	mutual	ADJ
fsr-3259	352	7	funds	fund	NOUN
fsr-3259	352	8	:	:	PUNCT
fsr-3259	352	9	new	new	ADJ
fsr-3259	352	10	evidence	evidence	NOUN
fsr-3259	352	11	from	from	ADP
fsr-3259	352	12	multi	multi	ADJ
fsr-3259	352	13	-	-	ADJ
fsr-3259	352	14	fund	fund	NOUN
fsr-3259	352	15	managers	manager	NOUN
fsr-3259	352	16	.	.	PUNCT
fsr-3259	353	1	working	work	VERB
fsr-3259	353	2	paper	paper	NOUN
fsr-3259	353	3	(	(	PUNCT
fsr-3259	353	4	available	available	ADJ
fsr-3259	353	5	at	at	ADP
fsr-3259	353	6	http://ssrn.com/abstract�2219846	http://ssrn.com/abstract�2219846	NOUN
fsr-3259	353	7	)	)	PUNCT
fsr-3259	353	8	.	.	PUNCT
fsr-3259	354	1	ciccotello	ciccotello	PROPN
fsr-3259	354	2	,	,	PUNCT
fsr-3259	354	3	c.	c.	PROPN
fsr-3259	354	4	s.	s.	PROPN
fsr-3259	354	5	,	,	PUNCT
fsr-3259	354	6	miles	miles	PROPN
fsr-3259	354	7	,	,	PUNCT
fsr-3259	354	8	j.	j.	PROPN
fsr-3259	354	9	a.	a.	PROPN
fsr-3259	354	10	,	,	PUNCT
fsr-3259	354	11	&	&	CCONJ
fsr-3259	354	12	walsh	walsh	PROPN
fsr-3259	354	13	,	,	PUNCT
fsr-3259	354	14	l.	l.	PROPN
fsr-3259	354	15	s.	s.	PROPN
fsr-3259	354	16	(	(	PUNCT
fsr-3259	354	17	2006	2006	NUM
fsr-3259	354	18	)	)	PUNCT
fsr-3259	354	19	.	.	PUNCT
fsr-3259	355	1	should	should	AUX
fsr-3259	355	2	investors	investor	NOUN
fsr-3259	355	3	choose	choose	VERB
fsr-3259	355	4	funds	fund	NOUN
fsr-3259	355	5	from	from	ADP
fsr-3259	355	6	focused	focused	ADJ
fsr-3259	355	7	families	family	NOUN
fsr-3259	355	8	?	?	PUNCT
fsr-3259	356	1	financial	financial	ADJ
fsr-3259	356	2	services	service	NOUN
fsr-3259	356	3	review	review	NOUN
fsr-3259	356	4	,	,	PUNCT
fsr-3259	356	5	15	15	NUM
fsr-3259	356	6	,	,	PUNCT
fsr-3259	356	7	247–264	247–264	NUM
fsr-3259	356	8	.	.	PUNCT
fsr-3259	357	1	ciccotello	ciccotello	PROPN
fsr-3259	357	2	,	,	PUNCT
fsr-3259	357	3	c.	c.	PROPN
fsr-3259	357	4	s.	s.	PROPN
fsr-3259	357	5	,	,	PUNCT
fsr-3259	357	6	greene	greene	PROPN
fsr-3259	357	7	,	,	PUNCT
fsr-3259	357	8	j.	j.	PROPN
fsr-3259	357	9	t.	t.	PROPN
fsr-3259	357	10	,	,	PUNCT
fsr-3259	357	11	&	&	CCONJ
fsr-3259	357	12	walsh	walsh	PROPN
fsr-3259	357	13	,	,	PUNCT
fsr-3259	357	14	l.	l.	PROPN
fsr-3259	357	15	s.	s.	PROPN
fsr-3259	357	16	(	(	PUNCT
fsr-3259	357	17	2007	2007	NUM
fsr-3259	357	18	)	)	PUNCT
fsr-3259	357	19	.	.	PUNCT
fsr-3259	358	1	supermarket	supermarket	NOUN
fsr-3259	358	2	distribution	distribution	NOUN
fsr-3259	358	3	and	and	CCONJ
fsr-3259	358	4	brand	brand	NOUN
fsr-3259	358	5	recognition	recognition	NOUN
fsr-3259	358	6	of	of	ADP
fsr-3259	358	7	open	open	ADJ
fsr-3259	358	8	-	-	PUNCT
fsr-3259	358	9	end	end	NOUN
fsr-3259	358	10	mutual	mutual	ADJ
fsr-3259	358	11	funds	fund	NOUN
fsr-3259	358	12	.	.	PUNCT
fsr-3259	359	1	financial	financial	ADJ
fsr-3259	359	2	services	service	NOUN
fsr-3259	359	3	review	review	PROPN
fsr-3259	359	4	,	,	PUNCT
fsr-3259	359	5	16	16	NUM
fsr-3259	359	6	,	,	PUNCT
fsr-3259	359	7	309–326	309–326	NUM
fsr-3259	359	8	.	.	PUNCT
fsr-3259	360	1	clare	clare	PROPN
fsr-3259	360	2	,	,	PUNCT
fsr-3259	360	3	a.	a.	NOUN
fsr-3259	360	4	,	,	PUNCT
fsr-3259	360	5	o’sullivan	o’sullivan	PROPN
fsr-3259	360	6	,	,	PUNCT
fsr-3259	360	7	n.	n.	NOUN
fsr-3259	360	8	,	,	PUNCT
fsr-3259	360	9	&	&	CCONJ
fsr-3259	360	10	sherman	sherman	PROPN
fsr-3259	360	11	,	,	PUNCT
fsr-3259	360	12	m.	m.	NOUN
fsr-3259	360	13	(	(	PUNCT
fsr-3259	360	14	2014	2014	NUM
fsr-3259	360	15	)	)	PUNCT
fsr-3259	360	16	.	.	PUNCT
fsr-3259	361	1	family	family	NOUN
fsr-3259	361	2	status	status	NOUN
fsr-3259	361	3	and	and	CCONJ
fsr-3259	361	4	mutual	mutual	ADJ
fsr-3259	361	5	fund	fund	NOUN
fsr-3259	361	6	performance	performance	NOUN
fsr-3259	361	7	.	.	PUNCT
fsr-3259	362	1	j	j	PROPN
fsr-3259	362	2	of	of	ADP
fsr-3259	362	3	asset	asset	NOUN
fsr-3259	362	4	management	management	NOUN
fsr-3259	362	5	,	,	PUNCT
fsr-3259	362	6	15	15	NUM
fsr-3259	362	7	,	,	PUNCT
fsr-3259	362	8	163–175	163–175	NUM
fsr-3259	362	9	.	.	PUNCT
fsr-3259	363	1	collins	collins	PROPN
fsr-3259	363	2	,	,	PUNCT
fsr-3259	363	3	s.	s.	PROPN
fsr-3259	363	4	(	(	PUNCT
fsr-3259	363	5	2003	2003	NUM
fsr-3259	363	6	)	)	PUNCT
fsr-3259	363	7	.	.	PUNCT
fsr-3259	364	1	the	the	DET
fsr-3259	364	2	expenses	expense	NOUN
fsr-3259	364	3	of	of	ADP
fsr-3259	364	4	defined	define	VERB
fsr-3259	364	5	benefit	benefit	NOUN
fsr-3259	364	6	pension	pension	NOUN
fsr-3259	364	7	plans	plan	NOUN
fsr-3259	364	8	and	and	CCONJ
fsr-3259	364	9	mutual	mutual	ADJ
fsr-3259	364	10	funds	fund	NOUN
fsr-3259	364	11	fees	fee	NOUN
fsr-3259	364	12	.	.	PUNCT
fsr-3259	365	1	investment	investment	NOUN
fsr-3259	365	2	company	company	PROPN
fsr-3259	365	3	institute	institute	PROPN
fsr-3259	365	4	perspective	perspective	NOUN
fsr-3259	365	5	,	,	PUNCT
fsr-3259	365	6	9	9	NUM
fsr-3259	365	7	.	.	X
fsr-3259	365	8	collins	collins	PROPN
fsr-3259	365	9	,	,	PUNCT
fsr-3259	365	10	s.	s.	PROPN
fsr-3259	365	11	(	(	PUNCT
fsr-3259	365	12	2007	2007	NUM
fsr-3259	365	13	)	)	PUNCT
fsr-3259	365	14	.	.	PUNCT
fsr-3259	366	1	fees	fee	NOUN
fsr-3259	366	2	and	and	CCONJ
fsr-3259	366	3	expenses	expense	NOUN
fsr-3259	366	4	of	of	ADP
fsr-3259	366	5	mutual	mutual	ADJ
fsr-3259	366	6	funds	fund	NOUN
fsr-3259	366	7	2006	2006	NUM
fsr-3259	366	8	,	,	PUNCT
fsr-3259	366	9	investment	investment	NOUN
fsr-3259	366	10	company	company	NOUN
fsr-3259	366	11	institute	institute	NOUN
fsr-3259	366	12	research	research	NOUN
fsr-3259	366	13	fundamentals	fundamental	NOUN
fsr-3259	366	14	,	,	PUNCT
fsr-3259	366	15	16	16	NUM
fsr-3259	366	16	.	.	PUNCT
fsr-3259	367	1	dowen	dowen	PROPN
fsr-3259	367	2	,	,	PUNCT
fsr-3259	367	3	r.	r.	PROPN
fsr-3259	367	4	j.	j.	PROPN
fsr-3259	367	5	,	,	PUNCT
fsr-3259	367	6	&	&	CCONJ
fsr-3259	367	7	mann	mann	PROPN
fsr-3259	367	8	,	,	PUNCT
fsr-3259	367	9	t.	t.	PROPN
fsr-3259	367	10	(	(	PUNCT
fsr-3259	367	11	2004	2004	NUM
fsr-3259	367	12	)	)	PUNCT
fsr-3259	367	13	.	.	PUNCT
fsr-3259	368	1	mutual	mutual	ADJ
fsr-3259	368	2	fund	fund	NOUN
fsr-3259	368	3	performance	performance	NOUN
fsr-3259	368	4	,	,	PUNCT
fsr-3259	368	5	management	management	NOUN
fsr-3259	368	6	behavior	behavior	NOUN
fsr-3259	368	7	,	,	PUNCT
fsr-3259	368	8	and	and	CCONJ
fsr-3259	368	9	investor	investor	NOUN
fsr-3259	368	10	costs	cost	NOUN
fsr-3259	368	11	.	.	PUNCT
fsr-3259	369	1	financial	financial	ADJ
fsr-3259	369	2	services	service	NOUN
fsr-3259	369	3	review	review	PROPN
fsr-3259	369	4	,	,	PUNCT
fsr-3259	369	5	13	13	NUM
fsr-3259	369	6	,	,	PUNCT
fsr-3259	369	7	79–91	79–91	NUM
fsr-3259	369	8	.	.	PUNCT
fsr-3259	370	1	elton	elton	PROPN
fsr-3259	370	2	,	,	PUNCT
fsr-3259	370	3	e.	e.	PROPN
fsr-3259	370	4	,	,	PUNCT
fsr-3259	370	5	gruber	gruber	PROPN
fsr-3259	370	6	,	,	PUNCT
fsr-3259	370	7	m.	m.	NOUN
fsr-3259	370	8	j.	j.	PROPN
fsr-3259	370	9	,	,	PUNCT
fsr-3259	370	10	&	&	CCONJ
fsr-3259	370	11	green	green	NOUN
fsr-3259	370	12	,	,	PUNCT
fsr-3259	370	13	t.	t.	PROPN
fsr-3259	370	14	c.	c.	PROPN
fsr-3259	370	15	(	(	PUNCT
fsr-3259	370	16	2007	2007	NUM
fsr-3259	370	17	)	)	PUNCT
fsr-3259	370	18	.	.	PUNCT
fsr-3259	371	1	the	the	DET
fsr-3259	371	2	impact	impact	NOUN
fsr-3259	371	3	of	of	ADP
fsr-3259	371	4	mutual	mutual	ADJ
fsr-3259	371	5	fund	fund	NOUN
fsr-3259	371	6	family	family	NOUN
fsr-3259	371	7	membership	membership	NOUN
fsr-3259	371	8	on	on	ADP
fsr-3259	371	9	investor	investor	NOUN
fsr-3259	371	10	risk	risk	NOUN
fsr-3259	371	11	.	.	PUNCT
fsr-3259	372	1	journal	journal	NOUN
fsr-3259	372	2	of	of	ADP
fsr-3259	372	3	financial	financial	ADJ
fsr-3259	372	4	and	and	CCONJ
fsr-3259	372	5	quantitative	quantitative	ADJ
fsr-3259	372	6	analysis	analysis	NOUN
fsr-3259	372	7	,	,	PUNCT
fsr-3259	372	8	42	42	NUM
fsr-3259	372	9	,	,	PUNCT
fsr-3259	372	10	257–278	257–278	NUM
fsr-3259	372	11	.	.	PUNCT
fsr-3259	373	1	elton	elton	PROPN
fsr-3259	373	2	,	,	PUNCT
fsr-3259	373	3	e.	e.	PROPN
fsr-3259	373	4	j.	j.	PROPN
fsr-3259	373	5	,	,	PUNCT
fsr-3259	373	6	gruber	gruber	PROPN
fsr-3259	373	7	,	,	PUNCT
fsr-3259	373	8	m.	m.	NOUN
fsr-3259	373	9	j.	j.	PROPN
fsr-3259	373	10	,	,	PUNCT
fsr-3259	373	11	blake	blake	PROPN
fsr-3259	373	12	,	,	PUNCT
fsr-3259	373	13	c.	c.	PROPN
fsr-3259	373	14	r.	r.	PROPN
fsr-3259	373	15	,	,	PUNCT
fsr-3259	373	16	krasny	krasny	PROPN
fsr-3259	373	17	,	,	PUNCT
fsr-3259	373	18	y.	y.	PROPN
fsr-3259	373	19	,	,	PUNCT
fsr-3259	373	20	&	&	CCONJ
fsr-3259	373	21	ozelge	ozelge	PROPN
fsr-3259	373	22	,	,	PUNCT
fsr-3259	373	23	s.	s.	PROPN
fsr-3259	373	24	o.	o.	PROPN
fsr-3259	373	25	(	(	PUNCT
fsr-3259	373	26	2010	2010	NUM
fsr-3259	373	27	)	)	PUNCT
fsr-3259	373	28	.	.	PUNCT
fsr-3259	374	1	the	the	DET
fsr-3259	374	2	effect	effect	NOUN
fsr-3259	374	3	of	of	ADP
fsr-3259	374	4	holdings	holding	NOUN
fsr-3259	374	5	data	datum	NOUN
fsr-3259	374	6	frequency	frequency	NOUN
fsr-3259	374	7	on	on	ADP
fsr-3259	374	8	conclusions	conclusion	NOUN
fsr-3259	374	9	about	about	ADP
fsr-3259	374	10	mutual	mutual	ADJ
fsr-3259	374	11	fund	fund	NOUN
fsr-3259	374	12	behavior	behavior	NOUN
fsr-3259	374	13	.	.	PUNCT
fsr-3259	375	1	journal	journal	PROPN
fsr-3259	375	2	of	of	ADP
fsr-3259	375	3	banking	banking	NOUN
fsr-3259	375	4	&	&	CCONJ
fsr-3259	375	5	finance	finance	PROPN
fsr-3259	375	6	,	,	PUNCT
fsr-3259	375	7	34	34	NUM
fsr-3259	375	8	,	,	PUNCT
fsr-3259	375	9	912–922	912–922	NUM
fsr-3259	375	10	.	.	PUNCT
fsr-3259	376	1	elton	elton	PROPN
fsr-3259	376	2	,	,	PUNCT
fsr-3259	376	3	e.	e.	PROPN
fsr-3259	376	4	j.	j.	PROPN
fsr-3259	376	5	,	,	PUNCT
fsr-3259	376	6	gruber	gruber	PROPN
fsr-3259	376	7	,	,	PUNCT
fsr-3259	376	8	m.	m.	NOUN
fsr-3259	376	9	j.	j.	PROPN
fsr-3259	376	10	,	,	PUNCT
fsr-3259	376	11	&	&	CCONJ
fsr-3259	376	12	blake	blake	PROPN
fsr-3259	376	13	,	,	PUNCT
fsr-3259	376	14	c.	c.	PROPN
fsr-3259	376	15	r.	r.	PROPN
fsr-3259	376	16	(	(	PUNCT
fsr-3259	376	17	2012	2012	NUM
fsr-3259	376	18	)	)	PUNCT
fsr-3259	376	19	.	.	PUNCT
fsr-3259	377	1	does	do	VERB
fsr-3259	377	2	mutual	mutual	ADJ
fsr-3259	377	3	fund	fund	NOUN
fsr-3259	377	4	size	size	NOUN
fsr-3259	377	5	matter	matter	NOUN
fsr-3259	377	6	?	?	PUNCT
fsr-3259	378	1	the	the	DET
fsr-3259	378	2	relationship	relationship	NOUN
fsr-3259	378	3	between	between	ADP
fsr-3259	378	4	size	size	NOUN
fsr-3259	378	5	and	and	CCONJ
fsr-3259	378	6	performance	performance	NOUN
fsr-3259	378	7	.	.	PUNCT
fsr-3259	379	1	review	review	NOUN
fsr-3259	379	2	of	of	ADP
fsr-3259	379	3	asset	asset	NOUN
fsr-3259	379	4	pricing	pricing	NOUN
fsr-3259	379	5	studies	study	NOUN
fsr-3259	379	6	,	,	PUNCT
fsr-3259	379	7	2	2	NUM
fsr-3259	379	8	,	,	PUNCT
fsr-3259	379	9	31–55	31–55	NUM
fsr-3259	379	10	.	.	PUNCT
fsr-3259	380	1	gaspar	gaspar	PROPN
fsr-3259	380	2	,	,	PUNCT
fsr-3259	380	3	j.-m	j.-m	PROPN
fsr-3259	380	4	.	.	PUNCT
fsr-3259	380	5	,	,	PUNCT
fsr-3259	380	6	massa	massa	PROPN
fsr-3259	380	7	,	,	PUNCT
fsr-3259	380	8	m.	m.	NOUN
fsr-3259	380	9	,	,	PUNCT
fsr-3259	380	10	&	&	CCONJ
fsr-3259	380	11	matos	matos	PROPN
fsr-3259	380	12	,	,	PUNCT
fsr-3259	380	13	p.	p.	NOUN
fsr-3259	380	14	(	(	PUNCT
fsr-3259	380	15	2006	2006	NUM
fsr-3259	380	16	)	)	PUNCT
fsr-3259	380	17	.	.	PUNCT
fsr-3259	381	1	favoritism	favoritism	NOUN
fsr-3259	381	2	in	in	ADP
fsr-3259	381	3	mutual	mutual	ADJ
fsr-3259	381	4	fund	fund	NOUN
fsr-3259	381	5	families	family	NOUN
fsr-3259	381	6	?	?	PUNCT
fsr-3259	382	1	evidence	evidence	NOUN
fsr-3259	382	2	on	on	ADP
fsr-3259	382	3	strategic	strategic	ADJ
fsr-3259	382	4	cross	cross	ADJ
fsr-3259	382	5	-	-	ADJ
fsr-3259	382	6	fund	fund	ADJ
fsr-3259	382	7	subsidization	subsidization	NOUN
fsr-3259	382	8	.	.	PUNCT
fsr-3259	383	1	journal	journal	PROPN
fsr-3259	383	2	of	of	ADP
fsr-3259	383	3	finance	finance	NOUN
fsr-3259	383	4	,	,	PUNCT
fsr-3259	383	5	61	61	NUM
fsr-3259	383	6	,	,	PUNCT
fsr-3259	383	7	73–104	73–104	PROPN
fsr-3259	383	8	.	.	PUNCT
fsr-3259	384	1	gil	gil	PROPN
fsr-3259	384	2	-	-	PUNCT
fsr-3259	384	3	bazo	bazo	PROPN
fsr-3259	384	4	,	,	PUNCT
fsr-3259	384	5	j.	j.	PROPN
fsr-3259	384	6	,	,	PUNCT
fsr-3259	384	7	&	&	CCONJ
fsr-3259	384	8	ruiz	ruiz	NOUN
fsr-3259	384	9	-	-	PUNCT
fsr-3259	384	10	verdu	verdu	NOUN
fsr-3259	384	11	,	,	PUNCT
fsr-3259	384	12	p.	p.	NOUN
fsr-3259	384	13	(	(	PUNCT
fsr-3259	384	14	2009	2009	NUM
fsr-3259	384	15	)	)	PUNCT
fsr-3259	384	16	.	.	PUNCT
fsr-3259	385	1	the	the	DET
fsr-3259	385	2	relation	relation	NOUN
fsr-3259	385	3	between	between	ADP
fsr-3259	385	4	price	price	NOUN
fsr-3259	385	5	and	and	CCONJ
fsr-3259	385	6	performance	performance	NOUN
fsr-3259	385	7	in	in	ADP
fsr-3259	385	8	the	the	DET
fsr-3259	385	9	mutual	mutual	ADJ
fsr-3259	385	10	fund	fund	NOUN
fsr-3259	385	11	industry	industry	NOUN
fsr-3259	385	12	.	.	PUNCT
fsr-3259	386	1	journal	journal	PROPN
fsr-3259	386	2	of	of	ADP
fsr-3259	386	3	finance	finance	NOUN
fsr-3259	386	4	,	,	PUNCT
fsr-3259	386	5	64	64	NUM
fsr-3259	386	6	,	,	PUNCT
fsr-3259	386	7	2153–2183	2153–2183	NUM
fsr-3259	386	8	.	.	PUNCT
fsr-3259	387	1	gerken	gerken	VERB
fsr-3259	387	2	,	,	PUNCT
fsr-3259	387	3	w.	w.	PROPN
fsr-3259	387	4	c.	c.	PROPN
fsr-3259	387	5	,	,	PUNCT
fsr-3259	387	6	starks	stark	NOUN
fsr-3259	387	7	,	,	PUNCT
fsr-3259	387	8	l.	l.	PROPN
fsr-3259	387	9	t.	t.	PROPN
fsr-3259	387	10	,	,	PUNCT
fsr-3259	387	11	&	&	CCONJ
fsr-3259	387	12	yates	yates	PROPN
fsr-3259	387	13	,	,	PUNCT
fsr-3259	387	14	m.	m.	PROPN
fsr-3259	387	15	c.	c.	PROPN
fsr-3259	387	16	(	(	PUNCT
fsr-3259	387	17	2014	2014	NUM
fsr-3259	387	18	)	)	PUNCT
fsr-3259	387	19	.	.	PUNCT
fsr-3259	388	1	the	the	DET
fsr-3259	388	2	importance	importance	NOUN
fsr-3259	388	3	of	of	ADP
fsr-3259	388	4	family	family	NOUN
fsr-3259	388	5	:	:	PUNCT
fsr-3259	388	6	the	the	DET
fsr-3259	388	7	role	role	NOUN
fsr-3259	388	8	of	of	ADP
fsr-3259	388	9	mutual	mutual	ADJ
fsr-3259	388	10	fund	fund	NOUN
fsr-3259	388	11	family	family	NOUN
fsr-3259	388	12	reputation	reputation	NOUN
fsr-3259	388	13	in	in	ADP
fsr-3259	388	14	investment	investment	NOUN
fsr-3259	388	15	decisions	decision	NOUN
fsr-3259	388	16	.	.	PUNCT
fsr-3259	389	1	working	work	VERB
fsr-3259	389	2	paper	paper	NOUN
fsr-3259	389	3	(	(	PUNCT
fsr-3259	389	4	available	available	ADJ
fsr-3259	389	5	at	at	ADP
fsr-3259	389	6	ssrn	ssrn	PROPN
fsr-3259	389	7	:	:	PUNCT
fsr-3259	389	8	http://ssrn.com/abstract�2022503	http://ssrn.com/abstract�2022503	ADJ
fsr-3259	389	9	)	)	PUNCT
fsr-3259	389	10	.	.	PUNCT
fsr-3259	390	1	hair	hair	NOUN
fsr-3259	390	2	,	,	PUNCT
fsr-3259	390	3	j.	j.	PROPN
fsr-3259	390	4	f.	f.	PROPN
fsr-3259	390	5	,	,	PUNCT
fsr-3259	390	6	jr	jr	PROPN
fsr-3259	390	7	.	.	PROPN
fsr-3259	390	8	,	,	PUNCT
fsr-3259	390	9	anderson	anderson	PROPN
fsr-3259	390	10	,	,	PUNCT
fsr-3259	390	11	r.	r.	PROPN
fsr-3259	390	12	e.	e.	PROPN
fsr-3259	390	13	,	,	PUNCT
fsr-3259	390	14	tatham	tatham	PROPN
fsr-3259	390	15	,	,	PUNCT
fsr-3259	390	16	r.	r.	PROPN
fsr-3259	390	17	l.	l.	PROPN
fsr-3259	390	18	,	,	PUNCT
fsr-3259	390	19	&	&	CCONJ
fsr-3259	390	20	black	black	PROPN
fsr-3259	390	21	,	,	PUNCT
fsr-3259	390	22	w.	w.	PROPN
fsr-3259	390	23	c.	c.	PROPN
fsr-3259	390	24	(	(	PUNCT
fsr-3259	390	25	1995	1995	NUM
fsr-3259	390	26	)	)	PUNCT
fsr-3259	390	27	.	.	PUNCT
fsr-3259	391	1	multivariate	multivariate	NOUN
fsr-3259	391	2	data	datum	NOUN
fsr-3259	391	3	analysis	analysis	NOUN
fsr-3259	391	4	(	(	PUNCT
fsr-3259	391	5	3rd	3rd	ADJ
fsr-3259	391	6	ed	ed	NOUN
fsr-3259	391	7	.	.	PUNCT
fsr-3259	391	8	)	)	PUNCT
fsr-3259	391	9	.	.	PUNCT
fsr-3259	392	1	new	new	PROPN
fsr-3259	392	2	york	york	PROPN
fsr-3259	392	3	,	,	PUNCT
fsr-3259	392	4	ny	ny	PROPN
fsr-3259	392	5	:	:	PUNCT
fsr-3259	392	6	macmillan	macmillan	PROPN
fsr-3259	392	7	.	.	PUNCT
fsr-3259	392	8	haslem	haslem	PROPN
fsr-3259	392	9	,	,	PUNCT
fsr-3259	392	10	j.	j.	PROPN
fsr-3259	392	11	a.	a.	PROPN
fsr-3259	392	12	,	,	PUNCT
fsr-3259	392	13	baker	baker	PROPN
fsr-3259	392	14	,	,	PUNCT
fsr-3259	392	15	h.	h.	PROPN
fsr-3259	392	16	k.	k.	PROPN
fsr-3259	392	17	,	,	PUNCT
fsr-3259	392	18	&	&	CCONJ
fsr-3259	392	19	smith	smith	PROPN
fsr-3259	392	20	,	,	PUNCT
fsr-3259	392	21	d.	d.	PROPN
fsr-3259	392	22	m.	m.	PROPN
fsr-3259	392	23	(	(	PUNCT
fsr-3259	392	24	2008	2008	NUM
fsr-3259	392	25	)	)	PUNCT
fsr-3259	392	26	.	.	PUNCT
fsr-3259	393	1	performance	performance	NOUN
fsr-3259	393	2	and	and	CCONJ
fsr-3259	393	3	characteristics	characteristic	NOUN
fsr-3259	393	4	of	of	ADP
fsr-3259	393	5	actively	actively	ADV
fsr-3259	393	6	managed	manage	VERB
fsr-3259	393	7	retail	retail	ADJ
fsr-3259	393	8	equity	equity	NOUN
fsr-3259	393	9	mutual	mutual	ADJ
fsr-3259	393	10	funds	fund	NOUN
fsr-3259	393	11	with	with	ADP
fsr-3259	393	12	diverse	diverse	ADJ
fsr-3259	393	13	expense	expense	NOUN
fsr-3259	393	14	ratios	ratio	NOUN
fsr-3259	393	15	.	.	PUNCT
fsr-3259	394	1	financial	financial	ADJ
fsr-3259	394	2	services	service	NOUN
fsr-3259	394	3	review	review	PROPN
fsr-3259	394	4	,	,	PUNCT
fsr-3259	394	5	17	17	NUM
fsr-3259	394	6	,	,	PUNCT
fsr-3259	394	7	49–68	49–68	NUM
fsr-3259	394	8	.	.	PUNCT
fsr-3259	394	9	investment	investment	NOUN
fsr-3259	394	10	company	company	PROPN
fsr-3259	394	11	institute	institute	NOUN
fsr-3259	394	12	.	.	PUNCT
fsr-3259	395	1	(	(	PUNCT
fsr-3259	395	2	2015	2015	NUM
fsr-3259	395	3	)	)	PUNCT
fsr-3259	395	4	.	.	PUNCT
fsr-3259	396	1	2015	2015	NUM
fsr-3259	396	2	investment	investment	NOUN
fsr-3259	396	3	company	company	NOUN
fsr-3259	396	4	fact	fact	NOUN
fsr-3259	396	5	book	book	NOUN
fsr-3259	396	6	(	(	PUNCT
fsr-3259	396	7	55th	55th	ADJ
fsr-3259	396	8	edition	edition	NOUN
fsr-3259	396	9	)	)	PUNCT
fsr-3259	396	10	.	.	PUNCT
fsr-3259	397	1	washington	washington	PROPN
fsr-3259	397	2	,	,	PUNCT
fsr-3259	397	3	dc	dc	PROPN
fsr-3259	397	4	.	.	PROPN
fsr-3259	397	5	kennedy	kennedy	PROPN
fsr-3259	397	6	,	,	PUNCT
fsr-3259	397	7	p.	p.	PROPN
fsr-3259	397	8	(	(	PUNCT
fsr-3259	397	9	1992	1992	NUM
fsr-3259	397	10	)	)	PUNCT
fsr-3259	397	11	.	.	PUNCT
fsr-3259	398	1	a	a	DET
fsr-3259	398	2	guide	guide	NOUN
fsr-3259	398	3	to	to	ADP
fsr-3259	398	4	econometrics	econometric	NOUN
fsr-3259	398	5	.	.	PUNCT
fsr-3259	399	1	oxford	oxford	NOUN
fsr-3259	399	2	:	:	PUNCT
fsr-3259	400	1	blackwell	blackwell	PROPN
fsr-3259	400	2	.	.	PUNCT
fsr-3259	401	1	khorana	khorana	PROPN
fsr-3259	401	2	,	,	PUNCT
fsr-3259	401	3	a.	a.	PROPN
fsr-3259	401	4	,	,	PUNCT
fsr-3259	401	5	&	&	CCONJ
fsr-3259	401	6	servaes	servaes	PROPN
fsr-3259	401	7	,	,	PUNCT
fsr-3259	401	8	h.	h.	PROPN
fsr-3259	401	9	(	(	PUNCT
fsr-3259	401	10	2007	2007	NUM
fsr-3259	401	11	)	)	PUNCT
fsr-3259	401	12	.	.	PUNCT
fsr-3259	402	1	competition	competition	NOUN
fsr-3259	402	2	and	and	CCONJ
fsr-3259	402	3	conflicts	conflict	NOUN
fsr-3259	402	4	of	of	ADP
fsr-3259	402	5	interest	interest	NOUN
fsr-3259	402	6	in	in	ADP
fsr-3259	402	7	the	the	DET
fsr-3259	402	8	u.s	u.s	PROPN
fsr-3259	402	9	.	.	PROPN
fsr-3259	402	10	mutual	mutual	ADJ
fsr-3259	402	11	fund	fund	NOUN
fsr-3259	402	12	industry	industry	NOUN
fsr-3259	402	13	.	.	PUNCT
fsr-3259	403	1	working	work	VERB
fsr-3259	403	2	paper	paper	NOUN
fsr-3259	403	3	(	(	PUNCT
fsr-3259	403	4	available	available	ADJ
fsr-3259	403	5	at	at	ADP
fsr-3259	403	6	http://faculty.london.edu/hservaes/competition.pdf	http://faculty.london.edu/hservaes/competition.pdf	NOUN
fsr-3259	403	7	)	)	PUNCT
fsr-3259	403	8	.	.	PUNCT
fsr-3259	404	1	latzko	latzko	PROPN
fsr-3259	404	2	,	,	PUNCT
fsr-3259	404	3	d.	d.	PROPN
fsr-3259	404	4	a.	a.	PROPN
fsr-3259	404	5	(	(	PUNCT
fsr-3259	404	6	1999	1999	NUM
fsr-3259	404	7	)	)	PUNCT
fsr-3259	404	8	.	.	PUNCT
fsr-3259	405	1	economies	economy	NOUN
fsr-3259	405	2	of	of	ADP
fsr-3259	405	3	scale	scale	NOUN
fsr-3259	405	4	in	in	ADP
fsr-3259	405	5	mutual	mutual	ADJ
fsr-3259	405	6	fund	fund	NOUN
fsr-3259	405	7	administration	administration	NOUN
fsr-3259	405	8	.	.	PUNCT
fsr-3259	406	1	journal	journal	PROPN
fsr-3259	406	2	of	of	ADP
fsr-3259	406	3	financial	financial	ADJ
fsr-3259	406	4	research	research	NOUN
fsr-3259	406	5	,	,	PUNCT
fsr-3259	406	6	22	22	NUM
fsr-3259	406	7	,	,	PUNCT
fsr-3259	406	8	331–339	331–339	NUM
fsr-3259	406	9	.	.	PUNCT
fsr-3259	406	10	latzko	latzko	PROPN
fsr-3259	406	11	,	,	PUNCT
fsr-3259	406	12	d.	d.	PROPN
fsr-3259	406	13	a.	a.	PROPN
fsr-3259	406	14	(	(	PUNCT
fsr-3259	406	15	2003	2003	NUM
fsr-3259	406	16	)	)	PUNCT
fsr-3259	406	17	.	.	PUNCT
fsr-3259	407	1	mutual	mutual	ADJ
fsr-3259	407	2	fund	fund	NOUN
fsr-3259	407	3	expenses	expense	NOUN
fsr-3259	407	4	:	:	PUNCT
fsr-3259	407	5	an	an	DET
fsr-3259	407	6	econometric	econometric	ADJ
fsr-3259	407	7	investigation	investigation	NOUN
fsr-3259	407	8	.	.	PUNCT
fsr-3259	408	1	working	work	VERB
fsr-3259	408	2	paper	paper	NOUN
fsr-3259	408	3	,	,	PUNCT
fsr-3259	408	4	pennsylvania	pennsylvania	PROPN
fsr-3259	408	5	state	state	PROPN
fsr-3259	408	6	university	university	PROPN
fsr-3259	408	7	,	,	PUNCT
fsr-3259	408	8	york	york	PROPN
fsr-3259	408	9	campus	campus	PROPN
fsr-3259	408	10	.	.	PUNCT
fsr-3259	409	1	48	48	NUM
fsr-3259	409	2	y.	y.	PROPN
fsr-3259	409	3	park	park	PROPN
fsr-3259	409	4	/	/	SYM
fsr-3259	409	5	financial	financial	ADJ
fsr-3259	409	6	services	service	NOUN
fsr-3259	409	7	review	review	VERB
fsr-3259	409	8	25	25	NUM
fsr-3259	409	9	(	(	PUNCT
fsr-3259	409	10	2016	2016	NUM
fsr-3259	409	11	)	)	PUNCT
fsr-3259	409	12	29–49	29–49	NUM
fsr-3259	409	13	mahoney	mahoney	NOUN
fsr-3259	409	14	,	,	PUNCT
fsr-3259	409	15	p.	p.	NOUN
fsr-3259	409	16	g.	g.	PROPN
fsr-3259	409	17	(	(	PUNCT
fsr-3259	409	18	2004	2004	NUM
fsr-3259	409	19	)	)	PUNCT
fsr-3259	409	20	.	.	PUNCT
fsr-3259	410	1	manager	manager	NOUN
fsr-3259	410	2	-	-	PUNCT
fsr-3259	410	3	investor	investor	NOUN
fsr-3259	410	4	conflicts	conflict	NOUN
fsr-3259	410	5	in	in	ADP
fsr-3259	410	6	mutual	mutual	ADJ
fsr-3259	410	7	funds	fund	NOUN
fsr-3259	410	8	.	.	PUNCT
fsr-3259	411	1	journal	journal	NOUN
fsr-3259	411	2	of	of	ADP
fsr-3259	411	3	economic	economic	ADJ
fsr-3259	411	4	perspective	perspective	NOUN
fsr-3259	411	5	,	,	PUNCT
fsr-3259	411	6	18	18	NUM
fsr-3259	411	7	,	,	PUNCT
fsr-3259	411	8	161–182	161–182	NUM
fsr-3259	411	9	.	.	PUNCT
fsr-3259	412	1	malhotra	malhotra	PROPN
fsr-3259	412	2	,	,	PUNCT
fsr-3259	412	3	d.	d.	PROPN
fsr-3259	412	4	k.	k.	PROPN
fsr-3259	412	5	,	,	PUNCT
fsr-3259	412	6	&	&	CCONJ
fsr-3259	412	7	mcleod	mcleod	PROPN
fsr-3259	412	8	,	,	PUNCT
fsr-3259	412	9	r.	r.	PROPN
fsr-3259	412	10	w.	w.	PROPN
fsr-3259	412	11	(	(	PUNCT
fsr-3259	412	12	1997	1997	NUM
fsr-3259	412	13	)	)	PUNCT
fsr-3259	412	14	.	.	PUNCT
fsr-3259	413	1	an	an	DET
fsr-3259	413	2	empirical	empirical	ADJ
fsr-3259	413	3	analysis	analysis	NOUN
fsr-3259	413	4	of	of	ADP
fsr-3259	413	5	mutual	mutual	ADJ
fsr-3259	413	6	fund	fund	NOUN
fsr-3259	413	7	expenses	expense	NOUN
fsr-3259	413	8	.	.	PUNCT
fsr-3259	414	1	journal	journal	NOUN
fsr-3259	414	2	of	of	ADP
fsr-3259	414	3	financial	financial	ADJ
fsr-3259	414	4	research	research	NOUN
fsr-3259	414	5	,	,	PUNCT
fsr-3259	414	6	20	20	NUM
fsr-3259	414	7	,	,	PUNCT
fsr-3259	414	8	175–190	175–190	NUM
fsr-3259	414	9	.	.	PUNCT
fsr-3259	415	1	massa	massa	PROPN
fsr-3259	415	2	,	,	PUNCT
fsr-3259	415	3	m.	m.	NOUN
fsr-3259	415	4	,	,	PUNCT
fsr-3259	415	5	reuter	reuter	PROPN
fsr-3259	415	6	,	,	PUNCT
fsr-3259	415	7	j.	j.	PROPN
fsr-3259	415	8	,	,	PUNCT
fsr-3259	415	9	&	&	CCONJ
fsr-3259	415	10	zitzewitz	zitzewitz	PROPN
fsr-3259	415	11	,	,	PUNCT
fsr-3259	415	12	e.	e.	PROPN
fsr-3259	415	13	(	(	PUNCT
fsr-3259	415	14	2010	2010	NUM
fsr-3259	415	15	)	)	PUNCT
fsr-3259	415	16	.	.	PUNCT
fsr-3259	416	1	when	when	SCONJ
fsr-3259	416	2	should	should	AUX
fsr-3259	416	3	firms	firm	NOUN
fsr-3259	416	4	share	share	VERB
fsr-3259	416	5	credit	credit	NOUN
fsr-3259	416	6	with	with	ADP
fsr-3259	416	7	employees	employee	NOUN
fsr-3259	416	8	?	?	PUNCT
fsr-3259	417	1	evidence	evidence	NOUN
fsr-3259	417	2	from	from	ADP
fsr-3259	417	3	anonymously	anonymously	ADV
fsr-3259	417	4	managed	manage	VERB
fsr-3259	417	5	mutual	mutual	ADJ
fsr-3259	417	6	funds	fund	NOUN
fsr-3259	417	7	.	.	PUNCT
fsr-3259	418	1	journal	journal	NOUN
fsr-3259	418	2	of	of	ADP
fsr-3259	418	3	financial	financial	ADJ
fsr-3259	418	4	economics	economic	NOUN
fsr-3259	418	5	,	,	PUNCT
fsr-3259	418	6	95	95	NUM
fsr-3259	418	7	,	,	PUNCT
fsr-3259	418	8	400–424	400–424	NUM
fsr-3259	418	9	.	.	PUNCT
fsr-3259	419	1	moreno	moreno	PROPN
fsr-3259	419	2	,	,	PUNCT
fsr-3259	419	3	d.	d.	PROPN
fsr-3259	419	4	,	,	PUNCT
fsr-3259	419	5	&	&	CCONJ
fsr-3259	419	6	rodríguez	rodríguez	PROPN
fsr-3259	419	7	,	,	PUNCT
fsr-3259	419	8	r.	r.	PROPN
fsr-3259	419	9	(	(	PUNCT
fsr-3259	419	10	2013	2013	NUM
fsr-3259	419	11	)	)	PUNCT
fsr-3259	419	12	.	.	PUNCT
fsr-3259	420	1	optimal	optimal	ADJ
fsr-3259	420	2	diversification	diversification	NOUN
fsr-3259	420	3	across	across	ADP
fsr-3259	420	4	mutual	mutual	ADJ
fsr-3259	420	5	funds	fund	NOUN
fsr-3259	420	6	.	.	PUNCT
fsr-3259	421	1	applied	apply	VERB
fsr-3259	421	2	financial	financial	ADJ
fsr-3259	421	3	economics	economic	NOUN
fsr-3259	421	4	,	,	PUNCT
fsr-3259	421	5	23	23	NUM
fsr-3259	421	6	,	,	PUNCT
fsr-3259	421	7	119–122	119–122	NUM
fsr-3259	421	8	.	.	PUNCT
fsr-3259	422	1	neter	neter	PROPN
fsr-3259	422	2	,	,	PUNCT
fsr-3259	422	3	j.	j.	PROPN
fsr-3259	422	4	,	,	PUNCT
fsr-3259	422	5	wasserman	wasserman	PROPN
fsr-3259	422	6	,	,	PUNCT
fsr-3259	422	7	w.	w.	PROPN
fsr-3259	422	8	,	,	PUNCT
fsr-3259	422	9	&	&	CCONJ
fsr-3259	422	10	kutner	kutner	PROPN
fsr-3259	422	11	,	,	PUNCT
fsr-3259	422	12	m.	m.	NOUN
fsr-3259	422	13	h.	h.	PROPN
fsr-3259	422	14	(	(	PUNCT
fsr-3259	422	15	1989	1989	NUM
fsr-3259	422	16	)	)	PUNCT
fsr-3259	422	17	.	.	PUNCT
fsr-3259	423	1	applied	apply	VERB
fsr-3259	423	2	linear	linear	PROPN
fsr-3259	423	3	regression	regression	NOUN
fsr-3259	423	4	models	model	NOUN
fsr-3259	423	5	.	.	PUNCT
fsr-3259	424	1	homewood	homewood	PROPN
fsr-3259	424	2	,	,	PUNCT
fsr-3259	424	3	il	il	PROPN
fsr-3259	424	4	:	:	PUNCT
fsr-3259	424	5	irwin	irwin	PROPN
fsr-3259	424	6	.	.	PUNCT
fsr-3259	425	1	pástor	pástor	NOUN
fsr-3259	425	2	,	,	PUNCT
fsr-3259	425	3	l’uboš	l’uboš	VERB
fsr-3259	425	4	,	,	PUNCT
fsr-3259	425	5	stambaugh	stambaugh	PROPN
fsr-3259	425	6	,	,	PUNCT
fsr-3259	425	7	r.	r.	PROPN
fsr-3259	425	8	f.	f.	PROPN
fsr-3259	425	9	&	&	CCONJ
fsr-3259	425	10	taylor	taylor	PROPN
fsr-3259	425	11	,	,	PUNCT
fsr-3259	425	12	l.	l.	PROPN
fsr-3259	425	13	a.	a.	PROPN
fsr-3259	425	14	(	(	PUNCT
fsr-3259	425	15	2015	2015	NUM
fsr-3259	425	16	)	)	PUNCT
fsr-3259	425	17	.	.	PUNCT
fsr-3259	426	1	scale	scale	NOUN
fsr-3259	426	2	and	and	CCONJ
fsr-3259	426	3	skill	skill	NOUN
fsr-3259	426	4	in	in	ADP
fsr-3259	426	5	active	active	ADJ
fsr-3259	426	6	management	management	NOUN
fsr-3259	426	7	.	.	PUNCT
fsr-3259	427	1	journal	journal	NOUN
fsr-3259	427	2	of	of	ADP
fsr-3259	427	3	financial	financial	ADJ
fsr-3259	427	4	economics	economic	NOUN
fsr-3259	427	5	,	,	PUNCT
fsr-3259	427	6	116	116	NUM
fsr-3259	427	7	,	,	PUNCT
fsr-3259	427	8	23–45	23–45	NUM
fsr-3259	427	9	.	.	PUNCT
fsr-3259	428	1	shawky	shawky	PROPN
fsr-3259	428	2	,	,	PUNCT
fsr-3259	428	3	h.	h.	PROPN
fsr-3259	428	4	a.	a.	PROPN
fsr-3259	428	5	,	,	PUNCT
fsr-3259	428	6	&	&	CCONJ
fsr-3259	428	7	smith	smith	PROPN
fsr-3259	428	8	,	,	PUNCT
fsr-3259	428	9	d.	d.	PROPN
fsr-3259	428	10	m.	m.	PROPN
fsr-3259	428	11	(	(	PUNCT
fsr-3259	428	12	2005	2005	NUM
fsr-3259	428	13	)	)	PUNCT
fsr-3259	428	14	.	.	PUNCT
fsr-3259	429	1	optimal	optimal	ADJ
fsr-3259	429	2	number	number	NOUN
fsr-3259	429	3	of	of	ADP
fsr-3259	429	4	stock	stock	NOUN
fsr-3259	429	5	holdings	holding	NOUN
fsr-3259	429	6	in	in	ADP
fsr-3259	429	7	mutual	mutual	ADJ
fsr-3259	429	8	fund	fund	NOUN
fsr-3259	429	9	portfolios	portfolio	NOUN
fsr-3259	429	10	based	base	VERB
fsr-3259	429	11	on	on	ADP
fsr-3259	429	12	market	market	NOUN
fsr-3259	429	13	performance	performance	NOUN
fsr-3259	429	14	.	.	PUNCT
fsr-3259	430	1	financial	financial	ADJ
fsr-3259	430	2	review	review	PROPN
fsr-3259	430	3	,	,	PUNCT
fsr-3259	430	4	40	40	NUM
fsr-3259	430	5	,	,	PUNCT
fsr-3259	430	6	481–495	481–495	NUM
fsr-3259	430	7	.	.	PUNCT
fsr-3259	431	1	sirri	sirri	PROPN
fsr-3259	431	2	,	,	PUNCT
fsr-3259	431	3	e.	e.	PROPN
fsr-3259	431	4	r.	r.	PROPN
fsr-3259	431	5	,	,	PUNCT
fsr-3259	431	6	&	&	CCONJ
fsr-3259	431	7	tufano	tufano	ADJ
fsr-3259	431	8	,	,	PUNCT
fsr-3259	431	9	p.	p.	NOUN
fsr-3259	431	10	(	(	PUNCT
fsr-3259	431	11	1998	1998	NUM
fsr-3259	431	12	)	)	PUNCT
fsr-3259	431	13	.	.	PUNCT
fsr-3259	432	1	costly	costly	ADJ
fsr-3259	432	2	search	search	NOUN
fsr-3259	432	3	and	and	CCONJ
fsr-3259	432	4	mutual	mutual	ADJ
fsr-3259	432	5	fund	fund	NOUN
fsr-3259	432	6	flows	flow	NOUN
fsr-3259	432	7	.	.	PUNCT
fsr-3259	433	1	journal	journal	PROPN
fsr-3259	433	2	of	of	ADP
fsr-3259	433	3	finance	finance	NOUN
fsr-3259	433	4	,	,	PUNCT
fsr-3259	433	5	53	53	NUM
fsr-3259	433	6	,	,	PUNCT
fsr-3259	433	7	1589–1622	1589–1622	NUM
fsr-3259	433	8	.	.	PUNCT
fsr-3259	434	1	yadav	yadav	PROPN
fsr-3259	434	2	,	,	PUNCT
fsr-3259	434	3	v.	v.	PROPN
fsr-3259	434	4	(	(	PUNCT
fsr-3259	434	5	2010	2010	NUM
fsr-3259	434	6	)	)	PUNCT
fsr-3259	434	7	.	.	PUNCT
fsr-3259	435	1	portfolio	portfolio	NOUN
fsr-3259	435	2	matching	match	VERB
fsr-3259	435	3	by	by	ADP
fsr-3259	435	4	multi	multi	ADJ
fsr-3259	435	5	-	-	ADJ
fsr-3259	435	6	fund	fund	NOUN
fsr-3259	435	7	managers	manager	NOUN
fsr-3259	435	8	:	:	PUNCT
fsr-3259	435	9	effects	effect	NOUN
fsr-3259	435	10	of	of	ADP
fsr-3259	435	11	fund	fund	NOUN
fsr-3259	435	12	performance	performance	NOUN
fsr-3259	435	13	and	and	CCONJ
fsr-3259	435	14	flows	flow	NOUN
fsr-3259	435	15	.	.	PUNCT
fsr-3259	436	1	insead	insead	PROPN
fsr-3259	436	2	university	university	PROPN
fsr-3259	436	3	working	working	NOUN
fsr-3259	436	4	paper	paper	NOUN
fsr-3259	436	5	.	.	PUNCT
fsr-3259	437	1	zhao	zhao	NOUN
fsr-3259	437	2	,	,	PUNCT
fsr-3259	437	3	x.	x.	NOUN
fsr-3259	437	4	(	(	PUNCT
fsr-3259	437	5	2004	2004	NUM
fsr-3259	437	6	)	)	PUNCT
fsr-3259	437	7	.	.	PUNCT
fsr-3259	438	1	why	why	SCONJ
fsr-3259	438	2	are	be	AUX
fsr-3259	438	3	some	some	DET
fsr-3259	438	4	mutual	mutual	ADJ
fsr-3259	438	5	funds	fund	NOUN
fsr-3259	438	6	closed	close	VERB
fsr-3259	438	7	to	to	ADP
fsr-3259	438	8	new	new	ADJ
fsr-3259	438	9	investors	investor	NOUN
fsr-3259	438	10	?	?	PUNCT
fsr-3259	439	1	journal	journal	NOUN
fsr-3259	439	2	of	of	ADP
fsr-3259	439	3	banking	banking	NOUN
fsr-3259	439	4	and	and	CCONJ
fsr-3259	439	5	finance	finance	NOUN
fsr-3259	439	6	,	,	PUNCT
fsr-3259	439	7	28	28	NUM
fsr-3259	439	8	,	,	PUNCT
fsr-3259	439	9	1867–1887	1867–1887	NUM
fsr-3259	439	10	.	.	PUNCT
fsr-3259	440	1	49y	49y	PROPN
fsr-3259	440	2	.	.	PUNCT
fsr-3259	440	3	park	park	PROPN
fsr-3259	440	4	/	/	SYM
fsr-3259	440	5	financial	financial	ADJ
fsr-3259	440	6	services	service	NOUN
fsr-3259	440	7	review	review	VERB
fsr-3259	440	8	25	25	NUM
fsr-3259	440	9	(	(	PUNCT
fsr-3259	440	10	2016	2016	NUM
fsr-3259	440	11	)	)	PUNCT
fsr-3259	440	12	29–49	29–49	NUM