id	sid	tid	token	lemma	pos
fsr-3773	1	1	pii	pii	PROPN
fsr-3773	1	2	:	:	PUNCT
fsr-3773	1	3	1057	1057	NUM
fsr-3773	1	4	-	-	PUNCT
fsr-3773	1	5	0810(95)90003	0810(95)90003	NUM
fsr-3773	1	6	-	-	PUNCT
fsr-3773	1	7	9	9	NUM
fsr-3773	1	8	financial	financial	ADJ
fsr-3773	1	9	services	service	NOUN
fsr-3773	1	10	review	review	NOUN
fsr-3773	1	11	,	,	PUNCT
fsr-3773	1	12	4(2	4(2	NUM
fsr-3773	1	13	):	):	PUNCT
fsr-3773	1	14	71	71	NUM
fsr-3773	1	15	-	-	SYM
fsr-3773	1	16	80	80	NUM
fsr-3773	1	17	copyright	copyright	NOUN
fsr-3773	1	18	q	q	X
fsr-3773	1	19	1995	1995	NUM
fsr-3773	1	20	by	by	ADP
fsr-3773	1	21	jai	jai	PROPN
fsr-3773	1	22	press	press	PROPN
fsr-3773	1	23	inc	inc	PROPN
fsr-3773	1	24	.	.	PROPN
fsr-3773	1	25	issn	issn	PROPN
fsr-3773	1	26	:	:	PUNCT
fsr-3773	1	27	1057	1057	NUM
fsr-3773	1	28	-	-	SYM
fsr-3773	1	29	0810	0810	NUM
fsr-3773	1	30	all	all	DET
fsr-3773	1	31	rights	right	NOUN
fsr-3773	1	32	of	of	ADP
fsr-3773	1	33	reproduction	reproduction	NOUN
fsr-3773	1	34	in	in	ADP
fsr-3773	1	35	any	any	DET
fsr-3773	1	36	form	form	NOUN
fsr-3773	1	37	reserved	reserve	VERB
fsr-3773	1	38	.	.	PUNCT
fsr-3773	2	1	fund	fund	NOUN
fsr-3773	2	2	closings	closing	NOUN
fsr-3773	2	3	as	as	ADP
fsr-3773	2	4	a	a	DET
fsr-3773	2	5	signal	signal	NOUN
fsr-3773	2	6	to	to	ADP
fsr-3773	2	7	investors	investor	NOUN
fsr-3773	2	8	:	:	PUNCT
fsr-3773	2	9	investment	investment	NOUN
fsr-3773	2	10	performance	performance	NOUN
fsr-3773	2	11	of	of	ADP
fsr-3773	2	12	open	open	ADJ
fsr-3773	2	13	-	-	PUNCT
fsr-3773	2	14	end	end	NOUN
fsr-3773	2	15	mutual	mutual	ADJ
fsr-3773	2	16	funds	fund	NOUN
fsr-3773	2	17	that	that	PRON
fsr-3773	2	18	close	close	ADJ
fsr-3773	2	19	to	to	ADP
fsr-3773	2	20	new	new	ADJ
fsr-3773	2	21	shareholders	shareholder	NOUN
fsr-3773	2	22	timothy	timothy	PROPN
fsr-3773	2	23	r.	r.	PROPN
fsr-3773	2	24	smaby	smaby	PROPN
fsr-3773	2	25	john	john	PROPN
fsr-3773	2	26	l.	l.	PROPN
fsr-3773	2	27	fizel	fizel	PROPN
fsr-3773	2	28	this	this	DET
fsr-3773	2	29	article	article	NOUN
fsr-3773	2	30	examines	examine	VERB
fsr-3773	2	31	the	the	DET
fsr-3773	2	32	growing	grow	VERB
fsr-3773	2	33	phenomenon	phenomenon	NOUN
fsr-3773	2	34	of	of	ADP
fsr-3773	2	35	mutualfund	mutualfund	ADJ
fsr-3773	2	36	closings	closing	NOUN
fsr-3773	2	37	by	by	ADP
fsr-3773	2	38	analyzing	analyze	VERB
fsr-3773	2	39	the	the	DET
fsr-3773	2	40	investmentper$ormance	investmentper$ormance	NOUN
fsr-3773	2	41	of	of	ADP
fsr-3773	2	42	open	open	ADJ
fsr-3773	2	43	-	-	PUNCT
fsr-3773	2	44	endfinds	endfind	NOUN
fsr-3773	2	45	that	that	PRON
fsr-3773	2	46	close	close	ADJ
fsr-3773	2	47	to	to	ADP
fsr-3773	2	48	new	new	ADJ
fsr-3773	2	49	investors	investor	NOUN
fsr-3773	2	50	.	.	PUNCT
fsr-3773	3	1	we	we	PRON
fsr-3773	3	2	find	find	VERB
fsr-3773	3	3	that	that	SCONJ
fsr-3773	3	4	:	:	PUNCT
fsr-3773	3	5	(	(	PUNCT
fsr-3773	3	6	i	i	NOUN
fsr-3773	3	7	)	)	PUNCT
fsr-3773	3	8	the	the	DET
fsr-3773	3	9	average	average	ADJ
fsr-3773	3	10	excess	excess	ADJ
fsr-3773	3	11	return	return	NOUN
fsr-3773	3	12	(	(	PUNCT
fsr-3773	3	13	estimated	estimate	VERB
fsr-3773	3	14	by	by	ADP
fsr-3773	3	15	jensen	jensen	PROPN
fsr-3773	3	16	’s	’s	PART
fsr-3773	3	17	alpha	alpha	NOUN
fsr-3773	3	18	)	)	PUNCT
fsr-3773	3	19	was	be	AUX
fsr-3773	3	20	positive	positive	ADJ
fsr-3773	3	21	in	in	ADP
fsr-3773	3	22	the	the	DET
fsr-3773	3	23	24	24	NUM
fsr-3773	3	24	months	month	NOUN
fsr-3773	3	25	prior	prior	ADV
fsr-3773	3	26	to	to	ADP
fsr-3773	3	27	closing	closing	NOUN
fsr-3773	3	28	,	,	PUNCT
fsr-3773	3	29	(	(	PUNCT
fsr-3773	3	30	2	2	X
fsr-3773	3	31	)	)	PUNCT
fsr-3773	3	32	the	the	DET
fsr-3773	3	33	average	average	ADJ
fsr-3773	3	34	excess	excess	ADJ
fsr-3773	3	35	return	return	NOUN
fsr-3773	3	36	was	be	AUX
fsr-3773	3	37	not	not	PART
fsr-3773	3	38	sign$icantly	sign$icantly	ADV
fsr-3773	3	39	differentfrom	differentfrom	ADJ
fsr-3773	3	40	zero	zero	NUM
fsr-3773	3	41	in	in	ADP
fsr-3773	3	42	the	the	DET
fsr-3773	3	43	24	24	NUM
fsr-3773	3	44	months	month	NOUN
fsr-3773	3	45	ajier	ajier	ADJ
fsr-3773	3	46	closing	closing	NOUN
fsr-3773	3	47	,	,	PUNCT
fsr-3773	3	48	and	and	CCONJ
fsr-3773	3	49	(	(	PUNCT
fsr-3773	3	50	3	3	X
fsr-3773	3	51	)	)	PUNCT
fsr-3773	3	52	the	the	DET
fsr-3773	3	53	funds	fund	NOUN
fsr-3773	3	54	in	in	ADP
fsr-3773	3	55	the	the	DET
fsr-3773	3	56	sample	sample	NOUN
fsr-3773	3	57	on	on	ADP
fsr-3773	3	58	average	average	ADJ
fsr-3773	3	59	exhibited	exhibit	VERB
fsr-3773	3	60	a	a	DET
fsr-3773	3	61	significant	significant	ADJ
fsr-3773	3	62	decline	decline	NOUN
fsr-3773	3	63	in	in	ADP
fsr-3773	3	64	investment	investment	NOUN
fsr-3773	3	65	pe$ormance	pe$ormance	NOUN
fsr-3773	3	66	afrer	afrer	NOUN
fsr-3773	3	67	closing	closing	NOUN
fsr-3773	3	68	.	.	PUNCT
fsr-3773	4	1	these	these	DET
fsr-3773	4	2	findings	finding	NOUN
fsr-3773	4	3	suggest	suggest	VERB
fsr-3773	4	4	that	that	SCONJ
fsr-3773	4	5	thefund	thefund	PROPN
fsr-3773	4	6	managers	manager	NOUN
fsr-3773	4	7	’	’	PART
fsr-3773	4	8	strategic	strategic	ADJ
fsr-3773	4	9	decision	decision	NOUN
fsr-3773	4	10	to	to	PART
fsr-3773	4	11	close	close	VERB
fsr-3773	4	12	the	the	DET
fsr-3773	4	13	find	find	NOUN
fsr-3773	4	14	in	in	ADP
fsr-3773	4	15	order	order	NOUN
fsr-3773	4	16	to	to	PART
fsr-3773	4	17	slow	slow	VERB
fsr-3773	4	18	down	down	ADP
fsr-3773	4	19	the	the	DET
fsr-3773	4	20	growth	growth	NOUN
fsr-3773	4	21	in	in	ADP
fsr-3773	4	22	net	net	ADJ
fsr-3773	4	23	assets	asset	NOUN
fsr-3773	4	24	does	do	AUX
fsr-3773	4	25	not	not	PART
fsr-3773	4	26	prevent	prevent	VERB
fsr-3773	4	27	investmentperjormancefrom	investmentperjormancefrom	ADP
fsr-3773	4	28	declining	decline	VERB
fsr-3773	4	29	.	.	PUNCT
fsr-3773	5	1	for	for	ADP
fsr-3773	5	2	the	the	DET
fsr-3773	5	3	individual	individual	ADJ
fsr-3773	5	4	investor	investor	NOUN
fsr-3773	5	5	,	,	PUNCT
fsr-3773	5	6	an	an	DET
fsr-3773	5	7	impendinghnd	impendinghnd	ADJ
fsr-3773	5	8	closing	closing	NOUN
fsr-3773	5	9	is	be	AUX
fsr-3773	5	10	a	a	DET
fsr-3773	5	11	signal	signal	NOUN
fsr-3773	5	12	not	not	PART
fsr-3773	5	13	to	to	PART
fsr-3773	5	14	invest	invest	VERB
fsr-3773	5	15	in	in	ADP
fsr-3773	5	16	the	the	DET
fsr-3773	5	17	fund	fund	NOUN
fsr-3773	5	18	.	.	PUNCT
fsr-3773	6	1	it	it	PRON
fsr-3773	6	2	is	be	AUX
fsr-3773	6	3	also	also	ADV
fsr-3773	6	4	a	a	DET
fsr-3773	6	5	signal	signal	NOUN
fsr-3773	6	6	that	that	SCONJ
fsr-3773	6	7	current	current	ADJ
fsr-3773	6	8	shareholders	shareholder	NOUN
fsr-3773	6	9	consider	consider	VERB
fsr-3773	6	10	alternative	alternative	ADJ
fsr-3773	6	11	investments	investment	NOUN
fsr-3773	6	12	.	.	PUNCT
fsr-3773	7	1	i.	i.	PROPN
fsr-3773	7	2	introduction	introduction	NOUN
fsr-3773	7	3	in	in	ADP
fsr-3773	7	4	june	june	PROPN
fsr-3773	7	5	,	,	PUNCT
fsr-3773	7	6	1991	1991	NUM
fsr-3773	7	7	,	,	PUNCT
fsr-3773	7	8	janus	janus	PROPN
fsr-3773	7	9	funds	fund	NOUN
fsr-3773	7	10	decided	decide	VERB
fsr-3773	7	11	to	to	PART
fsr-3773	7	12	close	close	VERB
fsr-3773	7	13	its	its	PRON
fsr-3773	7	14	janus	janus	PROPN
fsr-3773	7	15	venture	venture	PROPN
fsr-3773	7	16	fund	fund	NOUN
fsr-3773	7	17	to	to	ADP
fsr-3773	7	18	new	new	ADJ
fsr-3773	7	19	investors	investor	NOUN
fsr-3773	7	20	as	as	ADP
fsr-3773	7	21	of	of	ADP
fsr-3773	7	22	september	september	PROPN
fsr-3773	7	23	30	30	NUM
fsr-3773	7	24	,	,	PUNCT
fsr-3773	7	25	1991	1991	NUM
fsr-3773	7	26	.	.	PUNCT
fsr-3773	8	1	after	after	ADP
fsr-3773	8	2	that	that	DET
fsr-3773	8	3	date	date	NOUN
fsr-3773	8	4	,	,	PUNCT
fsr-3773	8	5	it	it	PRON
fsr-3773	8	6	would	would	AUX
fsr-3773	8	7	only	only	ADV
fsr-3773	8	8	accept	accept	VERB
fsr-3773	8	9	additional	additional	ADJ
fsr-3773	8	10	investment	investment	NOUN
fsr-3773	8	11	from	from	ADP
fsr-3773	8	12	existing	exist	VERB
fsr-3773	8	13	shareholders	shareholder	NOUN
fsr-3773	8	14	.	.	PUNCT
fsr-3773	9	1	the	the	DET
fsr-3773	9	2	fund	fund	NOUN
fsr-3773	9	3	’s	’s	PART
fsr-3773	9	4	high	high	ADJ
fsr-3773	9	5	returns	return	NOUN
fsr-3773	9	6	had	have	AUX
fsr-3773	9	7	gained	gain	VERB
fsr-3773	9	8	for	for	ADP
fsr-3773	9	9	it	it	PRON
fsr-3773	9	10	a	a	DET
fsr-3773	9	11	reputation	reputation	NOUN
fsr-3773	9	12	as	as	ADP
fsr-3773	9	13	a	a	DET
fsr-3773	9	14	“	"	PUNCT
fsr-3773	9	15	hot	hot	ADJ
fsr-3773	9	16	”	"	PUNCT
fsr-3773	9	17	small	small	ADJ
fsr-3773	9	18	company	company	NOUN
fsr-3773	9	19	fund	fund	NOUN
fsr-3773	9	20	,	,	PUNCT
fsr-3773	9	21	inducing	induce	VERB
fsr-3773	9	22	investors	investor	NOUN
fsr-3773	9	23	to	to	PART
fsr-3773	9	24	pour	pour	VERB
fsr-3773	9	25	$	$	SYM
fsr-3773	9	26	500	500	NUM
fsr-3773	9	27	million	million	NUM
fsr-3773	9	28	into	into	ADP
fsr-3773	9	29	the	the	DET
fsr-3773	9	30	fund	fund	NOUN
fsr-3773	9	31	during	during	ADP
fsr-3773	9	32	the	the	DET
fsr-3773	9	33	previous	previous	ADJ
fsr-3773	9	34	three	three	NUM
fsr-3773	9	35	quarters	quarter	NOUN
fsr-3773	9	36	and	and	CCONJ
fsr-3773	9	37	limiting	limit	VERB
fsr-3773	9	38	the	the	DET
fsr-3773	9	39	fund	fund	NOUN
fsr-3773	9	40	manager	manager	NOUN
fsr-3773	9	41	’s	’s	PART
fsr-3773	9	42	ability	ability	NOUN
fsr-3773	9	43	to	to	PART
fsr-3773	9	44	specialize	specialize	VERB
fsr-3773	9	45	in	in	ADP
fsr-3773	9	46	small	small	ADJ
fsr-3773	9	47	company	company	NOUN
fsr-3773	9	48	stocks	stock	NOUN
fsr-3773	9	49	.	.	PUNCT
fsr-3773	10	1	the	the	DET
fsr-3773	10	2	impending	impending	ADJ
fsr-3773	10	3	closing	closing	NOUN
fsr-3773	10	4	prompted	prompt	VERB
fsr-3773	10	5	an	an	DET
fsr-3773	10	6	additional	additional	ADJ
fsr-3773	10	7	$	$	SYM
fsr-3773	10	8	500	500	NUM
fsr-3773	10	9	million	million	NUM
fsr-3773	10	10	in	in	ADP
fsr-3773	10	11	new	new	ADJ
fsr-3773	10	12	funds	fund	NOUN
fsr-3773	10	13	(	(	PUNCT
fsr-3773	10	14	see	see	VERB
fsr-3773	10	15	laderman	laderman	NOUN
fsr-3773	10	16	,	,	PUNCT
fsr-3773	10	17	1993	1993	NUM
fsr-3773	10	18	)	)	PUNCT
fsr-3773	10	19	.	.	PUNCT
fsr-3773	11	1	should	should	AUX
fsr-3773	11	2	investors	investor	NOUN
fsr-3773	11	3	have	have	AUX
fsr-3773	11	4	viewed	view	VERB
fsr-3773	11	5	this	this	DET
fsr-3773	11	6	impending	impending	ADJ
fsr-3773	11	7	closing	closing	NOUN
fsr-3773	11	8	as	as	ADP
fsr-3773	11	9	a	a	DET
fsr-3773	11	10	signal	signal	NOUN
fsr-3773	11	11	to	to	PART
fsr-3773	11	12	jump	jump	VERB
fsr-3773	11	13	into	into	ADP
fsr-3773	11	14	the	the	DET
fsr-3773	11	15	fund	fund	NOUN
fsr-3773	11	16	,	,	PUNCT
fsr-3773	11	17	as	as	SCONJ
fsr-3773	11	18	it	it	PRON
fsr-3773	11	19	appears	appear	VERB
fsr-3773	11	20	they	they	PRON
fsr-3773	11	21	did	do	VERB
fsr-3773	11	22	,	,	PUNCT
fsr-3773	11	23	or	or	CCONJ
fsr-3773	11	24	does	do	AUX
fsr-3773	11	25	a	a	DET
fsr-3773	11	26	hot	hot	ADJ
fsr-3773	11	27	mutual	mutual	ADJ
fsr-3773	11	28	fund	fund	NOUN
fsr-3773	11	29	that	that	PRON
fsr-3773	11	30	closes	close	VERB
fsr-3773	11	31	to	to	ADP
fsr-3773	11	32	new	new	ADJ
fsr-3773	11	33	investors	investor	NOUN
fsr-3773	11	34	cool	cool	VERB
fsr-3773	11	35	off	off	ADP
fsr-3773	11	36	once	once	ADV
fsr-3773	11	37	the	the	DET
fsr-3773	11	38	euphoria	euphoria	NOUN
fsr-3773	11	39	is	be	AUX
fsr-3773	11	40	past	past	ADJ
fsr-3773	11	41	?	?	PUNCT
fsr-3773	12	1	the	the	DET
fsr-3773	12	2	ability	ability	NOUN
fsr-3773	12	3	of	of	ADP
fsr-3773	12	4	fund	fund	NOUN
fsr-3773	12	5	managers	manager	NOUN
fsr-3773	12	6	to	to	PART
fsr-3773	12	7	maintain	maintain	VERB
fsr-3773	12	8	investment	investment	NOUN
fsr-3773	12	9	performance	performance	NOUN
fsr-3773	12	10	after	after	SCONJ
fsr-3773	12	11	a	a	DET
fsr-3773	12	12	closing	closing	NOUN
fsr-3773	12	13	is	be	AUX
fsr-3773	12	14	of	of	ADP
fsr-3773	12	15	interest	interest	NOUN
fsr-3773	12	16	to	to	ADP
fsr-3773	12	17	both	both	DET
fsr-3773	12	18	investors	investor	NOUN
fsr-3773	12	19	and	and	CCONJ
fsr-3773	12	20	researchers	researcher	NOUN
fsr-3773	12	21	.	.	PUNCT
fsr-3773	13	1	as	as	SCONJ
fsr-3773	13	2	the	the	DET
fsr-3773	13	3	example	example	NOUN
fsr-3773	13	4	above	above	ADP
fsr-3773	13	5	suggests	suggest	VERB
fsr-3773	13	6	,	,	PUNCT
fsr-3773	13	7	investors	investor	NOUN
fsr-3773	13	8	may	may	AUX
fsr-3773	13	9	respond	respond	VERB
fsr-3773	13	10	to	to	ADP
fsr-3773	13	11	imminent	imminent	ADJ
fsr-3773	13	12	closings	closing	NOUN
fsr-3773	13	13	by	by	ADP
fsr-3773	13	14	pouring	pour	VERB
fsr-3773	13	15	large	large	ADJ
fsr-3773	13	16	dollar	dollar	NOUN
fsr-3773	13	17	volumes	volume	NOUN
fsr-3773	13	18	into	into	ADP
fsr-3773	13	19	the	the	DET
fsr-3773	13	20	fund	fund	NOUN
fsr-3773	13	21	to	to	PART
fsr-3773	13	22	beat	beat	VERB
fsr-3773	13	23	the	the	DET
fsr-3773	13	24	timothyr.smaby	timothyr.smaby	PROPN
fsr-3773	13	25	and	and	CCONJ
fsr-3773	13	26	johnl.fiel	johnl.fiel	PROPN
fsr-3773	13	27	l	l	PROPN
fsr-3773	13	28	penn	penn	PROPN
fsr-3773	13	29	state	state	PROPN
fsr-3773	13	30	erie	erie	PROPN
fsr-3773	13	31	,	,	PUNCT
fsr-3773	13	32	the	the	DET
fsr-3773	13	33	behrend	behrend	PROPN
fsr-3773	13	34	college	college	NOUN
fsr-3773	13	35	,	,	PUNCT
fsr-3773	13	36	school	school	NOUN
fsr-3773	13	37	of	of	ADP
fsr-3773	13	38	business	business	NOUN
fsr-3773	13	39	,	,	PUNCT
fsr-3773	13	40	station	station	NOUN
fsr-3773	13	41	road	road	NOUN
fsr-3773	13	42	,	,	PUNCT
fsr-3773	13	43	erie	erie	PROPN
fsr-3773	13	44	,	,	PUNCT
fsr-3773	13	45	pa	pa	PROPN
fsr-3773	13	46	16563	16563	NUM
fsr-3773	13	47	-	-	SYM
fsr-3773	13	48	1400	1400	NUM
fsr-3773	13	49	;	;	PUNCT
fsr-3773	13	50	e	e	X
fsr-3773	13	51	-	-	NOUN
fsr-3773	13	52	mail	mail	NOUN
fsr-3773	13	53	:	:	PUNCT
fsr-3773	13	54	trslo@psuvm.psu.edu	trslo@psuvm.psu.edu	NUM
fsr-3773	13	55	72	72	NUM
fsr-3773	13	56	financial	financial	ADJ
fsr-3773	13	57	services	service	NOUN
fsr-3773	13	58	review	review	NOUN
fsr-3773	13	59	4(2	4(2	NUM
fsr-3773	13	60	)	)	PUNCT
fsr-3773	13	61	1995	1995	NUM
fsr-3773	13	62	closing	closing	NOUN
fsr-3773	13	63	deadline	deadline	NOUN
fsr-3773	13	64	.	.	PUNCT
fsr-3773	14	1	the	the	DET
fsr-3773	14	2	volume	volume	NOUN
fsr-3773	14	3	of	of	ADP
fsr-3773	14	4	new	new	ADJ
fsr-3773	14	5	investments	investment	NOUN
fsr-3773	14	6	made	make	VERB
fsr-3773	14	7	near	near	ADP
fsr-3773	14	8	closing	closing	NOUN
fsr-3773	14	9	should	should	AUX
fsr-3773	14	10	not	not	PART
fsr-3773	14	11	,	,	PUNCT
fsr-3773	14	12	however	however	ADV
fsr-3773	14	13	,	,	PUNCT
fsr-3773	14	14	be	be	AUX
fsr-3773	14	15	seen	see	VERB
fsr-3773	14	16	as	as	ADP
fsr-3773	14	17	extraordinary	extraordinary	ADJ
fsr-3773	14	18	.	.	PUNCT
fsr-3773	15	1	rather	rather	ADV
fsr-3773	15	2	,	,	PUNCT
fsr-3773	15	3	it	it	PRON
fsr-3773	15	4	represents	represent	VERB
fsr-3773	15	5	a	a	DET
fsr-3773	15	6	continuation	continuation	NOUN
fsr-3773	15	7	of	of	ADP
fsr-3773	15	8	rapid	rapid	ADJ
fsr-3773	15	9	fund	fund	NOUN
fsr-3773	15	10	growth	growth	NOUN
fsr-3773	15	11	that	that	PRON
fsr-3773	15	12	precipitated	precipitate	VERB
fsr-3773	15	13	the	the	DET
fsr-3773	15	14	closing	closing	NOUN
fsr-3773	15	15	in	in	ADP
fsr-3773	15	16	the	the	DET
fsr-3773	15	17	first	first	ADJ
fsr-3773	15	18	place	place	NOUN
fsr-3773	15	19	.	.	PUNCT
fsr-3773	16	1	for	for	ADP
fsr-3773	16	2	example	example	NOUN
fsr-3773	16	3	,	,	PUNCT
fsr-3773	16	4	median	median	ADJ
fsr-3773	16	5	net	net	ADJ
fsr-3773	16	6	asset	asset	NOUN
fsr-3773	16	7	growth	growth	NOUN
fsr-3773	16	8	in	in	ADP
fsr-3773	16	9	our	our	PRON
fsr-3773	16	10	sample	sample	NOUN
fsr-3773	16	11	of	of	ADP
fsr-3773	16	12	closed	closed	ADJ
fsr-3773	16	13	funds	fund	NOUN
fsr-3773	16	14	was	be	AUX
fsr-3773	16	15	approximately	approximately	ADV
fsr-3773	16	16	65	65	NUM
fsr-3773	16	17	%	%	NOUN
fsr-3773	16	18	in	in	ADP
fsr-3773	16	19	the	the	DET
fsr-3773	16	20	nine	nine	NUM
fsr-3773	16	21	months	month	NOUN
fsr-3773	16	22	prior	prior	ADV
fsr-3773	16	23	to	to	ADP
fsr-3773	16	24	the	the	DET
fsr-3773	16	25	closings	closing	NOUN
fsr-3773	16	26	and	and	CCONJ
fsr-3773	16	27	an	an	DET
fsr-3773	16	28	additional	additional	ADJ
fsr-3773	16	29	15	15	NUM
fsr-3773	16	30	%	%	NOUN
fsr-3773	16	31	in	in	ADP
fsr-3773	16	32	the	the	DET
fsr-3773	16	33	quarter	quarter	NOUN
fsr-3773	16	34	in	in	ADP
fsr-3773	16	35	which	which	PRON
fsr-3773	16	36	the	the	DET
fsr-3773	16	37	closing	closing	NOUN
fsr-3773	16	38	occurred	occur	VERB
fsr-3773	16	39	.	.	PUNCT
fsr-3773	17	1	nevertheless	nevertheless	ADV
fsr-3773	17	2	,	,	PUNCT
fsr-3773	17	3	the	the	DET
fsr-3773	17	4	flow	flow	NOUN
fsr-3773	17	5	of	of	ADP
fsr-3773	17	6	new	new	ADJ
fsr-3773	17	7	funds	fund	NOUN
fsr-3773	17	8	around	around	ADP
fsr-3773	17	9	the	the	DET
fsr-3773	17	10	closing	closing	NOUN
fsr-3773	17	11	suggests	suggest	VERB
fsr-3773	17	12	that	that	SCONJ
fsr-3773	17	13	investors	investor	NOUN
fsr-3773	17	14	believe	believe	VERB
fsr-3773	17	15	that	that	SCONJ
fsr-3773	17	16	hot	hot	ADJ
fsr-3773	17	17	funds	fund	NOUN
fsr-3773	17	18	will	will	AUX
fsr-3773	17	19	continue	continue	VERB
fsr-3773	17	20	to	to	PART
fsr-3773	17	21	be	be	AUX
fsr-3773	17	22	hot	hot	ADJ
fsr-3773	17	23	.	.	PUNCT
fsr-3773	18	1	this	this	DET
fsr-3773	18	2	assumption	assumption	NOUN
fsr-3773	18	3	is	be	AUX
fsr-3773	18	4	consistent	consistent	ADJ
fsr-3773	18	5	with	with	ADP
fsr-3773	18	6	the	the	DET
fsr-3773	18	7	empirical	empirical	ADJ
fsr-3773	18	8	evidence	evidence	NOUN
fsr-3773	18	9	provided	provide	VERB
fsr-3773	18	10	by	by	ADP
fsr-3773	18	11	hendricks	hendrick	NOUN
fsr-3773	18	12	,	,	PUNCT
fsr-3773	18	13	patel	patel	NOUN
fsr-3773	18	14	,	,	PUNCT
fsr-3773	18	15	and	and	CCONJ
fsr-3773	18	16	zeckhauser	zeckhauser	NOUN
fsr-3773	18	17	(	(	PUNCT
fsr-3773	18	18	1993	1993	NUM
fsr-3773	18	19	)	)	PUNCT
fsr-3773	18	20	and	and	CCONJ
fsr-3773	18	21	grinblatt	grinblatt	NOUN
fsr-3773	18	22	and	and	CCONJ
fsr-3773	18	23	titman	titman	NOUN
fsr-3773	18	24	(	(	PUNCT
fsr-3773	18	25	1992	1992	NUM
fsr-3773	18	26	)	)	PUNCT
fsr-3773	18	27	.	.	PUNCT
fsr-3773	19	1	using	use	VERB
fsr-3773	19	2	large	large	ADJ
fsr-3773	19	3	samples	sample	NOUN
fsr-3773	19	4	of	of	ADP
fsr-3773	19	5	no	no	DET
fsr-3773	19	6	-	-	PUNCT
fsr-3773	19	7	load	load	NOUN
fsr-3773	19	8	growth	growth	NOUN
fsr-3773	19	9	-	-	PUNCT
fsr-3773	19	10	oriented	orient	VERB
fsr-3773	19	11	funds	fund	NOUN
fsr-3773	19	12	,	,	PUNCT
fsr-3773	19	13	they	they	PRON
fsr-3773	19	14	find	find	VERB
fsr-3773	19	15	that	that	SCONJ
fsr-3773	19	16	funds	fund	NOUN
fsr-3773	19	17	which	which	PRON
fsr-3773	19	18	have	have	VERB
fsr-3773	19	19	higher	high	ADJ
fsr-3773	19	20	-	-	PUNCT
fsr-3773	19	21	than	than	ADP
fsr-3773	19	22	-	-	PUNCT
fsr-3773	19	23	average	average	ADJ
fsr-3773	19	24	risk	risk	NOUN
fsr-3773	19	25	-	-	PUNCT
fsr-3773	19	26	adjusted	adjust	VERB
fsr-3773	19	27	returns	return	NOUN
fsr-3773	19	28	in	in	ADP
fsr-3773	19	29	one	one	NUM
fsr-3773	19	30	period	period	NOUN
fsr-3773	19	31	are	be	AUX
fsr-3773	19	32	more	more	ADV
fsr-3773	19	33	likely	likely	ADJ
fsr-3773	19	34	to	to	PART
fsr-3773	19	35	have	have	VERB
fsr-3773	19	36	higher	high	ADJ
fsr-3773	19	37	-	-	PUNCT
fsr-3773	19	38	than	than	ADP
fsr-3773	19	39	-	-	PUNCT
fsr-3773	19	40	average	average	ADJ
fsr-3773	19	41	risk	risk	NOUN
fsr-3773	19	42	-	-	PUNCT
fsr-3773	19	43	adjusted	adjust	VERB
fsr-3773	19	44	returns	return	NOUN
fsr-3773	19	45	in	in	ADP
fsr-3773	19	46	subsequent	subsequent	ADJ
fsr-3773	19	47	periods	period	NOUN
fsr-3773	19	48	.	.	PUNCT
fsr-3773	20	1	however	however	ADV
fsr-3773	20	2	,	,	PUNCT
fsr-3773	20	3	the	the	DET
fsr-3773	20	4	wall	wall	PROPN
fsr-3773	20	5	street	street	PROPN
fsr-3773	20	6	journal	journal	PROPN
fsr-3773	20	7	wams	wam	VERB
fsr-3773	20	8	investors	investor	NOUN
fsr-3773	20	9	that	that	SCONJ
fsr-3773	20	10	“	"	PUNCT
fsr-3773	20	11	hot	hot	ADJ
fsr-3773	20	12	stock	stock	NOUN
fsr-3773	20	13	funds	fund	NOUN
fsr-3773	20	14	can	can	AUX
fsr-3773	20	15	cool	cool	VERB
fsr-3773	20	16	after	after	ADP
fsr-3773	20	17	closing	close	VERB
fsr-3773	20	18	”	"	PUNCT
fsr-3773	20	19	(	(	PUNCT
fsr-3773	20	20	mcgough	mcgough	NOUN
fsr-3773	20	21	,	,	PUNCT
fsr-3773	20	22	1993	1993	NUM
fsr-3773	20	23	,	,	PUNCT
fsr-3773	20	24	p.	p.	NOUN
fsr-3773	20	25	cl	cl	NOUN
fsr-3773	20	26	)	)	PUNCT
fsr-3773	20	27	.	.	PUNCT
fsr-3773	21	1	there	there	PRON
fsr-3773	21	2	are	be	VERB
fsr-3773	21	3	two	two	NUM
fsr-3773	21	4	reasons	reason	NOUN
fsr-3773	21	5	why	why	SCONJ
fsr-3773	21	6	fund	fund	NOUN
fsr-3773	21	7	performance	performance	NOUN
fsr-3773	21	8	might	might	AUX
fsr-3773	21	9	decline	decline	VERB
fsr-3773	21	10	after	after	ADP
fsr-3773	21	11	a	a	DET
fsr-3773	21	12	closing	closing	NOUN
fsr-3773	21	13	.	.	PUNCT
fsr-3773	22	1	first	first	ADV
fsr-3773	22	2	,	,	PUNCT
fsr-3773	22	3	if	if	SCONJ
fsr-3773	22	4	the	the	DET
fsr-3773	22	5	fund	fund	NOUN
fsr-3773	22	6	is	be	AUX
fsr-3773	22	7	closed	close	VERB
fsr-3773	22	8	too	too	ADV
fsr-3773	22	9	late	late	ADV
fsr-3773	22	10	,	,	PUNCT
fsr-3773	22	11	the	the	DET
fsr-3773	22	12	large	large	ADJ
fsr-3773	22	13	growth	growth	NOUN
fsr-3773	22	14	in	in	ADP
fsr-3773	22	15	assets	asset	NOUN
fsr-3773	22	16	may	may	AUX
fsr-3773	22	17	hinder	hinder	VERB
fsr-3773	22	18	the	the	DET
fsr-3773	22	19	fund	fund	NOUN
fsr-3773	22	20	manager	manager	NOUN
fsr-3773	22	21	’s	’s	PART
fsr-3773	22	22	ability	ability	NOUN
fsr-3773	22	23	to	to	PART
fsr-3773	22	24	invest	invest	VERB
fsr-3773	22	25	in	in	ADP
fsr-3773	22	26	a	a	DET
fsr-3773	22	27	manner	manner	NOUN
fsr-3773	22	28	consistent	consistent	ADJ
fsr-3773	22	29	with	with	ADP
fsr-3773	22	30	the	the	DET
fsr-3773	22	31	fund	fund	NOUN
fsr-3773	22	32	’s	’s	PART
fsr-3773	22	33	stated	state	VERB
fsr-3773	22	34	investment	investment	NOUN
fsr-3773	22	35	objective	objective	NOUN
fsr-3773	22	36	.	.	PUNCT
fsr-3773	23	1	for	for	ADP
fsr-3773	23	2	example	example	NOUN
fsr-3773	23	3	,	,	PUNCT
fsr-3773	23	4	the	the	DET
fsr-3773	23	5	fund	fund	NOUN
fsr-3773	23	6	manager	manager	NOUN
fsr-3773	23	7	of	of	ADP
fsr-3773	23	8	an	an	DET
fsr-3773	23	9	income	income	NOUN
fsr-3773	23	10	fund	fund	NOUN
fsr-3773	23	11	like	like	ADP
fsr-3773	23	12	the	the	DET
fsr-3773	23	13	lindner	lindner	PROPN
fsr-3773	23	14	dividend	dividend	NOUN
fsr-3773	23	15	fund	fund	NOUN
fsr-3773	23	16	can	can	AUX
fsr-3773	23	17	not	not	PART
fsr-3773	23	18	provide	provide	VERB
fsr-3773	23	19	the	the	DET
fsr-3773	23	20	income	income	NOUN
fsr-3773	23	21	his	his	PRON
fsr-3773	23	22	shareholders	shareholder	NOUN
fsr-3773	23	23	want	want	VERB
fsr-3773	23	24	if	if	SCONJ
fsr-3773	23	25	he	he	PRON
fsr-3773	23	26	has	have	VERB
fsr-3773	23	27	too	too	ADV
fsr-3773	23	28	much	much	ADJ
fsr-3773	23	29	cash	cash	NOUN
fsr-3773	23	30	chasing	chase	VERB
fsr-3773	23	31	too	too	ADV
fsr-3773	23	32	few	few	ADJ
fsr-3773	23	33	good	good	ADJ
fsr-3773	23	34	investment	investment	NOUN
fsr-3773	23	35	opportunities	opportunity	NOUN
fsr-3773	23	36	.	.	PUNCT
fsr-3773	24	1	according	accord	VERB
fsr-3773	24	2	to	to	ADP
fsr-3773	24	3	the	the	DET
fsr-3773	24	4	manager	manager	NOUN
fsr-3773	24	5	:	:	PUNCT
fsr-3773	24	6	“	"	PUNCT
fsr-3773	24	7	i	i	PRON
fsr-3773	24	8	ca	can	AUX
fsr-3773	24	9	n’t	not	PART
fsr-3773	24	10	invest	invest	VERB
fsr-3773	24	11	money	money	NOUN
fsr-3773	25	1	[	[	X
fsr-3773	25	2	in	in	ADP
fsr-3773	25	3	treasury	treasury	PROPN
fsr-3773	25	4	bills	bill	NOUN
fsr-3773	25	5	]	]	PUNCT
fsr-3773	25	6	at	at	ADP
fsr-3773	25	7	3	3	NUM
fsr-3773	25	8	%	%	NOUN
fsr-3773	26	1	and	and	CCONJ
fsr-3773	26	2	continue	continue	VERB
fsr-3773	26	3	to	to	PART
fsr-3773	26	4	pay	pay	VERB
fsr-3773	26	5	out	out	ADP
fsr-3773	26	6	the	the	DET
fsr-3773	26	7	7	7	NUM
fsr-3773	26	8	%	%	NOUN
fsr-3773	26	9	yield	yield	NOUN
fsr-3773	26	10	that	that	PRON
fsr-3773	26	11	i	i	PRON
fsr-3773	26	12	’m	’m	VERB
fsr-3773	26	13	trying	try	VERB
fsr-3773	26	14	to	to	PART
fsr-3773	26	15	give	give	VERB
fsr-3773	26	16	my	my	PRON
fsr-3773	26	17	shareholders	shareholder	NOUN
fsr-3773	26	18	”	"	PUNCT
fsr-3773	26	19	(	(	PUNCT
fsr-3773	26	20	see	see	VERB
fsr-3773	26	21	laderman	laderman	NOUN
fsr-3773	26	22	,	,	PUNCT
fsr-3773	26	23	1993	1993	NUM
fsr-3773	26	24	)	)	PUNCT
fsr-3773	26	25	.	.	PUNCT
fsr-3773	27	1	the	the	DET
fsr-3773	27	2	manager	manager	NOUN
fsr-3773	27	3	of	of	ADP
fsr-3773	27	4	the	the	DET
fsr-3773	27	5	oppenheimer	oppenheimer	PROPN
fsr-3773	27	6	global	global	PROPN
fsr-3773	27	7	biotech	biotech	PROPN
fsr-3773	27	8	fund	fund	NOUN
fsr-3773	27	9	,	,	PUNCT
fsr-3773	27	10	a	a	DET
fsr-3773	27	11	sector	sector	NOUN
fsr-3773	27	12	fund	fund	NOUN
fsr-3773	27	13	,	,	PUNCT
fsr-3773	27	14	had	have	VERB
fsr-3773	27	15	to	to	PART
fsr-3773	27	16	close	close	VERB
fsr-3773	27	17	to	to	PART
fsr-3773	27	18	“	"	PUNCT
fsr-3773	27	19	keep	keep	VERB
fsr-3773	27	20	the	the	DET
fsr-3773	27	21	fund	fund	NOUN
fsr-3773	27	22	purely	purely	ADV
fsr-3773	27	23	biotech	biotech	NOUN
fsr-3773	27	24	oriented	orient	VERB
fsr-3773	27	25	,	,	PUNCT
fsr-3773	27	26	and	and	CCONJ
fsr-3773	27	27	to	to	PART
fsr-3773	27	28	control	control	VERB
fsr-3773	27	29	the	the	DET
fsr-3773	27	30	stampede	stampede	NOUN
fsr-3773	27	31	of	of	ADP
fsr-3773	27	32	investors	investor	NOUN
fsr-3773	27	33	into	into	ADP
fsr-3773	27	34	this	this	DET
fsr-3773	27	35	hot	hot	ADJ
fsr-3773	27	36	and	and	CCONJ
fsr-3773	27	37	risky	risky	ADJ
fsr-3773	27	38	field	field	NOUN
fsr-3773	27	39	”	"	PUNCT
fsr-3773	27	40	(	(	PUNCT
fsr-3773	27	41	montgomery	montgomery	NOUN
fsr-3773	27	42	,	,	PUNCT
fsr-3773	27	43	1991	1991	NUM
fsr-3773	27	44	,	,	PUNCT
fsr-3773	27	45	p.	p.	NOUN
fsr-3773	27	46	75	75	NUM
fsr-3773	27	47	)	)	PUNCT
fsr-3773	27	48	.	.	PUNCT
fsr-3773	28	1	the	the	DET
fsr-3773	28	2	rush	rush	NOUN
fsr-3773	28	3	of	of	ADP
fsr-3773	28	4	new	new	ADJ
fsr-3773	28	5	money	money	NOUN
fsr-3773	28	6	coming	come	VERB
fsr-3773	28	7	in	in	ADP
fsr-3773	28	8	under	under	ADP
fsr-3773	28	9	the	the	DET
fsr-3773	28	10	deadline	deadline	NOUN
fsr-3773	28	11	exacerbates	exacerbate	VERB
fsr-3773	28	12	the	the	DET
fsr-3773	28	13	fund	fund	NOUN
fsr-3773	28	14	manager	manager	NOUN
fsr-3773	28	15	’s	’s	PART
fsr-3773	28	16	predicament	predicament	NOUN
fsr-3773	28	17	.	.	PUNCT
fsr-3773	29	1	funds	fund	NOUN
fsr-3773	29	2	often	often	ADV
fsr-3773	29	3	mitigate	mitigate	VERB
fsr-3773	29	4	the	the	DET
fsr-3773	29	5	announcement	announcement	NOUN
fsr-3773	29	6	effect	effect	NOUN
fsr-3773	29	7	by	by	ADP
fsr-3773	29	8	giving	give	VERB
fsr-3773	29	9	short	short	ADJ
fsr-3773	29	10	notice	notice	NOUN
fsr-3773	29	11	of	of	ADP
fsr-3773	29	12	the	the	DET
fsr-3773	29	13	impending	impending	ADJ
fsr-3773	29	14	closing	closing	NOUN
fsr-3773	29	15	and	and	CCONJ
fsr-3773	29	16	making	make	VERB
fsr-3773	29	17	announcements	announcement	NOUN
fsr-3773	29	18	only	only	ADV
fsr-3773	29	19	to	to	ADP
fsr-3773	29	20	current	current	ADJ
fsr-3773	29	21	fund	fund	NOUN
fsr-3773	29	22	family	family	NOUN
fsr-3773	29	23	shareholders	shareholder	NOUN
fsr-3773	29	24	.	.	PUNCT
fsr-3773	29	25	’	'	PUNCT
fsr-3773	30	1	current	current	ADJ
fsr-3773	30	2	shareholders	shareholder	NOUN
fsr-3773	30	3	usually	usually	ADV
fsr-3773	30	4	have	have	VERB
fsr-3773	30	5	the	the	DET
fsr-3773	30	6	information	information	NOUN
fsr-3773	30	7	to	to	PART
fsr-3773	30	8	make	make	VERB
fsr-3773	30	9	new	new	ADJ
fsr-3773	30	10	or	or	CCONJ
fsr-3773	30	11	additional	additional	ADJ
fsr-3773	30	12	investments	investment	NOUN
fsr-3773	30	13	,	,	PUNCT
fsr-3773	30	14	but	but	CCONJ
fsr-3773	30	15	individuals	individual	NOUN
fsr-3773	30	16	considering	consider	VERB
fsr-3773	30	17	investing	invest	VERB
fsr-3773	30	18	for	for	ADP
fsr-3773	30	19	the	the	DET
fsr-3773	30	20	first	first	ADJ
fsr-3773	30	21	time	time	NOUN
fsr-3773	30	22	must	must	AUX
fsr-3773	30	23	do	do	VERB
fsr-3773	30	24	timely	timely	ADJ
fsr-3773	30	25	,	,	PUNCT
fsr-3773	30	26	indepth	indepth	ADJ
fsr-3773	30	27	research	research	NOUN
fsr-3773	30	28	to	to	PART
fsr-3773	30	29	spot	spot	VERB
fsr-3773	30	30	upcoming	upcoming	ADJ
fsr-3773	30	31	closings	closing	NOUN
fsr-3773	30	32	and	and	CCONJ
fsr-3773	30	33	then	then	ADV
fsr-3773	30	34	act	act	VERB
fsr-3773	30	35	quickly	quickly	ADV
fsr-3773	30	36	.	.	PUNCT
fsr-3773	31	1	*	*	PUNCT
fsr-3773	31	2	fund	fund	NOUN
fsr-3773	31	3	performance	performance	NOUN
fsr-3773	31	4	may	may	AUX
fsr-3773	31	5	also	also	ADV
fsr-3773	31	6	decline	decline	VERB
fsr-3773	31	7	after	after	ADP
fsr-3773	31	8	closing	close	VERB
fsr-3773	31	9	because	because	SCONJ
fsr-3773	31	10	the	the	DET
fsr-3773	31	11	compensation	compensation	NOUN
fsr-3773	31	12	of	of	ADP
fsr-3773	31	13	most	most	ADJ
fsr-3773	31	14	fund	fund	NOUN
fsr-3773	31	15	managers	manager	NOUN
fsr-3773	31	16	is	be	AUX
fsr-3773	31	17	based	base	VERB
fsr-3773	31	18	on	on	ADP
fsr-3773	31	19	the	the	DET
fsr-3773	31	20	asset	asset	NOUN
fsr-3773	31	21	size	size	NOUN
fsr-3773	31	22	of	of	ADP
fsr-3773	31	23	the	the	DET
fsr-3773	31	24	fund	fund	NOUN
fsr-3773	31	25	.	.	PUNCT
fsr-3773	31	26	”	"	PUNCT
fsr-3773	32	1	closing	close	VERB
fsr-3773	32	2	a	a	DET
fsr-3773	32	3	fund	fund	NOUN
fsr-3773	32	4	restricts	restrict	VERB
fsr-3773	32	5	asset	asset	NOUN
fsr-3773	32	6	growth	growth	NOUN
fsr-3773	32	7	and	and	CCONJ
fsr-3773	32	8	size	size	NOUN
fsr-3773	32	9	-	-	PUNCT
fsr-3773	32	10	based	base	VERB
fsr-3773	32	11	compensation	compensation	NOUN
fsr-3773	32	12	.	.	PUNCT
fsr-3773	33	1	the	the	DET
fsr-3773	33	2	fund	fund	NOUN
fsr-3773	33	3	manager	manager	NOUN
fsr-3773	33	4	can	can	AUX
fsr-3773	33	5	be	be	AUX
fsr-3773	33	6	expected	expect	VERB
fsr-3773	33	7	to	to	PART
fsr-3773	33	8	respond	respond	VERB
fsr-3773	33	9	by	by	ADP
fsr-3773	33	10	redirecting	redirect	VERB
fsr-3773	33	11	some	some	DET
fsr-3773	33	12	attention	attention	NOUN
fsr-3773	33	13	from	from	ADP
fsr-3773	33	14	the	the	DET
fsr-3773	33	15	closed	closed	ADJ
fsr-3773	33	16	fund	fund	NOUN
fsr-3773	33	17	to	to	ADP
fsr-3773	33	18	other	other	ADJ
fsr-3773	33	19	funds	fund	NOUN
fsr-3773	33	20	he	he	PRON
fsr-3773	33	21	or	or	CCONJ
fsr-3773	33	22	she	she	PRON
fsr-3773	33	23	manages	manage	VERB
fsr-3773	33	24	,	,	PUNCT
fsr-3773	33	25	perhaps	perhaps	ADV
fsr-3773	33	26	a	a	DET
fsr-3773	33	27	clone	clone	NOUN
fsr-3773	33	28	fund	fund	NOUN
fsr-3773	33	29	opened	open	VERB
fsr-3773	33	30	at	at	ADP
fsr-3773	33	31	the	the	DET
fsr-3773	33	32	time	time	NOUN
fsr-3773	33	33	the	the	DET
fsr-3773	33	34	original	original	ADJ
fsr-3773	33	35	fund	fund	NOUN
fsr-3773	33	36	was	be	AUX
fsr-3773	33	37	closed	closed	ADJ
fsr-3773	33	38	.	.	PUNCT
fsr-3773	34	1	although	although	SCONJ
fsr-3773	34	2	compensation	compensation	NOUN
fsr-3773	34	3	may	may	AUX
fsr-3773	34	4	also	also	ADV
fsr-3773	34	5	deteriorate	deteriorate	VERB
fsr-3773	34	6	if	if	SCONJ
fsr-3773	34	7	a	a	DET
fsr-3773	34	8	decline	decline	NOUN
fsr-3773	34	9	in	in	ADP
fsr-3773	34	10	performance	performance	NOUN
fsr-3773	34	11	prompts	prompt	NOUN
fsr-3773	34	12	investors	investor	NOUN
fsr-3773	34	13	to	to	PART
fsr-3773	34	14	sell	sell	VERB
fsr-3773	34	15	out	out	ADP
fsr-3773	34	16	,	,	PUNCT
fsr-3773	34	17	closing	close	VERB
fsr-3773	34	18	a	a	DET
fsr-3773	34	19	fund	fund	NOUN
fsr-3773	34	20	dampens	dampen	VERB
fsr-3773	34	21	the	the	DET
fsr-3773	34	22	incentives	incentive	NOUN
fsr-3773	34	23	for	for	SCONJ
fsr-3773	34	24	managers	manager	NOUN
fsr-3773	34	25	to	to	PART
fsr-3773	34	26	maximize	maximize	VERB
fsr-3773	34	27	returns	return	NOUN
fsr-3773	34	28	of	of	ADP
fsr-3773	34	29	that	that	DET
fsr-3773	34	30	fund	fund	NOUN
fsr-3773	34	31	.	.	PUNCT
fsr-3773	35	1	indeed	indeed	ADV
fsr-3773	35	2	,	,	PUNCT
fsr-3773	35	3	there	there	PRON
fsr-3773	35	4	is	be	VERB
fsr-3773	35	5	evidence	evidence	NOUN
fsr-3773	35	6	to	to	PART
fsr-3773	35	7	suggest	suggest	VERB
fsr-3773	35	8	that	that	SCONJ
fsr-3773	35	9	a	a	DET
fsr-3773	35	10	decline	decline	NOUN
fsr-3773	35	11	in	in	ADP
fsr-3773	35	12	performance	performance	NOUN
fsr-3773	35	13	does	do	VERB
fsr-3773	35	14	nor	nor	CCONJ
fsr-3773	35	15	prompt	prompt	VERB
fsr-3773	35	16	investors	investor	NOUN
fsr-3773	35	17	to	to	PART
fsr-3773	35	18	sell	sell	VERB
fsr-3773	35	19	out	out	ADP
fsr-3773	35	20	.	.	PUNCT
fsr-3773	36	1	according	accord	VERB
fsr-3773	36	2	to	to	ADP
fsr-3773	36	3	sirri	sirri	NOUN
fsr-3773	36	4	and	and	CCONJ
fsr-3773	36	5	tufano	tufano	ADJ
fsr-3773	36	6	(	(	PUNCT
fsr-3773	36	7	1993	1993	NUM
fsr-3773	36	8	,	,	PUNCT
fsr-3773	36	9	p.	p.	NOUN
fsr-3773	36	10	i	i	PROPN
fsr-3773	36	11	)	)	PUNCT
fsr-3773	36	12	,	,	PUNCT
fsr-3773	36	13	“	"	PUNCT
fsr-3773	36	14	consumers	consumer	NOUN
fsr-3773	36	15	base	base	VERB
fsr-3773	36	16	investment	investment	NOUN
fsr-3773	36	17	decisions	decision	NOUN
fsr-3773	36	18	on	on	ADP
fsr-3773	36	19	historical	historical	ADJ
fsr-3773	36	20	performance	performance	NOUN
fsr-3773	36	21	asymmetrically	asymmetrically	ADV
fsr-3773	36	22	:	:	PUNCT
fsr-3773	36	23	exceptionally	exceptionally	ADV
fsr-3773	36	24	high	high	ADJ
fsr-3773	36	25	performing	perform	VERB
fsr-3773	36	26	funds	fund	NOUN
fsr-3773	36	27	reap	reap	VERB
fsr-3773	36	28	rewards	reward	NOUN
fsr-3773	36	29	(	(	PUNCT
fsr-3773	36	30	in	in	ADP
fsr-3773	36	31	terms	term	NOUN
fsr-3773	36	32	of	of	ADP
fsr-3773	36	33	new	new	ADJ
fsr-3773	36	34	money	money	NOUN
fsr-3773	36	35	inflow	inflow	NOUN
fsr-3773	36	36	)	)	PUNCT
fsr-3773	36	37	,	,	PUNCT
fsr-3773	36	38	but	but	CCONJ
fsr-3773	36	39	poorer	poor	ADJ
fsr-3773	36	40	performance	performance	NOUN
fsr-3773	36	41	is	be	AUX
fsr-3773	36	42	generally	generally	ADV
fsr-3773	36	43	not	not	PART
fsr-3773	36	44	penalized	penalize	VERB
fsr-3773	36	45	.	.	PUNCT
fsr-3773	36	46	”	"	PUNCT
fsr-3773	37	1	the	the	DET
fsr-3773	37	2	conflicting	conflict	VERB
fsr-3773	37	3	hypotheses	hypothesis	NOUN
fsr-3773	37	4	and	and	CCONJ
fsr-3773	37	5	empirical	empirical	ADJ
fsr-3773	37	6	evidence	evidence	NOUN
fsr-3773	37	7	leave	leave	VERB
fsr-3773	37	8	unanswered	unanswered	ADJ
fsr-3773	37	9	two	two	NUM
fsr-3773	37	10	important	important	ADJ
fsr-3773	37	11	questions	question	NOUN
fsr-3773	37	12	facing	face	VERB
fsr-3773	37	13	the	the	DET
fsr-3773	37	14	individual	individual	ADJ
fsr-3773	37	15	investor	investor	NOUN
fsr-3773	37	16	.	.	PUNCT
fsr-3773	38	1	have	have	VERB
fsr-3773	38	2	funds	fund	NOUN
fsr-3773	38	3	that	that	PRON
fsr-3773	38	4	closed	close	VERB
fsr-3773	38	5	generated	generate	VERB
fsr-3773	38	6	“	"	PUNCT
fsr-3773	38	7	excess	excess	ADJ
fsr-3773	38	8	”	"	PUNCT
fsr-3773	38	9	returns	return	NOUN
fsr-3773	38	10	prior	prior	ADV
fsr-3773	38	11	to	to	ADP
fsr-3773	38	12	the	the	DET
fsr-3773	38	13	closing	closing	NOUN
fsr-3773	38	14	?	?	PUNCT
fsr-3773	39	1	and	and	CCONJ
fsr-3773	39	2	if	if	SCONJ
fsr-3773	39	3	so	so	ADV
fsr-3773	39	4	,	,	PUNCT
fsr-3773	39	5	did	do	AUX
fsr-3773	39	6	they	they	PRON
fsr-3773	39	7	close	close	VERB
fsr-3773	39	8	in	in	ADP
fsr-3773	39	9	time	time	NOUN
fsr-3773	39	10	to	to	PART
fsr-3773	39	11	maintain	maintain	VERB
fsr-3773	39	12	that	that	DET
fsr-3773	39	13	performance	performance	NOUN
fsr-3773	39	14	level	level	NOUN
fsr-3773	39	15	after	after	ADP
fsr-3773	39	16	the	the	DET
fsr-3773	39	17	closing	closing	NOUN
fsr-3773	39	18	?	?	PUNCT
fsr-3773	40	1	if	if	SCONJ
fsr-3773	40	2	the	the	DET
fsr-3773	40	3	answer	answer	NOUN
fsr-3773	40	4	to	to	ADP
fsr-3773	40	5	both	both	DET
fsr-3773	40	6	questions	question	NOUN
fsr-3773	40	7	is	be	AUX
fsr-3773	40	8	yes	yes	INTJ
fsr-3773	40	9	,	,	PUNCT
fsr-3773	40	10	the	the	DET
fsr-3773	40	11	appropriate	appropriate	ADJ
fsr-3773	40	12	response	response	NOUN
fsr-3773	40	13	of	of	ADP
fsr-3773	40	14	an	an	DET
fsr-3773	40	15	individual	individual	ADJ
fsr-3773	40	16	investor	investor	NOUN
fsr-3773	40	17	to	to	ADP
fsr-3773	40	18	such	such	DET
fsr-3773	40	19	a	a	DET
fsr-3773	40	20	closing	closing	NOUN
fsr-3773	40	21	would	would	AUX
fsr-3773	40	22	be	be	AUX
fsr-3773	40	23	to	to	PART
fsr-3773	40	24	jump	jump	VERB
fsr-3773	40	25	into	into	ADP
fsr-3773	40	26	the	the	DET
fsr-3773	40	27	fund	fund	NOUN
fsr-3773	40	28	.	.	PUNCT
fsr-3773	41	1	if	if	SCONJ
fsr-3773	41	2	the	the	DET
fsr-3773	41	3	answer	answer	NOUN
fsr-3773	41	4	to	to	ADP
fsr-3773	41	5	the	the	DET
fsr-3773	41	6	second	second	ADJ
fsr-3773	41	7	question	question	NOUN
fsr-3773	41	8	figure	figure	NOUN
fsr-3773	41	9	2	2	NUM
fsr-3773	41	10	.	.	NOUN
fsr-3773	41	11	number	number	NOUN
fsr-3773	41	12	of	of	ADP
fsr-3773	41	13	mutual	mutual	ADJ
fsr-3773	41	14	funds	fund	NOUN
fsr-3773	41	15	reported	report	VERB
fsr-3773	41	16	by	by	ADP
fsr-3773	41	17	barron’silipper	barron’silipper	NOUN
fsr-3773	41	18	mutual	mutual	ADJ
fsr-3773	41	19	fund	fund	NOUN
fsr-3773	41	20	quarterly	quarterly	ADV
fsr-3773	41	21	to	to	PART
fsr-3773	41	22	be	be	AUX
fsr-3773	41	23	closed	close	VERB
fsr-3773	41	24	to	to	ADP
fsr-3773	41	25	new	new	ADJ
fsr-3773	41	26	investors	investor	NOUN
fsr-3773	41	27	as	as	ADP
fsr-3773	41	28	of	of	ADP
fsr-3773	41	29	the	the	DET
fsr-3773	41	30	end	end	NOUN
fsr-3773	41	31	of	of	ADP
fsr-3773	41	32	each	each	DET
fsr-3773	41	33	quarter	quarter	NOUN
fsr-3773	41	34	.	.	PUNCT
fsr-3773	41	35	is	be	AUX
fsr-3773	41	36	no	no	PRON
fsr-3773	41	37	,	,	PUNCT
fsr-3773	41	38	the	the	DET
fsr-3773	41	39	closing	closing	NOUN
fsr-3773	41	40	is	be	AUX
fsr-3773	41	41	a	a	DET
fsr-3773	41	42	signal	signal	NOUN
fsr-3773	41	43	to	to	ADP
fsr-3773	41	44	the	the	DET
fsr-3773	41	45	investor	investor	NOUN
fsr-3773	41	46	that	that	PRON
fsr-3773	41	47	the	the	DET
fsr-3773	41	48	fund	fund	NOUN
fsr-3773	41	49	manager	manager	NOUN
fsr-3773	41	50	believes	believe	VERB
fsr-3773	41	51	that	that	SCONJ
fsr-3773	41	52	it	it	PRON
fsr-3773	41	53	is	be	AUX
fsr-3773	41	54	not	not	PART
fsr-3773	41	55	possible	possible	ADJ
fsr-3773	41	56	to	to	PART
fsr-3773	41	57	maintain	maintain	VERB
fsr-3773	41	58	the	the	DET
fsr-3773	41	59	previous	previous	ADJ
fsr-3773	41	60	level	level	NOUN
fsr-3773	41	61	of	of	ADP
fsr-3773	41	62	investment	investment	NOUN
fsr-3773	41	63	performance	performance	NOUN
fsr-3773	41	64	.	.	PUNCT
fsr-3773	42	1	these	these	DET
fsr-3773	42	2	questions	question	NOUN
fsr-3773	42	3	have	have	AUX
fsr-3773	42	4	become	become	VERB
fsr-3773	42	5	increasingly	increasingly	ADV
fsr-3773	42	6	important	important	ADJ
fsr-3773	42	7	as	as	SCONJ
fsr-3773	42	8	the	the	DET
fsr-3773	42	9	rate	rate	NOUN
fsr-3773	42	10	of	of	ADP
fsr-3773	42	11	fund	fund	NOUN
fsr-3773	42	12	closings	closing	NOUN
fsr-3773	42	13	accelerates	accelerate	VERB
fsr-3773	42	14	.	.	PUNCT
fsr-3773	43	1	as	as	SCONJ
fsr-3773	43	2	interest	interest	NOUN
fsr-3773	43	3	rates	rate	NOUN
fsr-3773	43	4	have	have	AUX
fsr-3773	43	5	dropped	drop	VERB
fsr-3773	43	6	to	to	ADP
fsr-3773	43	7	xi	xi	NOUN
fsr-3773	43	8	-	-	PUNCT
fsr-3773	43	9	year	year	NOUN
fsr-3773	43	10	lows	low	NOUN
fsr-3773	43	11	in	in	ADP
fsr-3773	43	12	recent	recent	ADJ
fsr-3773	43	13	years	year	NOUN
fsr-3773	43	14	,	,	PUNCT
fsr-3773	43	15	investors	investor	NOUN
fsr-3773	43	16	have	have	AUX
fsr-3773	43	17	searched	search	VERB
fsr-3773	43	18	for	for	ADP
fsr-3773	43	19	alternatives	alternative	NOUN
fsr-3773	43	20	to	to	ADP
fsr-3773	43	21	the	the	DET
fsr-3773	43	22	relatively	relatively	ADV
fsr-3773	43	23	low	low	ADJ
fsr-3773	43	24	yields	yield	NOUN
fsr-3773	43	25	available	available	ADJ
fsr-3773	43	26	through	through	ADP
fsr-3773	43	27	bank	bank	NOUN
fsr-3773	43	28	certificates	certificate	NOUN
fsr-3773	43	29	of	of	ADP
fsr-3773	43	30	deposit	deposit	NOUN
fsr-3773	43	31	and	and	CCONJ
fsr-3773	43	32	money	money	NOUN
fsr-3773	43	33	-	-	PUNCT
fsr-3773	43	34	market	market	NOUN
fsr-3773	43	35	mutual	mutual	ADJ
fsr-3773	43	36	funds	fund	NOUN
fsr-3773	43	37	.	.	PUNCT
fsr-3773	44	1	the	the	DET
fsr-3773	44	2	result	result	NOUN
fsr-3773	44	3	has	have	AUX
fsr-3773	44	4	been	be	AUX
fsr-3773	44	5	a	a	DET
fsr-3773	44	6	flood	flood	NOUN
fsr-3773	44	7	of	of	ADP
fsr-3773	44	8	money	money	NOUN
fsr-3773	44	9	into	into	ADP
fsr-3773	44	10	open	open	ADJ
fsr-3773	44	11	-	-	PUNCT
fsr-3773	44	12	end	end	NOUN
fsr-3773	44	13	mutual	mutual	ADJ
fsr-3773	44	14	funds	fund	NOUN
fsr-3773	44	15	that	that	PRON
fsr-3773	44	16	invest	invest	VERB
fsr-3773	44	17	in	in	ADP
fsr-3773	44	18	equity	equity	NOUN
fsr-3773	44	19	and	and	CCONJ
fsr-3773	44	20	fixed	fix	VERB
fsr-3773	44	21	-	-	PUNCT
fsr-3773	44	22	income	income	NOUN
fsr-3773	44	23	securities	security	NOUN
fsr-3773	44	24	.	.	PUNCT
fsr-3773	45	1	although	although	SCONJ
fsr-3773	45	2	mutual	mutual	ADJ
fsr-3773	45	3	funds	fund	NOUN
fsr-3773	45	4	have	have	AUX
fsr-3773	45	5	been	be	AUX
fsr-3773	45	6	closing	close	VERB
fsr-3773	45	7	intermittently	intermittently	ADV
fsr-3773	45	8	for	for	ADP
fsr-3773	45	9	many	many	ADJ
fsr-3773	45	10	years	year	NOUN
fsr-3773	45	11	(	(	PUNCT
fsr-3773	45	12	state	state	NOUN
fsr-3773	45	13	street	street	NOUN
fsr-3773	45	14	investment	investment	NOUN
fsr-3773	45	15	trust	trust	NOUN
fsr-3773	45	16	was	be	AUX
fsr-3773	45	17	closed	close	VERB
fsr-3773	45	18	in	in	ADP
fsr-3773	45	19	1944	1944	NUM
fsr-3773	45	20	because	because	SCONJ
fsr-3773	45	21	it	it	PRON
fsr-3773	45	22	was	be	AUX
fsr-3773	45	23	too	too	ADV
fsr-3773	45	24	big	big	ADJ
fsr-3773	45	25	and	and	CCONJ
fsr-3773	45	26	was	be	AUX
fsr-3773	45	27	not	not	PART
fsr-3773	45	28	reopened	reopen	VERB
fsr-3773	45	29	until	until	ADP
fsr-3773	45	30	19891	19891	NUM
fsr-3773	45	31	,	,	PUNCT
fsr-3773	45	32	the	the	DET
fsr-3773	45	33	recent	recent	ADJ
fsr-3773	45	34	growth	growth	NOUN
fsr-3773	45	35	in	in	ADP
fsr-3773	45	36	the	the	DET
fsr-3773	45	37	mutual	mutual	ADJ
fsr-3773	45	38	fund	fund	NOUN
fsr-3773	45	39	industry	industry	NOUN
fsr-3773	45	40	has	have	AUX
fsr-3773	45	41	led	lead	VERB
fsr-3773	45	42	to	to	ADP
fsr-3773	45	43	a	a	DET
fsr-3773	45	44	spate	spate	NOUN
fsr-3773	45	45	of	of	ADP
fsr-3773	45	46	new	new	ADJ
fsr-3773	45	47	closings	closing	NOUN
fsr-3773	45	48	,	,	PUNCT
fsr-3773	45	49	figure	figure	VERB
fsr-3773	45	50	1	1	NUM
fsr-3773	45	51	documents	document	NOUN
fsr-3773	45	52	the	the	DET
fsr-3773	45	53	growth	growth	NOUN
fsr-3773	45	54	in	in	ADP
fsr-3773	45	55	the	the	DET
fsr-3773	45	56	number	number	NOUN
fsr-3773	45	57	of	of	ADP
fsr-3773	45	58	closed	closed	ADJ
fsr-3773	45	59	funds	fund	NOUN
fsr-3773	45	60	,	,	PUNCT
fsr-3773	45	61	as	as	SCONJ
fsr-3773	45	62	reported	report	VERB
fsr-3773	45	63	by	by	ADP
fsr-3773	45	64	lipper	lipper	PROPN
fsr-3773	45	65	analytical	analytical	ADJ
fsr-3773	45	66	services	service	NOUN
fsr-3773	45	67	in	in	ADP
fsr-3773	45	68	the	the	DET
fsr-3773	45	69	quarterly	quarterly	ADJ
fsr-3773	45	70	mutual	mutual	ADJ
fsr-3773	45	71	funds	fund	NOUN
fsr-3773	45	72	issue	issue	NOUN
fsr-3773	45	73	of	of	ADP
fsr-3773	45	74	burron	burron	NOUN
fsr-3773	45	75	’s	’s	PART
fsr-3773	45	76	(	(	PUNCT
fsr-3773	45	77	called	call	VERB
fsr-3773	45	78	barran’s	barran’s	NOUN
fsr-3773	45	79	/	/	SYM
fsr-3773	45	80	lipper	lipper	PROPN
fsr-3773	45	81	mutual	mutual	NOUN
fsr-3773	45	82	.	.	PUNCT
fsr-3773	46	1	fund	fund	NOUN
fsr-3773	46	2	quarterly	quarterly	ADV
fsr-3773	46	3	)	)	PUNCT
fsr-3773	46	4	,	,	PUNCT
fsr-3773	46	5	from	from	ADP
fsr-3773	46	6	the	the	DET
fsr-3773	46	7	second	second	ADJ
fsr-3773	46	8	quarter	quarter	NOUN
fsr-3773	46	9	of	of	ADP
fsr-3773	46	10	1985	1985	NUM
fsr-3773	46	11	(	(	PUNCT
fsr-3773	46	12	when	when	SCONJ
fsr-3773	46	13	lipper	lipper	PROPN
fsr-3773	46	14	first	first	ADV
fsr-3773	46	15	reported	report	VERB
fsr-3773	46	16	funds	fund	NOUN
fsr-3773	46	17	as	as	ADP
fsr-3773	46	18	“	"	PUNCT
fsr-3773	46	19	closed	close	VERB
fsr-3773	46	20	to	to	ADP
fsr-3773	46	21	new	new	ADJ
fsr-3773	46	22	investors	investor	NOUN
fsr-3773	46	23	”	"	PUNCT
fsr-3773	46	24	)	)	PUNCT
fsr-3773	46	25	to	to	ADP
fsr-3773	46	26	the	the	DET
fsr-3773	46	27	third	third	ADJ
fsr-3773	46	28	quarter	quarter	NOUN
fsr-3773	46	29	of	of	ADP
fsr-3773	46	30	1993	1993	NUM
fsr-3773	46	31	.	.	PUNCT
fsr-3773	47	1	as	as	ADP
fsr-3773	47	2	of	of	ADP
fsr-3773	47	3	september	september	PROPN
fsr-3773	47	4	30	30	NUM
fsr-3773	47	5	,	,	PUNCT
fsr-3773	47	6	1993	1993	NUM
fsr-3773	47	7	,	,	PUNCT
fsr-3773	47	8	64	64	NUM
fsr-3773	47	9	funds	fund	NOUN
fsr-3773	47	10	were	be	AUX
fsr-3773	47	11	closed	close	VERB
fsr-3773	47	12	to	to	ADP
fsr-3773	47	13	new	new	ADJ
fsr-3773	47	14	investors	investor	NOUN
fsr-3773	47	15	,	,	PUNCT
fsr-3773	47	16	in	in	ADP
fsr-3773	47	17	this	this	DET
fsr-3773	47	18	paper	paper	NOUN
fsr-3773	47	19	,	,	PUNCT
fsr-3773	47	20	we	we	PRON
fsr-3773	47	21	examine	examine	VERB
fsr-3773	47	22	the	the	DET
fsr-3773	47	23	growing	grow	VERB
fsr-3773	47	24	phenomenon	phenomenon	NOUN
fsr-3773	47	25	of	of	ADP
fsr-3773	47	26	fund	fund	NOUN
fsr-3773	47	27	closings	closing	NOUN
fsr-3773	47	28	by	by	ADP
fsr-3773	47	29	comparing	compare	VERB
fsr-3773	47	30	the	the	DET
fsr-3773	47	31	excess	excess	ADJ
fsr-3773	47	32	returns	return	NOUN
fsr-3773	47	33	of	of	ADP
fsr-3773	47	34	closed	closed	ADJ
fsr-3773	47	35	funds	fund	NOUN
fsr-3773	47	36	before	before	ADP
fsr-3773	47	37	and	and	CCONJ
fsr-3773	47	38	after	after	ADP
fsr-3773	47	39	the	the	DET
fsr-3773	47	40	closings	closing	NOUN
fsr-3773	47	41	.	.	PUNCT
fsr-3773	48	1	our	our	PRON
fsr-3773	48	2	results	result	NOUN
fsr-3773	48	3	suggest	suggest	VERB
fsr-3773	48	4	that	that	SCONJ
fsr-3773	48	5	closed	close	VERB
fsr-3773	48	6	74	74	NUM
fsr-3773	48	7	financialservicesreview	financialservicesreview	NOUN
fsr-3773	48	8	4(2	4(2	NUM
fsr-3773	48	9	)	)	PUNCT
fsr-3773	48	10	1995	1995	NUM
fsr-3773	48	11	funds	fund	NOUN
fsr-3773	48	12	do	do	AUX
fsr-3773	48	13	earn	earn	VERB
fsr-3773	48	14	positive	positive	ADJ
fsr-3773	48	15	excess	excess	ADJ
fsr-3773	48	16	returns	return	NOUN
fsr-3773	48	17	prior	prior	ADV
fsr-3773	48	18	to	to	ADP
fsr-3773	48	19	closing	closing	NOUN
fsr-3773	48	20	but	but	CCONJ
fsr-3773	48	21	that	that	DET
fsr-3773	48	22	fund	fund	NOUN
fsr-3773	48	23	performance	performance	NOUN
fsr-3773	48	24	drops	drop	VERB
fsr-3773	48	25	significantly	significantly	ADV
fsr-3773	48	26	after	after	ADP
fsr-3773	48	27	closing	close	VERB
fsr-3773	48	28	.	.	PUNCT
fsr-3773	49	1	for	for	ADP
fsr-3773	49	2	the	the	DET
fsr-3773	49	3	individual	individual	ADJ
fsr-3773	49	4	investor	investor	NOUN
fsr-3773	49	5	,	,	PUNCT
fsr-3773	49	6	an	an	DET
fsr-3773	49	7	impending	impending	ADJ
fsr-3773	49	8	fund	fund	NOUN
fsr-3773	49	9	closing	closing	NOUN
fsr-3773	49	10	is	be	AUX
fsr-3773	49	11	a	a	DET
fsr-3773	49	12	signal	signal	NOUN
fsr-3773	49	13	not	not	PART
fsr-3773	49	14	to	to	PART
fsr-3773	49	15	invest	invest	VERB
fsr-3773	49	16	in	in	ADP
fsr-3773	49	17	the	the	DET
fsr-3773	49	18	fund	fund	NOUN
fsr-3773	49	19	.	.	PUNCT
fsr-3773	50	1	ii	ii	PROPN
fsr-3773	50	2	.	.	PUNCT
fsr-3773	51	1	methodology	methodology	VERB
fsr-3773	51	2	the	the	DET
fsr-3773	51	3	analysis	analysis	NOUN
fsr-3773	51	4	of	of	ADP
fsr-3773	51	5	the	the	DET
fsr-3773	51	6	investment	investment	NOUN
fsr-3773	51	7	performance	performance	NOUN
fsr-3773	51	8	of	of	ADP
fsr-3773	51	9	mutual	mutual	ADJ
fsr-3773	51	10	funds	fund	NOUN
fsr-3773	51	11	closed	close	VERB
fsr-3773	51	12	to	to	ADP
fsr-3773	51	13	new	new	ADJ
fsr-3773	51	14	investors	investor	NOUN
fsr-3773	51	15	is	be	AUX
fsr-3773	51	16	done	do	VERB
fsr-3773	51	17	in	in	ADP
fsr-3773	51	18	three	three	NUM
fsr-3773	51	19	steps	step	NOUN
fsr-3773	51	20	,	,	PUNCT
fsr-3773	51	21	first	first	ADV
fsr-3773	51	22	,	,	PUNCT
fsr-3773	51	23	we	we	PRON
fsr-3773	51	24	split	split	VERB
fsr-3773	51	25	the	the	DET
fsr-3773	51	26	sample	sample	NOUN
fsr-3773	51	27	of	of	ADP
fsr-3773	51	28	fund	fund	NOUN
fsr-3773	51	29	returns	return	NOUN
fsr-3773	51	30	into	into	ADP
fsr-3773	51	31	preand	preand	NOUN
fsr-3773	51	32	post	post	ADJ
fsr-3773	51	33	-	-	ADJ
fsr-3773	51	34	closing	closing	ADJ
fsr-3773	51	35	subsamples	subsample	NOUN
fsr-3773	51	36	.	.	PUNCT
fsr-3773	52	1	second	second	ADV
fsr-3773	52	2	,	,	PUNCT
fsr-3773	52	3	we	we	PRON
fsr-3773	52	4	estimate	estimate	VERB
fsr-3773	52	5	the	the	DET
fsr-3773	52	6	excess	excess	ADJ
fsr-3773	52	7	returns	return	NOUN
fsr-3773	52	8	of	of	ADP
fsr-3773	52	9	each	each	DET
fsr-3773	52	10	fund	fund	NOUN
fsr-3773	52	11	before	before	ADP
fsr-3773	52	12	and	and	CCONJ
fsr-3773	52	13	after	after	ADP
fsr-3773	52	14	closing	close	VERB
fsr-3773	52	15	.	.	PUNCT
fsr-3773	53	1	finally	finally	ADV
fsr-3773	53	2	,	,	PUNCT
fsr-3773	53	3	we	we	PRON
fsr-3773	53	4	test	test	VERB
fsr-3773	53	5	whether	whether	SCONJ
fsr-3773	53	6	the	the	DET
fsr-3773	53	7	average	average	ADJ
fsr-3773	53	8	excess	excess	ADJ
fsr-3773	53	9	returns	return	NOUN
fsr-3773	53	10	of	of	ADP
fsr-3773	53	11	the	the	DET
fsr-3773	53	12	funds	fund	NOUN
fsr-3773	53	13	before	before	ADP
fsr-3773	53	14	and	and	CCONJ
fsr-3773	53	15	after	after	ADP
fsr-3773	53	16	closing	closing	NOUN
fsr-3773	53	17	are	be	AUX
fsr-3773	53	18	significantly	significantly	ADV
fsr-3773	53	19	different	different	ADJ
fsr-3773	53	20	from	from	ADP
fsr-3773	53	21	zero	zero	NUM
fsr-3773	53	22	and	and	CCONJ
fsr-3773	53	23	whether	whether	SCONJ
fsr-3773	53	24	there	there	PRON
fsr-3773	53	25	is	be	VERB
fsr-3773	53	26	any	any	DET
fsr-3773	53	27	significant	significant	ADJ
fsr-3773	53	28	difference	difference	NOUN
fsr-3773	53	29	between	between	ADP
fsr-3773	53	30	the	the	DET
fsr-3773	53	31	average	average	ADJ
fsr-3773	53	32	preand	preand	NOUN
fsr-3773	53	33	post	post	ADJ
fsr-3773	53	34	-	-	ADJ
fsr-3773	53	35	closing	closing	ADJ
fsr-3773	53	36	excess	excess	ADJ
fsr-3773	53	37	returns	return	NOUN
fsr-3773	53	38	.	.	PUNCT
fsr-3773	54	1	excess	excess	ADJ
fsr-3773	54	2	returns	return	NOUN
fsr-3773	54	3	for	for	ADP
fsr-3773	54	4	each	each	DET
fsr-3773	54	5	fund	fund	NOUN
fsr-3773	54	6	are	be	AUX
fsr-3773	54	7	estimated	estimate	VERB
fsr-3773	54	8	using	use	VERB
fsr-3773	54	9	the	the	DET
fsr-3773	54	10	following	follow	VERB
fsr-3773	54	11	regression	regression	NOUN
fsr-3773	54	12	equation	equation	NOUN
fsr-3773	54	13	,	,	PUNCT
fsr-3773	54	14	derived	derive	VERB
fsr-3773	54	15	from	from	ADP
fsr-3773	54	16	the	the	DET
fsr-3773	54	17	capital	capital	NOUN
fsr-3773	54	18	asset	asset	NOUN
fsr-3773	54	19	pricing	pricing	NOUN
fsr-3773	54	20	model	model	NOUN
fsr-3773	54	21	:	:	PUNCT
fsr-3773	54	22	(	(	PUNCT
fsr-3773	54	23	ri	ri	NOUN
fsr-3773	54	24	,	,	PUNCT
fsr-3773	54	25	r	r	NOUN
fsr-3773	54	26	rf	rf	NOUN
fsr-3773	54	27	,	,	PUNCT
fsr-3773	54	28	,	,	PUNCT
fsr-3773	54	29	)	)	PUNCT
fsr-3773	55	1	=	=	SYM
fsr-3773	55	2	a	a	X
fsr-3773	55	3	;	;	PUNCT
fsr-3773	55	4	+	+	NUM
fsr-3773	55	5	pi(rb	pi(rb	NOUN
fsr-3773	55	6	,	,	PUNCT
fsr-3773	55	7	r	r	NOUN
fsr-3773	55	8	rf	rf	NOUN
fsr-3773	55	9	,	,	PUNCT
fsr-3773	55	10	,	,	PUNCT
fsr-3773	55	11	)	)	PUNCT
fsr-3773	55	12	+	+	CCONJ
fsr-3773	55	13	ei	ei	PROPN
fsr-3773	55	14	,	,	PUNCT
fsr-3773	55	15	t	t	PROPN
fsr-3773	55	16	i	i	PROPN
fsr-3773	55	17	=	=	PROPN
fsr-3773	55	18	l,	l,	PROPN
fsr-3773	55	19	...	...	PUNCT
fsr-3773	55	20	,n	,n	PUNCT
fsr-3773	55	21	i=-m	i=-m	ADV
fsr-3773	55	22	,	,	PUNCT
fsr-3773	55	23	...	...	PUNCT
fsr-3773	55	24	1	1	NUM
fsr-3773	55	25	,	,	PUNCT
fsr-3773	55	26	pre	pre	ADJ
fsr-3773	55	27	-	-	ADJ
fsr-3773	55	28	closing	closing	ADJ
fsr-3773	55	29	,	,	PUNCT
fsr-3773	55	30	and	and	CCONJ
fsr-3773	55	31	t	t	PROPN
fsr-3773	55	32	=	=	SYM
fsr-3773	55	33	l	l	PROPN
fsr-3773	55	34	,	,	PUNCT
fsr-3773	55	35	...	...	PUNCT
fsr-3773	55	36	m	m	X
fsr-3773	55	37	,	,	PUNCT
fsr-3773	55	38	post	post	ADJ
fsr-3773	55	39	-	-	ADJ
fsr-3773	55	40	closing	closing	NOUN
fsr-3773	55	41	.	.	PUNCT
fsr-3773	56	1	where	where	SCONJ
fsr-3773	56	2	ri	ri	NOUN
fsr-3773	56	3	,	,	PUNCT
fsr-3773	56	4	,	,	PUNCT
fsr-3773	56	5	is	be	AUX
fsr-3773	56	6	the	the	DET
fsr-3773	56	7	total	total	ADJ
fsr-3773	56	8	rate	rate	NOUN
fsr-3773	56	9	of	of	ADP
fsr-3773	56	10	return	return	NOUN
fsr-3773	56	11	for	for	ADP
fsr-3773	56	12	fund	fund	NOUN
fsr-3773	56	13	i	i	PRON
fsr-3773	56	14	in	in	ADP
fsr-3773	56	15	month	month	PROPN
fsr-3773	56	16	t	t	PROPN
fsr-3773	56	17	,	,	PUNCT
fsr-3773	56	18	rf	rf	NOUN
fsr-3773	56	19	,	,	PUNCT
fsr-3773	56	20	is	be	AUX
fsr-3773	56	21	the	the	DET
fsr-3773	56	22	risk	risk	NOUN
fsr-3773	56	23	-	-	PUNCT
fsr-3773	56	24	free	free	ADJ
fsr-3773	56	25	rate	rate	NOUN
fsr-3773	56	26	of	of	ADP
fsr-3773	56	27	return	return	NOUN
fsr-3773	56	28	in	in	ADP
fsr-3773	56	29	month	month	NOUN
fsr-3773	56	30	t	t	PROPN
fsr-3773	56	31	,	,	PUNCT
fsr-3773	56	32	rb	rb	PROPN
fsr-3773	56	33	,	,	PUNCT
fsr-3773	56	34	,	,	PUNCT
fsr-3773	56	35	is	be	AUX
fsr-3773	56	36	the	the	DET
fsr-3773	56	37	benchmark	benchmark	NOUN
fsr-3773	56	38	portfolio	portfolio	NOUN
fsr-3773	56	39	return	return	VERB
fsr-3773	56	40	for	for	ADP
fsr-3773	56	41	month	month	NOUN
fsr-3773	56	42	t	t	PROPN
fsr-3773	56	43	,	,	PUNCT
fsr-3773	56	44	and	and	CCONJ
fsr-3773	56	45	pi	pi	NOUN
fsr-3773	56	46	measures	measure	NOUN
fsr-3773	56	47	the	the	DET
fsr-3773	56	48	risk	risk	NOUN
fsr-3773	56	49	of	of	ADP
fsr-3773	56	50	mutual	mutual	ADJ
fsr-3773	56	51	fund	fund	NOUN
fsr-3773	56	52	i	i	PRON
fsr-3773	56	53	relative	relative	ADJ
fsr-3773	56	54	to	to	ADP
fsr-3773	56	55	the	the	DET
fsr-3773	56	56	risk	risk	NOUN
fsr-3773	56	57	of	of	ADP
fsr-3773	56	58	the	the	DET
fsr-3773	56	59	chosen	choose	VERB
fsr-3773	56	60	benchmark	benchmark	NOUN
fsr-3773	56	61	portfolio	portfolio	NOUN
fsr-3773	56	62	.	.	PUNCT
fsr-3773	57	1	the	the	DET
fsr-3773	57	2	additional	additional	ADJ
fsr-3773	57	3	return	return	NOUN
fsr-3773	57	4	(	(	PUNCT
fsr-3773	57	5	or	or	CCONJ
fsr-3773	57	6	the	the	DET
fsr-3773	57	7	excess	excess	ADJ
fsr-3773	57	8	return	return	NOUN
fsr-3773	57	9	)	)	PUNCT
fsr-3773	57	10	on	on	ADP
fsr-3773	57	11	mutual	mutual	ADJ
fsr-3773	57	12	fund	fund	NOUN
fsr-3773	57	13	i	i	PRON
fsr-3773	57	14	after	after	ADP
fsr-3773	57	15	adjusting	adjust	VERB
fsr-3773	57	16	for	for	ADP
fsr-3773	57	17	risk	risk	NOUN
fsr-3773	57	18	is	be	AUX
fsr-3773	57	19	represented	represent	VERB
fsr-3773	57	20	by	by	ADP
fsr-3773	57	21	ai	ai	PROPN
fsr-3773	57	22	,	,	PUNCT
fsr-3773	57	23	commonly	commonly	ADV
fsr-3773	57	24	known	know	VERB
fsr-3773	57	25	as	as	ADP
fsr-3773	57	26	jensen	jensen	PROPN
fsr-3773	57	27	’s	’s	PART
fsr-3773	57	28	alpha	alpha	NOUN
fsr-3773	57	29	.	.	PUNCT
fsr-3773	58	1	an	an	DET
fsr-3773	58	2	cli	cli	NOUN
fsr-3773	58	3	that	that	PRON
fsr-3773	58	4	is	be	AUX
fsr-3773	58	5	statistically	statistically	ADV
fsr-3773	58	6	significantly	significantly	ADV
fsr-3773	58	7	different	different	ADJ
fsr-3773	58	8	than	than	ADP
fsr-3773	58	9	zero	zero	NUM
fsr-3773	58	10	is	be	AUX
fsr-3773	58	11	evidence	evidence	NOUN
fsr-3773	58	12	that	that	SCONJ
fsr-3773	58	13	mutual	mutual	ADJ
fsr-3773	58	14	fund	fund	NOUN
fsr-3773	58	15	i	i	PRON
fsr-3773	58	16	has	have	AUX
fsr-3773	58	17	demonstrated	demonstrate	VERB
fsr-3773	58	18	a	a	DET
fsr-3773	58	19	superior	superior	ADJ
fsr-3773	58	20	risk	risk	NOUN
fsr-3773	58	21	-	-	PUNCT
fsr-3773	58	22	adjusted	adjust	VERB
fsr-3773	58	23	investment	investment	NOUN
fsr-3773	58	24	performance	performance	NOUN
fsr-3773	58	25	.	.	PUNCT
fsr-3773	59	1	an	an	DET
fsr-3773	59	2	analysis	analysis	NOUN
fsr-3773	59	3	of	of	ADP
fsr-3773	59	4	the	the	DET
fsr-3773	59	5	differences	difference	NOUN
fsr-3773	59	6	between	between	ADP
fsr-3773	59	7	ctpre	ctpre	NOUN
fsr-3773	59	8	and	and	CCONJ
fsr-3773	59	9	c$,,,~	c$,,,~	NOUN
fsr-3773	59	10	is	be	AUX
fsr-3773	59	11	the	the	DET
fsr-3773	59	12	key	key	NOUN
fsr-3773	59	13	to	to	ADP
fsr-3773	59	14	determining	determine	VERB
fsr-3773	59	15	if	if	SCONJ
fsr-3773	59	16	impending	impending	ADJ
fsr-3773	59	17	closings	closing	NOUN
fsr-3773	59	18	are	be	AUX
fsr-3773	59	19	signals	signal	NOUN
fsr-3773	59	20	to	to	PART
fsr-3773	59	21	invest	invest	VERB
fsr-3773	59	22	in	in	ADP
fsr-3773	59	23	the	the	DET
fsr-3773	59	24	fund	fund	NOUN
fsr-3773	59	25	.	.	PUNCT
fsr-3773	60	1	if	if	SCONJ
fsr-3773	60	2	post	post	ADJ
fsr-3773	60	3	-	-	ADJ
fsr-3773	60	4	closing	closing	ADJ
fsr-3773	60	5	performance	performance	NOUN
fsr-3773	60	6	is	be	AUX
fsr-3773	60	7	expected	expect	VERB
fsr-3773	60	8	to	to	PART
fsr-3773	60	9	be	be	AUX
fsr-3773	60	10	at	at	ADV
fsr-3773	60	11	least	least	ADJ
fsr-3773	60	12	as	as	ADV
fsr-3773	60	13	good	good	ADJ
fsr-3773	60	14	as	as	ADP
fsr-3773	60	15	pre	pre	ADJ
fsr-3773	60	16	-	-	ADJ
fsr-3773	60	17	closing	closing	ADJ
fsr-3773	60	18	performance	performance	NOUN
fsr-3773	60	19	(	(	PUNCT
fsr-3773	60	20	a	a	PRON
fsr-3773	60	21	,	,	PUNCT
fsr-3773	60	22	,	,	PUNCT
fsr-3773	60	23	,	,	PUNCT
fsr-3773	60	24	2	2	NUM
fsr-3773	60	25	a	a	PRON
fsr-3773	60	26	,	,	PUNCT
fsr-3773	60	27	,	,	PUNCT
fsr-3773	60	28	)	)	PUNCT
fsr-3773	60	29	,	,	PUNCT
fsr-3773	60	30	closing	closing	NOUN
fsr-3773	60	31	should	should	AUX
fsr-3773	60	32	prompt	prompt	VERB
fsr-3773	60	33	investors	investor	NOUN
fsr-3773	60	34	to	to	PART
fsr-3773	60	35	rush	rush	VERB
fsr-3773	60	36	to	to	PART
fsr-3773	60	37	invest	invest	VERB
fsr-3773	60	38	in	in	ADP
fsr-3773	60	39	the	the	DET
fsr-3773	60	40	soon	soon	ADV
fsr-3773	60	41	-	-	PUNCT
fsr-3773	60	42	to	to	PART
fsr-3773	60	43	-	-	PUNCT
fsr-3773	60	44	be	be	AUX
fsr-3773	60	45	closed	close	VERB
fsr-3773	60	46	fund	fund	NOUN
fsr-3773	60	47	.	.	PUNCT
fsr-3773	61	1	alternatively	alternatively	ADV
fsr-3773	61	2	,	,	PUNCT
fsr-3773	61	3	if	if	SCONJ
fsr-3773	61	4	post	post	ADJ
fsr-3773	61	5	-	-	ADJ
fsr-3773	61	6	closing	closing	ADJ
fsr-3773	61	7	performance	performance	NOUN
fsr-3773	61	8	is	be	AUX
fsr-3773	61	9	expected	expect	VERB
fsr-3773	61	10	to	to	PART
fsr-3773	61	11	be	be	AUX
fsr-3773	61	12	worse	bad	ADJ
fsr-3773	61	13	than	than	ADP
fsr-3773	61	14	pre	pre	ADJ
fsr-3773	61	15	-	-	ADJ
fsr-3773	61	16	closing	closing	ADJ
fsr-3773	61	17	performance	performance	NOUN
fsr-3773	61	18	(	(	PUNCT
fsr-3773	61	19	a	a	PRON
fsr-3773	61	20	,	,	PUNCT
fsr-3773	61	21	,	,	PUNCT
fsr-3773	61	22	,	,	PUNCT
fsr-3773	61	23	<	<	X
fsr-3773	61	24	a	a	PROPN
fsr-3773	61	25	&	&	CCONJ
fsr-3773	61	26	,	,	PUNCT
fsr-3773	61	27	then	then	ADV
fsr-3773	61	28	closing	close	VERB
fsr-3773	61	29	should	should	AUX
fsr-3773	61	30	induce	induce	VERB
fsr-3773	61	31	investors	investor	NOUN
fsr-3773	61	32	to	to	PART
fsr-3773	61	33	withdraw	withdraw	VERB
fsr-3773	61	34	their	their	PRON
fsr-3773	61	35	investment	investment	NOUN
fsr-3773	61	36	.	.	PUNCT
fsr-3773	62	1	iii	iii	X
fsr-3773	62	2	.	.	PUNCT
fsr-3773	62	3	data	datum	NOUN
fsr-3773	62	4	we	we	PRON
fsr-3773	62	5	identified	identify	VERB
fsr-3773	62	6	all	all	DET
fsr-3773	62	7	mutual	mutual	ADJ
fsr-3773	62	8	funds	fund	NOUN
fsr-3773	62	9	“	"	PUNCT
fsr-3773	62	10	closed	close	VERB
fsr-3773	62	11	to	to	ADP
fsr-3773	62	12	new	new	ADJ
fsr-3773	62	13	investors	investor	NOUN
fsr-3773	62	14	,	,	PUNCT
fsr-3773	62	15	”	"	PUNCT
fsr-3773	62	16	as	as	SCONJ
fsr-3773	62	17	reported	report	VERB
fsr-3773	62	18	in	in	ADP
fsr-3773	62	19	barron’shpper	barron’shpp	ADJ
fsr-3773	62	20	mutual	mutual	ADJ
fsr-3773	62	21	fund	fund	NOUN
fsr-3773	62	22	quarterly	quarterly	ADV
fsr-3773	62	23	from	from	ADP
fsr-3773	62	24	the	the	DET
fsr-3773	62	25	second	second	ADJ
fsr-3773	62	26	quarter	quarter	NOUN
fsr-3773	62	27	of	of	ADP
fsr-3773	62	28	1985	1985	NUM
fsr-3773	62	29	to	to	ADP
fsr-3773	62	30	the	the	DET
fsr-3773	62	31	third	third	ADJ
fsr-3773	62	32	quarter	quarter	NOUN
fsr-3773	62	33	of	of	ADP
fsr-3773	62	34	1993	1993	NUM
fsr-3773	62	35	.	.	PUNCT
fsr-3773	63	1	a	a	DET
fsr-3773	63	2	total	total	NOUN
fsr-3773	63	3	of	of	ADP
fsr-3773	63	4	128	128	NUM
fsr-3773	63	5	different	different	ADJ
fsr-3773	63	6	fund	fund	NOUN
fsr-3773	63	7	names	name	NOUN
fsr-3773	63	8	were	be	AUX
fsr-3773	63	9	reported	report	VERB
fsr-3773	63	10	as	as	SCONJ
fsr-3773	63	11	closed	close	VERB
fsr-3773	63	12	at	at	ADP
fsr-3773	63	13	some	some	DET
fsr-3773	63	14	time	time	NOUN
fsr-3773	63	15	during	during	ADP
fsr-3773	63	16	that	that	DET
fsr-3773	63	17	period	period	NOUN
fsr-3773	63	18	.	.	PUNCT
fsr-3773	64	1	after	after	ADP
fsr-3773	64	2	accounting	account	VERB
fsr-3773	64	3	for	for	ADP
fsr-3773	64	4	terminations	termination	NOUN
fsr-3773	64	5	,	,	PUNCT
fsr-3773	64	6	mergers	merger	NOUN
fsr-3773	64	7	,	,	PUNCT
fsr-3773	64	8	and	and	CCONJ
fsr-3773	64	9	renaming	rename	VERB
fsr-3773	64	10	of	of	ADP
fsr-3773	64	11	funds	fund	NOUN
fsr-3773	64	12	,	,	PUNCT
fsr-3773	64	13	we	we	PRON
fsr-3773	64	14	identified	identify	VERB
fsr-3773	64	15	91	91	NUM
fsr-3773	64	16	funds	fund	NOUN
fsr-3773	64	17	for	for	ADP
fsr-3773	64	18	which	which	PRON
fsr-3773	64	19	return	return	NOUN
fsr-3773	64	20	data	datum	NOUN
fsr-3773	64	21	was	be	AUX
fsr-3773	64	22	available	available	ADJ
fsr-3773	64	23	on	on	ADP
fsr-3773	64	24	the	the	DET
fsr-3773	64	25	morningstar	morningstar	PROPN
fsr-3773	64	26	data	data	PROPN
fsr-3773	64	27	base	base	PROPN
fsr-3773	64	28	“	"	PUNCT
fsr-3773	64	29	ondisc	ondisc	NOUN
fsr-3773	64	30	”	"	PUNCT
fsr-3773	64	31	as	as	ADP
fsr-3773	64	32	of	of	ADP
fsr-3773	64	33	september	september	PROPN
fsr-3773	64	34	30,1993	30,1993	NUM
fsr-3773	64	35	.	.	PUNCT
fsr-3773	65	1	because	because	SCONJ
fsr-3773	65	2	the	the	DET
fsr-3773	65	3	ondisc	ondisc	PROPN
fsr-3773	65	4	data	data	PROPN
fsr-3773	65	5	base	base	PROPN
fsr-3773	65	6	only	only	ADV
fsr-3773	65	7	contains	contain	VERB
fsr-3773	65	8	data	datum	NOUN
fsr-3773	65	9	for	for	ADP
fsr-3773	65	10	funds	fund	NOUN
fsr-3773	65	11	in	in	ADP
fsr-3773	65	12	existence	existence	NOUN
fsr-3773	65	13	as	as	ADP
fsr-3773	65	14	of	of	ADP
fsr-3773	65	15	that	that	DET
fsr-3773	65	16	date	date	NOUN
fsr-3773	65	17	,	,	PUNCT
fsr-3773	65	18	any	any	DET
fsr-3773	65	19	fund	fund	NOUN
fsr-3773	65	20	that	that	PRON
fsr-3773	65	21	was	be	AUX
fsr-3773	65	22	terminated	terminate	VERB
fsr-3773	65	23	or	or	CCONJ
fsr-3773	65	24	merged	merge	VERB
fsr-3773	65	25	into	into	ADP
fsr-3773	65	26	another	another	DET
fsr-3773	65	27	fund	fund	NOUN
fsr-3773	65	28	subsequent	subsequent	ADJ
fsr-3773	65	29	to	to	ADP
fsr-3773	65	30	its	its	PRON
fsr-3773	65	31	closing	closing	NOUN
fsr-3773	65	32	is	be	AUX
fsr-3773	65	33	not	not	PART
fsr-3773	65	34	included	include	VERB
fsr-3773	65	35	in	in	ADP
fsr-3773	65	36	our	our	PRON
fsr-3773	65	37	sample	sample	NOUN
fsr-3773	65	38	.	.	PUNCT
fsr-3773	66	1	in	in	ADP
fsr-3773	66	2	addition	addition	NOUN
fsr-3773	66	3	,	,	PUNCT
fsr-3773	66	4	because	because	SCONJ
fsr-3773	66	5	the	the	DET
fsr-3773	66	6	lipper	lipper	NOUN
fsr-3773	66	7	listing	list	VERB
fsr-3773	66	8	is	be	AUX
fsr-3773	66	9	more	more	ADJ
fsr-3773	66	10	inclusive	inclusive	ADJ
fsr-3773	66	11	fund	fund	NOUN
fsr-3773	66	12	closings	closing	NOUN
fsr-3773	66	13	us	we	PRON
fsr-3773	66	14	a	a	DET
fsr-3773	66	15	signul	signul	NOUN
fsr-3773	66	16	to	to	ADP
fsr-3773	66	17	investors	investor	NOUN
fsr-3773	66	18	75	75	NUM
fsr-3773	66	19	than	than	ADP
fsr-3773	66	20	the	the	DET
fsr-3773	66	21	morningstar	morningstar	PROPN
fsr-3773	66	22	data	data	PROPN
fsr-3773	66	23	base	base	NOUN
fsr-3773	66	24	,	,	PUNCT
fsr-3773	66	25	some	some	DET
fsr-3773	66	26	current	current	ADJ
fsr-3773	66	27	funds	fund	NOUN
fsr-3773	66	28	noted	note	VERB
fsr-3773	66	29	in	in	ADP
fsr-3773	66	30	lipper	lipper	NOUN
fsr-3773	66	31	as	as	SCONJ
fsr-3773	66	32	closed	closed	ADJ
fsr-3773	66	33	were	be	AUX
fsr-3773	66	34	not	not	PART
fsr-3773	66	35	on	on	ADP
fsr-3773	66	36	the	the	DET
fsr-3773	66	37	momingstar	momingstar	NOUN
fsr-3773	66	38	data	datum	NOUN
fsr-3773	66	39	base	base	NOUN
fsr-3773	66	40	.	.	PUNCT
fsr-3773	67	1	whenever	whenever	SCONJ
fsr-3773	67	2	possible	possible	ADJ
fsr-3773	67	3	,	,	PUNCT
fsr-3773	67	4	the	the	DET
fsr-3773	67	5	actual	actual	ADJ
fsr-3773	67	6	closing	closing	NOUN
fsr-3773	67	7	date	date	NOUN
fsr-3773	67	8	was	be	AUX
fsr-3773	67	9	determined	determine	VERB
fsr-3773	67	10	by	by	ADP
fsr-3773	67	11	contacting	contact	VERB
fsr-3773	67	12	the	the	DET
fsr-3773	67	13	investor	investor	NOUN
fsr-3773	67	14	services	service	NOUN
fsr-3773	67	15	department	department	PROPN
fsr-3773	67	16	of	of	ADP
fsr-3773	67	17	each	each	DET
fsr-3773	67	18	fund.4	fund.4	NOUN
fsr-3773	67	19	funds	fund	NOUN
fsr-3773	67	20	close	close	ADJ
fsr-3773	67	21	to	to	ADP
fsr-3773	67	22	new	new	ADJ
fsr-3773	67	23	investors	investor	NOUN
fsr-3773	67	24	for	for	ADP
fsr-3773	67	25	a	a	DET
fsr-3773	67	26	number	number	NOUN
fsr-3773	67	27	of	of	ADP
fsr-3773	67	28	reasons	reason	NOUN
fsr-3773	67	29	.	.	PUNCT
fsr-3773	68	1	the	the	DET
fsr-3773	68	2	following	follow	VERB
fsr-3773	68	3	list	list	NOUN
fsr-3773	68	4	,	,	PUNCT
fsr-3773	68	5	although	although	SCONJ
fsr-3773	68	6	not	not	PART
fsr-3773	68	7	exhaustive	exhaustive	ADJ
fsr-3773	68	8	,	,	PUNCT
fsr-3773	68	9	encompasses	encompass	VERB
fsr-3773	68	10	most	most	ADJ
fsr-3773	68	11	of	of	ADP
fsr-3773	68	12	our	our	PRON
fsr-3773	68	13	sample	sample	NOUN
fsr-3773	68	14	.	.	PUNCT
fsr-3773	69	1	1	1	X
fsr-3773	69	2	.	.	X
fsr-3773	69	3	the	the	DET
fsr-3773	69	4	fund	fund	NOUN
fsr-3773	69	5	manager	manager	NOUN
fsr-3773	69	6	closes	close	VERB
fsr-3773	69	7	the	the	DET
fsr-3773	69	8	fund	fund	NOUN
fsr-3773	69	9	for	for	ADP
fsr-3773	69	10	strategic	strategic	ADJ
fsr-3773	69	11	reasons	reason	NOUN
fsr-3773	69	12	,	,	PUNCT
fsr-3773	69	13	usually	usually	ADV
fsr-3773	69	14	to	to	PART
fsr-3773	69	15	slow	slow	VERB
fsr-3773	69	16	down	down	ADP
fsr-3773	69	17	net	net	ADJ
fsr-3773	69	18	asset	asset	NOUN
fsr-3773	69	19	growth	growth	NOUN
fsr-3773	69	20	,	,	PUNCT
fsr-3773	69	21	as	as	SCONJ
fsr-3773	69	22	discussed	discuss	VERB
fsr-3773	69	23	above	above	ADV
fsr-3773	69	24	.	.	PUNCT
fsr-3773	70	1	2	2	X
fsr-3773	70	2	.	.	X
fsr-3773	70	3	the	the	DET
fsr-3773	70	4	fund	fund	NOUN
fsr-3773	70	5	is	be	AUX
fsr-3773	70	6	closed	close	VERB
fsr-3773	70	7	pending	pende	VERB
fsr-3773	70	8	a	a	DET
fsr-3773	70	9	merger	merger	NOUN
fsr-3773	70	10	or	or	CCONJ
fsr-3773	70	11	liquidation	liquidation	NOUN
fsr-3773	70	12	.	.	PUNCT
fsr-3773	71	1	in	in	ADP
fsr-3773	71	2	one	one	NUM
fsr-3773	71	3	case	case	NOUN
fsr-3773	71	4	,	,	PUNCT
fsr-3773	71	5	the	the	DET
fsr-3773	71	6	fund	fund	NOUN
fsr-3773	71	7	was	be	AUX
fsr-3773	71	8	closed	close	VERB
fsr-3773	71	9	briefly	briefly	ADV
fsr-3773	71	10	pending	pende	VERB
fsr-3773	71	11	a	a	DET
fsr-3773	71	12	proxy	proxy	ADJ
fsr-3773	71	13	vote	vote	NOUN
fsr-3773	71	14	of	of	ADP
fsr-3773	71	15	shareholders	shareholder	NOUN
fsr-3773	71	16	to	to	PART
fsr-3773	71	17	change	change	VERB
fsr-3773	71	18	the	the	DET
fsr-3773	71	19	investment	investment	NOUN
fsr-3773	71	20	objective	objective	NOUN
fsr-3773	71	21	.	.	PUNCT
fsr-3773	72	1	3	3	X
fsr-3773	72	2	.	.	X
fsr-3773	72	3	in	in	ADP
fsr-3773	72	4	at	at	ADV
fsr-3773	72	5	least	least	ADV
fsr-3773	72	6	one	one	NUM
fsr-3773	72	7	case	case	NOUN
fsr-3773	72	8	,	,	PUNCT
fsr-3773	72	9	the	the	DET
fsr-3773	72	10	fund	fund	NOUN
fsr-3773	72	11	originally	originally	ADV
fsr-3773	72	12	only	only	ADV
fsr-3773	72	13	issued	issue	VERB
fsr-3773	72	14	a	a	DET
fsr-3773	72	15	limited	limited	ADJ
fsr-3773	72	16	number	number	NOUN
fsr-3773	72	17	of	of	ADP
fsr-3773	72	18	shares	share	NOUN
fsr-3773	72	19	,	,	PUNCT
fsr-3773	72	20	which	which	PRON
fsr-3773	72	21	sold	sell	VERB
fsr-3773	72	22	out	out	ADP
fsr-3773	72	23	immediately	immediately	ADV
fsr-3773	72	24	.	.	PUNCT
fsr-3773	73	1	the	the	DET
fsr-3773	73	2	fund	fund	NOUN
fsr-3773	73	3	then	then	ADV
fsr-3773	73	4	only	only	ADV
fsr-3773	73	5	accepted	accept	VERB
fsr-3773	73	6	new	new	ADJ
fsr-3773	73	7	investment	investment	NOUN
fsr-3773	73	8	when	when	SCONJ
fsr-3773	73	9	existing	existing	ADJ
fsr-3773	73	10	shareholders	shareholder	NOUN
fsr-3773	73	11	sold	sell	VERB
fsr-3773	73	12	back	back	ADV
fsr-3773	73	13	to	to	ADP
fsr-3773	73	14	the	the	DET
fsr-3773	73	15	fund	fund	NOUN
fsr-3773	73	16	.	.	PUNCT
fsr-3773	74	1	in	in	ADP
fsr-3773	74	2	this	this	DET
fsr-3773	74	3	case	case	NOUN
fsr-3773	74	4	,	,	PUNCT
fsr-3773	74	5	the	the	DET
fsr-3773	74	6	fund	fund	NOUN
fsr-3773	74	7	was	be	AUX
fsr-3773	74	8	never	never	ADV
fsr-3773	74	9	really	really	ADV
fsr-3773	74	10	“	"	PUNCT
fsr-3773	74	11	open	open	ADJ
fsr-3773	74	12	.	.	PUNCT
fsr-3773	74	13	”	"	PUNCT
fsr-3773	75	1	4	4	NUM
fsr-3773	75	2	.	.	PUNCT
fsr-3773	75	3	funds	fund	NOUN
fsr-3773	75	4	are	be	AUX
fsr-3773	75	5	sometimes	sometimes	ADV
fsr-3773	75	6	closed	close	VERB
fsr-3773	75	7	for	for	ADP
fsr-3773	75	8	legal	legal	ADJ
fsr-3773	75	9	or	or	CCONJ
fsr-3773	75	10	regulatory	regulatory	ADJ
fsr-3773	75	11	reasons	reason	NOUN
fsr-3773	75	12	.	.	PUNCT
fsr-3773	76	1	four	four	NUM
fsr-3773	76	2	steadman	steadman	NOUN
fsr-3773	76	3	funds	fund	NOUN
fsr-3773	76	4	were	be	AUX
fsr-3773	76	5	closed	close	VERB
fsr-3773	76	6	to	to	ADP
fsr-3773	76	7	new	new	ADJ
fsr-3773	76	8	investors	investor	NOUN
fsr-3773	76	9	in	in	ADP
fsr-3773	76	10	1989	1989	NUM
fsr-3773	76	11	on	on	ADP
fsr-3773	76	12	the	the	DET
fsr-3773	76	13	order	order	NOUN
fsr-3773	76	14	of	of	ADP
fsr-3773	76	15	the	the	DET
fsr-3773	76	16	securities	securities	PROPN
fsr-3773	76	17	and	and	CCONJ
fsr-3773	76	18	exchange	exchange	PROPN
fsr-3773	76	19	commission	commission	NOUN
fsr-3773	76	20	in	in	ADP
fsr-3773	76	21	a	a	DET
fsr-3773	76	22	dispute	dispute	NOUN
fsr-3773	76	23	over	over	ADP
fsr-3773	76	24	failure	failure	NOUN
fsr-3773	76	25	to	to	PART
fsr-3773	76	26	register	register	VERB
fsr-3773	76	27	funds	fund	NOUN
fsr-3773	76	28	in	in	ADP
fsr-3773	76	29	some	some	DET
fsr-3773	76	30	states	state	NOUN
fsr-3773	76	31	where	where	SCONJ
fsr-3773	76	32	the	the	DET
fsr-3773	76	33	funds	fund	NOUN
fsr-3773	76	34	were	be	AUX
fsr-3773	76	35	sold	sell	VERB
fsr-3773	76	36	.	.	PUNCT
fsr-3773	77	1	two	two	NUM
fsr-3773	77	2	first	first	ADJ
fsr-3773	77	3	investor	investor	NOUN
fsr-3773	77	4	funds	fund	NOUN
fsr-3773	77	5	were	be	AUX
fsr-3773	77	6	closed	close	VERB
fsr-3773	77	7	to	to	ADP
fsr-3773	77	8	new	new	ADJ
fsr-3773	77	9	investors	investor	NOUN
fsr-3773	77	10	in	in	ADP
fsr-3773	77	11	1990	1990	NUM
fsr-3773	77	12	after	after	SCONJ
fsr-3773	77	13	state	state	NOUN
fsr-3773	77	14	officials	official	NOUN
fsr-3773	77	15	in	in	ADP
fsr-3773	77	16	two	two	NUM
fsr-3773	77	17	states	state	NOUN
fsr-3773	77	18	filed	file	VERB
fsr-3773	77	19	legal	legal	ADJ
fsr-3773	77	20	complaints	complaint	NOUN
fsr-3773	77	21	against	against	ADP
fsr-3773	77	22	the	the	DET
fsr-3773	77	23	company	company	NOUN
fsr-3773	77	24	.	.	PUNCT
fsr-3773	78	1	as	as	SCONJ
fsr-3773	78	2	we	we	PRON
fsr-3773	78	3	are	be	AUX
fsr-3773	78	4	interested	interested	ADJ
fsr-3773	78	5	in	in	ADP
fsr-3773	78	6	the	the	DET
fsr-3773	78	7	effect	effect	NOUN
fsr-3773	78	8	on	on	ADP
fsr-3773	78	9	performance	performance	NOUN
fsr-3773	78	10	of	of	ADP
fsr-3773	78	11	closing	close	VERB
fsr-3773	78	12	a	a	DET
fsr-3773	78	13	fund	fund	NOUN
fsr-3773	78	14	that	that	PRON
fsr-3773	78	15	is	be	AUX
fsr-3773	78	16	growing	grow	VERB
fsr-3773	78	17	too	too	ADV
fsr-3773	78	18	quickly	quickly	ADV
fsr-3773	78	19	,	,	PUNCT
fsr-3773	78	20	we	we	PRON
fsr-3773	78	21	only	only	ADV
fsr-3773	78	22	included	include	VERB
fsr-3773	78	23	closings	closing	NOUN
fsr-3773	78	24	that	that	PRON
fsr-3773	78	25	we	we	PRON
fsr-3773	78	26	determine	determine	VERB
fsr-3773	78	27	to	to	PART
fsr-3773	78	28	be	be	AUX
fsr-3773	78	29	the	the	DET
fsr-3773	78	30	result	result	NOUN
fsr-3773	78	31	of	of	ADP
fsr-3773	78	32	a	a	DET
fsr-3773	78	33	strategic	strategic	ADJ
fsr-3773	78	34	decision	decision	NOUN
fsr-3773	78	35	related	relate	VERB
fsr-3773	78	36	to	to	ADP
fsr-3773	78	37	net	net	ADJ
fsr-3773	78	38	asset	asset	NOUN
fsr-3773	78	39	growth	growth	NOUN
fsr-3773	78	40	.	.	PUNCT
fsr-3773	79	1	clearly	clearly	ADV
fsr-3773	79	2	,	,	PUNCT
fsr-3773	79	3	our	our	PRON
fsr-3773	79	4	sample	sample	NOUN
fsr-3773	79	5	of	of	ADP
fsr-3773	79	6	funds	fund	NOUN
fsr-3773	79	7	has	have	VERB
fsr-3773	79	8	a	a	DET
fsr-3773	79	9	“	"	PUNCT
fsr-3773	79	10	survivorship	survivorship	NOUN
fsr-3773	79	11	effect	effect	NOUN
fsr-3773	79	12	”	"	PUNCT
fsr-3773	79	13	because	because	SCONJ
fsr-3773	79	14	we	we	PRON
fsr-3773	79	15	only	only	ADV
fsr-3773	79	16	include	include	VERB
fsr-3773	79	17	funds	fund	NOUN
fsr-3773	79	18	still	still	ADV
fsr-3773	79	19	in	in	ADP
fsr-3773	79	20	existence	existence	NOUN
fsr-3773	79	21	as	as	ADP
fsr-3773	79	22	of	of	ADP
fsr-3773	79	23	september	september	PROPN
fsr-3773	79	24	30	30	NUM
fsr-3773	79	25	,	,	PUNCT
fsr-3773	79	26	1993	1993	NUM
fsr-3773	79	27	.	.	PUNCT
fsr-3773	80	1	however	however	ADV
fsr-3773	80	2	,	,	PUNCT
fsr-3773	80	3	the	the	DET
fsr-3773	80	4	bias	bias	NOUN
fsr-3773	80	5	this	this	PRON
fsr-3773	80	6	might	might	AUX
fsr-3773	80	7	introduce	introduce	VERB
fsr-3773	80	8	into	into	ADP
fsr-3773	80	9	the	the	DET
fsr-3773	80	10	analysis	analysis	NOUN
fsr-3773	80	11	does	do	AUX
fsr-3773	80	12	not	not	PART
fsr-3773	80	13	affect	affect	VERB
fsr-3773	80	14	the	the	DET
fsr-3773	80	15	interpretation	interpretation	NOUN
fsr-3773	80	16	of	of	ADP
fsr-3773	80	17	our	our	PRON
fsr-3773	80	18	results	result	NOUN
fsr-3773	80	19	.	.	PUNCT
fsr-3773	81	1	first	first	ADV
fsr-3773	81	2	,	,	PUNCT
fsr-3773	81	3	we	we	PRON
fsr-3773	81	4	are	be	AUX
fsr-3773	81	5	interested	interested	ADJ
fsr-3773	81	6	in	in	ADP
fsr-3773	81	7	funds	fund	NOUN
fsr-3773	81	8	that	that	PRON
fsr-3773	81	9	close	close	ADJ
fsr-3773	81	10	because	because	SCONJ
fsr-3773	81	11	of	of	ADP
fsr-3773	81	12	above	above	ADP
fsr-3773	81	13	-	-	PUNCT
fsr-3773	81	14	average	average	NOUN
fsr-3773	81	15	performance	performance	NOUN
fsr-3773	81	16	,	,	PUNCT
fsr-3773	81	17	and	and	CCONJ
fsr-3773	81	18	it	it	PRON
fsr-3773	81	19	is	be	AUX
fsr-3773	81	20	unlikely	unlikely	ADJ
fsr-3773	81	21	that	that	SCONJ
fsr-3773	81	22	such	such	DET
fsr-3773	81	23	a	a	DET
fsr-3773	81	24	fund	fund	NOUN
fsr-3773	81	25	would	would	AUX
fsr-3773	81	26	subs	subs	VERB
fsr-3773	81	27	~	~	PUNCT
fsr-3773	81	28	uently	uently	ADV
fsr-3773	81	29	be	be	AUX
fsr-3773	81	30	liquidate	liquidate	ADJ
fsr-3773	81	31	because	because	SCONJ
fsr-3773	81	32	of	of	ADP
fsr-3773	81	33	poor	poor	ADJ
fsr-3773	81	34	perfo	perfo	ADJ
fsr-3773	81	35	~	~	NOUN
fsr-3773	81	36	ance	ance	NOUN
fsr-3773	81	37	.	.	PUNCT
fsr-3773	82	1	second	second	ADJ
fsr-3773	82	2	,	,	PUNCT
fsr-3773	82	3	we	we	PRON
fsr-3773	82	4	find	find	VERB
fsr-3773	82	5	that	that	SCONJ
fsr-3773	82	6	investment	investment	NOUN
fsr-3773	82	7	performance	performance	NOUN
fsr-3773	82	8	of	of	ADP
fsr-3773	82	9	our	our	PRON
fsr-3773	82	10	sample	sample	NOUN
fsr-3773	82	11	of	of	ADP
fsr-3773	82	12	funds	fund	NOUN
fsr-3773	82	13	drops	drop	VERB
fsr-3773	82	14	significantly	significantly	ADV
fsr-3773	82	15	after	after	ADP
fsr-3773	82	16	the	the	DET
fsr-3773	82	17	closing	closing	NOUN
fsr-3773	82	18	.	.	PUNCT
fsr-3773	83	1	such	such	DET
fsr-3773	83	2	an	an	DET
fsr-3773	83	3	effect	effect	NOUN
fsr-3773	83	4	would	would	AUX
fsr-3773	83	5	be	be	AUX
fsr-3773	83	6	exacerbated	exacerbate	VERB
fsr-3773	83	7	by	by	ADP
fsr-3773	83	8	any	any	DET
fsr-3773	83	9	poorly	poorly	ADV
fsr-3773	83	10	performing	perform	VERB
fsr-3773	83	11	funds	fund	NOUN
fsr-3773	83	12	that	that	PRON
fsr-3773	83	13	were	be	AUX
fsr-3773	83	14	subsequently	subsequently	ADV
fsr-3773	83	15	liquidated	liquidate	VERB
fsr-3773	83	16	.	.	PUNCT
fsr-3773	84	1	we	we	PRON
fsr-3773	84	2	were	be	AUX
fsr-3773	84	3	able	able	ADJ
fsr-3773	84	4	to	to	PART
fsr-3773	84	5	identify	identify	VERB
fsr-3773	84	6	17	17	NUM
fsr-3773	84	7	funds	fund	NOUN
fsr-3773	84	8	that	that	PRON
fsr-3773	84	9	were	be	AUX
fsr-3773	84	10	closed	close	VERB
fsr-3773	84	11	pending	pende	VERB
fsr-3773	84	12	liquidation	liquidation	NOUN
fsr-3773	84	13	or	or	CCONJ
fsr-3773	84	14	merger	merger	NOUN
fsr-3773	84	15	.	.	PUNCT
fsr-3773	85	1	these	these	DET
fsr-3773	85	2	observations	observation	NOUN
fsr-3773	85	3	were	be	AUX
fsr-3773	85	4	dropped	drop	VERB
fsr-3773	85	5	from	from	ADP
fsr-3773	85	6	our	our	PRON
fsr-3773	85	7	final	final	ADJ
fsr-3773	85	8	sample	sample	NOUN
fsr-3773	85	9	because	because	SCONJ
fsr-3773	85	10	they	they	PRON
fsr-3773	85	11	do	do	AUX
fsr-3773	85	12	not	not	PART
fsr-3773	85	13	appear	appear	VERB
fsr-3773	85	14	on	on	ADP
fsr-3773	85	15	the	the	DET
fsr-3773	85	16	momingst~	momingst~	PROPN
fsr-3773	85	17	data	datum	NOUN
fsr-3773	85	18	base	base	NOUN
fsr-3773	85	19	.	.	PUNCT
fsr-3773	86	1	selecting	select	VERB
fsr-3773	86	2	the	the	DET
fsr-3773	86	3	appropriate	appropriate	ADJ
fsr-3773	86	4	length	length	NOUN
fsr-3773	86	5	of	of	ADP
fsr-3773	86	6	time	time	NOUN
fsr-3773	86	7	for	for	ADP
fsr-3773	86	8	the	the	DET
fsr-3773	86	9	preand	preand	NOUN
fsr-3773	86	10	post	post	ADJ
fsr-3773	86	11	-	-	ADJ
fsr-3773	86	12	closing	closing	ADJ
fsr-3773	86	13	periods	period	NOUN
fsr-3773	86	14	involves	involve	VERB
fsr-3773	86	15	a	a	DET
fsr-3773	86	16	tradeoff	tradeoff	NOUN
fsr-3773	86	17	.	.	PUNCT
fsr-3773	87	1	because	because	SCONJ
fsr-3773	87	2	the	the	DET
fsr-3773	87	3	number	number	NOUN
fsr-3773	87	4	of	of	ADP
fsr-3773	87	5	mutual	mutual	ADJ
fsr-3773	87	6	fund	fund	NOUN
fsr-3773	87	7	closings	closing	NOUN
fsr-3773	87	8	has	have	AUX
fsr-3773	87	9	increased	increase	VERB
fsr-3773	87	10	significantly	significantly	ADV
fsr-3773	87	11	in	in	ADP
fsr-3773	87	12	recent	recent	ADJ
fsr-3773	87	13	years	year	NOUN
fsr-3773	87	14	,	,	PUNCT
fsr-3773	87	15	many	many	ADJ
fsr-3773	87	16	of	of	ADP
fsr-3773	87	17	the	the	DET
fsr-3773	87	18	91	91	NUM
fsr-3773	87	19	funds	fund	NOUN
fsr-3773	87	20	for	for	ADP
fsr-3773	87	21	which	which	PRON
fsr-3773	87	22	data	datum	NOUN
fsr-3773	87	23	were	be	AUX
fsr-3773	87	24	available	available	ADJ
fsr-3773	87	25	were	be	AUX
fsr-3773	87	26	closed	close	VERB
fsr-3773	87	27	between	between	ADP
fsr-3773	87	28	september	september	PROPN
fsr-3773	87	29	199	199	NUM
fsr-3773	87	30	1	1	NUM
fsr-3773	87	31	and	and	CCONJ
fsr-3773	87	32	september	september	PROPN
fsr-3773	87	33	1993	1993	NUM
fsr-3773	87	34	.	.	PUNCT
fsr-3773	88	1	reliable	reliable	ADJ
fsr-3773	88	2	estimation	estimation	NOUN
fsr-3773	88	3	of	of	ADP
fsr-3773	88	4	g	g	NOUN
fsr-3773	88	5	,	,	PUNCT
fsr-3773	88	6	,	,	PUNCT
fsr-3773	88	7	,	,	PUNCT
fsr-3773	88	8	is	be	AUX
fsr-3773	88	9	difficult	difficult	ADJ
fsr-3773	88	10	because	because	SCONJ
fsr-3773	88	11	return	return	VERB
fsr-3773	88	12	data	datum	NOUN
fsr-3773	88	13	for	for	ADP
fsr-3773	88	14	post	post	ADJ
fsr-3773	88	15	-	-	ADJ
fsr-3773	88	16	closing	closing	ADJ
fsr-3773	88	17	periods	period	NOUN
fsr-3773	88	18	is	be	AUX
fsr-3773	88	19	sparse	sparse	ADJ
fsr-3773	88	20	for	for	ADP
fsr-3773	88	21	these	these	DET
fsr-3773	88	22	recently	recently	ADV
fsr-3773	88	23	closed	close	VERB
fsr-3773	88	24	funds	fund	NOUN
fsr-3773	88	25	.	.	PUNCT
fsr-3773	89	1	in	in	ADP
fsr-3773	89	2	addition	addition	NOUN
fsr-3773	89	3	,	,	PUNCT
fsr-3773	89	4	some	some	DET
fsr-3773	89	5	funds	fund	NOUN
fsr-3773	89	6	closed	close	VERB
fsr-3773	89	7	quickly	quickly	ADV
fsr-3773	89	8	after	after	SCONJ
fsr-3773	89	9	shares	share	NOUN
fsr-3773	89	10	were	be	AUX
fsr-3773	89	11	issued	issue	VERB
fsr-3773	89	12	and	and	CCONJ
fsr-3773	89	13	had	have	VERB
fsr-3773	89	14	only	only	ADV
fsr-3773	89	15	a	a	DET
fsr-3773	89	16	brief	brief	ADJ
fsr-3773	89	17	track	track	NOUN
fsr-3773	89	18	record	record	NOUN
fsr-3773	89	19	of	of	ADP
fsr-3773	89	20	pre	pre	ADJ
fsr-3773	89	21	-	-	ADJ
fsr-3773	89	22	closing	closing	ADJ
fsr-3773	89	23	return	return	NOUN
fsr-3773	89	24	performance	performance	NOUN
fsr-3773	89	25	.	.	PUNCT
fsr-3773	90	1	therefore	therefore	ADV
fsr-3773	90	2	,	,	PUNCT
fsr-3773	90	3	the	the	DET
fsr-3773	90	4	tradeoff	tradeoff	NOUN
fsr-3773	90	5	in	in	ADP
fsr-3773	90	6	selecting	select	VERB
fsr-3773	90	7	an	an	DET
fsr-3773	90	8	appropriate	appropriate	ADJ
fsr-3773	90	9	sample	sample	NOUN
fsr-3773	90	10	period	period	NOUN
fsr-3773	90	11	involves	involve	VERB
fsr-3773	90	12	the	the	DET
fsr-3773	90	13	size	size	NOUN
fsr-3773	90	14	of	of	ADP
fsr-3773	90	15	the	the	DET
fsr-3773	90	16	closed	close	VERB
fsr-3773	90	17	fund	fund	NOUN
fsr-3773	90	18	sample	sample	NOUN
fsr-3773	90	19	versus	versus	ADP
fsr-3773	90	20	the	the	DET
fsr-3773	90	21	number	number	NOUN
fsr-3773	90	22	of	of	ADP
fsr-3773	90	23	observations	observation	NOUN
fsr-3773	90	24	available	available	ADJ
fsr-3773	90	25	for	for	ADP
fsr-3773	90	26	each	each	DET
fsr-3773	90	27	fund	fund	NOUN
fsr-3773	90	28	in	in	ADP
fsr-3773	90	29	the	the	DET
fsr-3773	90	30	preand	preand	NOUN
fsr-3773	90	31	post	post	ADJ
fsr-3773	90	32	-	-	ADJ
fsr-3773	90	33	closing	closing	ADJ
fsr-3773	90	34	periods	period	NOUN
fsr-3773	90	35	.	.	PUNCT
fsr-3773	91	1	ultimately	ultimately	ADV
fsr-3773	91	2	,	,	PUNCT
fsr-3773	91	3	we	we	PRON
fsr-3773	91	4	identified	identify	VERB
fsr-3773	91	5	2.5	2.5	NUM
fsr-3773	91	6	funds	fund	NOUN
fsr-3773	91	7	(	(	PUNCT
fsr-3773	91	8	20	20	NUM
fsr-3773	91	9	equity	equity	NOUN
fsr-3773	91	10	funds	fund	NOUN
fsr-3773	91	11	and	and	CCONJ
fsr-3773	91	12	5	5	NUM
fsr-3773	91	13	hybrid	hybrid	ADJ
fsr-3773	91	14	fund	fund	NOUN
fsr-3773	91	15	#	#	NOUN
fsr-3773	91	16	for	for	ADP
fsr-3773	91	17	which	which	PRON
fsr-3773	91	18	24	24	NUM
fsr-3773	91	19	months	month	NOUN
fsr-3773	91	20	of	of	ADP
fsr-3773	91	21	return	return	NOUN
fsr-3773	91	22	data	datum	NOUN
fsr-3773	91	23	were	be	AUX
fsr-3773	91	24	available	available	ADJ
fsr-3773	91	25	on	on	ADP
fsr-3773	91	26	either	either	DET
fsr-3773	91	27	side	side	NOUN
fsr-3773	91	28	of	of	ADP
fsr-3773	91	29	the	the	DET
fsr-3773	91	30	closing	closing	NOUN
fsr-3773	91	31	month	month	NOUN
fsr-3773	91	32	.	.	PUNCT
fsr-3773	92	1	the	the	DET
fsr-3773	92	2	closing	closing	NOUN
fsr-3773	92	3	dates	date	NOUN
fsr-3773	92	4	range	range	VERB
fsr-3773	92	5	from	from	ADP
fsr-3773	92	6	december	december	PROPN
fsr-3773	92	7	1982	1982	NUM
fsr-3773	92	8	to	to	ADP
fsr-3773	92	9	august	august	PROPN
fsr-3773	92	10	1991	1991	NUM
fsr-3773	92	11	.	.	PUNCT
fsr-3773	93	1	table	table	NOUN
fsr-3773	93	2	1	1	NUM
fsr-3773	93	3	is	be	AUX
fsr-3773	93	4	a	a	DET
fsr-3773	93	5	breakdown	breakdown	NOUN
fsr-3773	93	6	of	of	ADP
fsr-3773	93	7	the	the	DET
fsr-3773	93	8	funds	fund	NOUN
fsr-3773	93	9	in	in	ADP
fsr-3773	93	10	the	the	DET
fsr-3773	93	11	sample	sample	NOUN
fsr-3773	93	12	by	by	ADP
fsr-3773	93	13	inves	inve	NOUN
fsr-3773	93	14	~	~	X
fsr-3773	93	15	ent	ent	NOUN
fsr-3773	93	16	objective	objective	NOUN
fsr-3773	93	17	as	as	SCONJ
fsr-3773	93	18	reported	report	VERB
fsr-3773	93	19	by	by	ADP
fsr-3773	93	20	~orningstar	~orningstar	NOUN
fsr-3773	93	21	.	.	PUNCT
fsr-3773	93	22	results	result	NOUN
fsr-3773	93	23	for	for	ADP
fsr-3773	93	24	two	two	NUM
fsr-3773	93	25	benchmark	benchmark	ADJ
fsr-3773	93	26	portfolios	portfolio	NOUN
fsr-3773	93	27	&	&	CCONJ
fsr-3773	93	28	,	,	PUNCT
fsr-3773	93	29	in	in	ADP
fsr-3773	93	30	equation	equation	NOUN
fsr-3773	93	31	(	(	PUNCT
fsr-3773	93	32	1	1	NUM
fsr-3773	93	33	)	)	PUNCT
fsr-3773	93	34	)	)	PUNCT
fsr-3773	93	35	are	be	AUX
fsr-3773	93	36	reported	report	VERB
fsr-3773	93	37	:	:	PUNCT
fsr-3773	93	38	first	first	ADV
fsr-3773	93	39	,	,	PUNCT
fsr-3773	93	40	the	the	DET
fsr-3773	93	41	s&p	s&p	PROPN
fsr-3773	93	42	500	500	NUM
fsr-3773	93	43	index	index	NOUN
fsr-3773	93	44	for	for	ADP
fsr-3773	93	45	equity	equity	NOUN
fsr-3773	93	46	funds	fund	NOUN
fsr-3773	93	47	or	or	CCONJ
fsr-3773	93	48	an	an	DET
fsr-3773	93	49	index	index	NOUN
fsr-3773	93	50	consisting	consist	VERB
fsr-3773	93	51	of	of	ADP
fsr-3773	93	52	50	50	NUM
fsr-3773	93	53	%	%	NOUN
fsr-3773	93	54	of	of	ADP
fsr-3773	93	55	the	the	DET
fsr-3773	93	56	return	return	NOUN
fsr-3773	93	57	on	on	ADP
fsr-3773	93	58	the	the	DET
fsr-3773	93	59	lehman	lehman	PROPN
fsr-3773	93	60	brothers	brother	NOUN
fsr-3773	93	61	aggregate	aggregate	ADJ
fsr-3773	93	62	bond	bond	NOUN
fsr-3773	93	63	index	index	NOUN
fsr-3773	93	64	and	and	CCONJ
fsr-3773	93	65	50	50	NUM
fsr-3773	93	66	%	%	NOUN
fsr-3773	93	67	of	of	ADP
fsr-3773	93	68	the	the	DET
fsr-3773	93	69	s&p	s&p	PROPN
fsr-3773	93	70	500	500	NUM
fsr-3773	93	71	for	for	ADP
fsr-3773	93	72	hybrid	hybrid	ADJ
fsr-3773	93	73	funds	fund	NOUN
fsr-3773	93	74	;	;	PUNCT
fsr-3773	93	75	and	and	CCONJ
fsr-3773	93	76	second	second	ADV
fsr-3773	93	77	,	,	PUNCT
fsr-3773	93	78	the	the	DET
fsr-3773	93	79	76	76	NUM
fsr-3773	93	80	financial	financial	ADJ
fsr-3773	93	81	services	service	NOUN
fsr-3773	93	82	review	review	NOUN
fsr-3773	93	83	4(2	4(2	NUM
fsr-3773	93	84	)	)	PUNCT
fsr-3773	93	85	1995	1995	NUM
fsr-3773	93	86	table	table	NOUN
fsr-3773	93	87	1	1	NUM
fsr-3773	93	88	a	a	DET
fsr-3773	93	89	breakdown	breakdown	NOUN
fsr-3773	93	90	of	of	ADP
fsr-3773	93	91	the	the	DET
fsr-3773	93	92	25	25	NUM
fsr-3773	93	93	funds	fund	NOUN
fsr-3773	93	94	in	in	ADP
fsr-3773	93	95	the	the	DET
fsr-3773	93	96	sample	sample	NOUN
fsr-3773	93	97	by	by	ADP
fsr-3773	93	98	the	the	DET
fsr-3773	93	99	investment	investment	NOUN
fsr-3773	93	100	objective	objective	NOUN
fsr-3773	93	101	of	of	ADP
fsr-3773	93	102	each	each	DET
fsr-3773	93	103	fund	fund	NOUN
fsr-3773	93	104	as	as	SCONJ
fsr-3773	93	105	categorized	categorize	VERB
fsr-3773	93	106	by	by	ADP
fsr-3773	93	107	morningstar	morningstar	NOUN
fsr-3773	93	108	type	type	PROPN
fsr-3773	93	109	investment	investment	NOUN
fsr-3773	93	110	objective	objective	ADJ
fsr-3773	93	111	number	number	NOUN
fsr-3773	93	112	total	total	NOUN
fsr-3773	93	113	equity	equity	NOUN
fsr-3773	93	114	aggressive	aggressive	ADJ
fsr-3773	93	115	growth	growth	NOUN
fsr-3773	93	116	1	1	NUM
fsr-3773	93	117	growth	growth	NOUN
fsr-3773	93	118	6	6	NUM
fsr-3773	93	119	growth	growth	NOUN
fsr-3773	93	120	-	-	PUNCT
fsr-3773	93	121	income	income	NOUN
fsr-3773	93	122	4	4	NUM
fsr-3773	93	123	small	small	ADJ
fsr-3773	93	124	company	company	NOUN
fsr-3773	93	125	6	6	NUM
fsr-3773	93	126	specialty	specialty	NOUN
fsr-3773	93	127	3	3	NUM
fsr-3773	93	128	total	total	NOUN
fsr-3773	93	129	equity	equity	NOUN
fsr-3773	93	130	20	20	NUM
fsr-3773	93	131	hybrid	hybrid	NOUN
fsr-3773	93	132	balanced	balanced	ADJ
fsr-3773	93	133	1	1	NUM
fsr-3773	93	134	corporate	corporate	ADJ
fsr-3773	93	135	high	high	ADJ
fsr-3773	93	136	yield	yield	NOUN
fsr-3773	93	137	3	3	NUM
fsr-3773	93	138	income	income	NOUN
fsr-3773	93	139	1	1	NUM
fsr-3773	93	140	total	total	NOUN
fsr-3773	93	141	hybrid	hybrid	ADJ
fsr-3773	93	142	5	5	NUM
fsr-3773	93	143	table	table	NOUN
fsr-3773	93	144	2	2	NUM
fsr-3773	93	145	summary	summary	NOUN
fsr-3773	93	146	statistics	statistic	NOUN
fsr-3773	93	147	for	for	ADP
fsr-3773	93	148	the	the	DET
fsr-3773	93	149	monthly	monthly	ADJ
fsr-3773	93	150	average	average	ADJ
fsr-3773	93	151	excess	excess	ADJ
fsr-3773	93	152	returns	return	NOUN
fsr-3773	93	153	before	before	ADP
fsr-3773	93	154	and	and	CCONJ
fsr-3773	93	155	after	after	SCONJ
fsr-3773	93	156	closing	closing	NOUN
fsr-3773	93	157	statistics	statistic	NOUN
fsr-3773	93	158	are	be	AUX
fsr-3773	93	159	estimated	estimate	VERB
fsr-3773	93	160	using	use	VERB
fsr-3773	93	161	jensen	jensen	PROPN
fsr-3773	93	162	’s	’s	PART
fsr-3773	93	163	alpha	alpha	NOUN
fsr-3773	93	164	using	use	VERB
fsr-3773	93	165	two	two	NUM
fsr-3773	93	166	types	type	NOUN
fsr-3773	93	167	of	of	ADP
fsr-3773	93	168	benchmark	benchmark	NOUN
fsr-3773	93	169	portfolios	portfolio	NOUN
fsr-3773	93	170	,	,	PUNCT
fsr-3773	93	171	a	a	DET
fsr-3773	93	172	market	market	NOUN
fsr-3773	93	173	portfolio	portfolio	NOUN
fsr-3773	93	174	(	(	PUNCT
fsr-3773	93	175	panel	panel	NOUN
fsr-3773	93	176	a	a	NOUN
fsr-3773	93	177	)	)	PUNCT
fsr-3773	93	178	and	and	CCONJ
fsr-3773	93	179	an	an	DET
fsr-3773	93	180	objective	objective	ADJ
fsr-3773	93	181	porrfolio	porrfolio	NOUN
fsr-3773	93	182	(	(	PUNCT
fsr-3773	93	183	panel	panel	NOUN
fsr-3773	93	184	b	b	NOUN
fsr-3773	93	185	)	)	PUNCT
fsr-3773	93	186	.	.	PUNCT
fsr-3773	94	1	the	the	DET
fsr-3773	94	2	t	t	PROPN
fsr-3773	94	3	-	-	PUNCT
fsr-3773	94	4	statistic	statistic	NOUN
fsr-3773	94	5	and	and	CCONJ
fsr-3773	94	6	two	two	NUM
fsr-3773	94	7	-	-	PUNCT
fsr-3773	94	8	tailed	tail	VERB
fsr-3773	94	9	significance	significance	NOUN
fsr-3773	94	10	levelfor	levelfor	NOUN
fsr-3773	94	11	testing	test	VERB
fsr-3773	94	12	whether	whether	SCONJ
fsr-3773	94	13	the	the	DET
fsr-3773	94	14	average	average	ADJ
fsr-3773	94	15	alpha	alpha	NOUN
fsr-3773	94	16	is	be	AUX
fsr-3773	94	17	different	different	ADJ
fsr-3773	94	18	than	than	ADP
fsr-3773	94	19	zero	zero	NUM
fsr-3773	94	20	in	in	ADP
fsr-3773	94	21	the	the	DET
fsr-3773	94	22	pre	pre	ADJ
fsr-3773	94	23	-	-	ADJ
fsr-3773	94	24	closing	closing	ADJ
fsr-3773	94	25	and	and	CCONJ
fsr-3773	94	26	post	post	ADJ
fsr-3773	94	27	-	-	ADJ
fsr-3773	94	28	closing	closing	NOUN
fsr-3773	94	29	are	be	AUX
fsr-3773	94	30	also	also	ADV
fsr-3773	94	31	reported	report	VERB
fsr-3773	94	32	.	.	PUNCT
fsr-3773	95	1	the	the	DET
fsr-3773	95	2	s&p	s&p	PROPN
fsr-3773	95	3	500	500	NUM
fsr-3773	95	4	index	index	NOUN
fsr-3773	95	5	is	be	AUX
fsr-3773	95	6	used	use	VERB
fsr-3773	95	7	as	as	ADP
fsr-3773	95	8	the	the	DET
fsr-3773	95	9	benchmark	benchmark	ADJ
fsr-3773	95	10	portjolio	portjolio	NOUN
fsr-3773	95	11	for	for	ADP
fsr-3773	95	12	equity	equity	NOUN
fsr-3773	95	13	funds	fund	NOUN
fsr-3773	95	14	a	a	DET
fsr-3773	95	15	5040	5040	NUM
fsr-3773	95	16	mix	mix	NOUN
fsr-3773	95	17	of	of	ADP
fsr-3773	95	18	the	the	DET
fsr-3773	95	19	lehman	lehman	PROPN
fsr-3773	95	20	brother	brother	PROPN
fsr-3773	95	21	aggregate	aggregate	ADJ
fsr-3773	95	22	bond	bond	NOUN
fsr-3773	95	23	index	index	NOUN
fsr-3773	95	24	and	and	CCONJ
fsr-3773	95	25	s&p	s&p	PROPN
fsr-3773	95	26	500	500	NUM
fsr-3773	95	27	index	index	NOUN
fsr-3773	95	28	is	be	AUX
fsr-3773	95	29	usedfor	usedfor	ADJ
fsr-3773	95	30	ilybridfirnds	ilybridfirnd	NOUN
fsr-3773	95	31	.	.	PUNCT
fsr-3773	96	1	mean	mean	NOUN
fsr-3773	96	2	0.41	0.41	NUM
fsr-3773	96	3	%	%	NOUN
fsr-3773	96	4	-0.13	-0.13	NUM
fsr-3773	96	5	%	%	NOUN
fsr-3773	96	6	standard	standard	ADJ
fsr-3773	96	7	deviation	deviation	NOUN
fsr-3773	96	8	0.84	0.84	NUM
fsr-3773	96	9	0.52	0.52	NUM
fsr-3773	96	10	t	t	NOUN
fsr-3773	96	11	-	-	PUNCT
fsr-3773	96	12	statistic	statistic	NOUN
fsr-3773	96	13	2.83	2.83	NUM
fsr-3773	96	14	*	*	PUNCT
fsr-3773	96	15	*	*	PUNCT
fsr-3773	96	16	*	*	PUNCT
fsr-3773	96	17	-1.25	-1.25	NUM
fsr-3773	96	18	median	median	NOUN
fsr-3773	96	19	0.56	0.56	NUM
fsr-3773	96	20	%	%	NOUN
fsr-3773	96	21	-0.08	-0.08	NUM
fsr-3773	96	22	%	%	NOUN
fsr-3773	96	23	maximum	maximum	ADJ
fsr-3773	96	24	2.34	2.34	NUM
fsr-3773	96	25	%	%	NOUN
fsr-3773	96	26	0.77	0.77	NUM
fsr-3773	96	27	%	%	NOUN
fsr-3773	96	28	minimum	minimum	NOUN
fsr-3773	96	29	-2.22	-2.22	NOUN
fsr-3773	96	30	%	%	NOUN
fsr-3773	96	31	-1.68	-1.68	NOUN
fsr-3773	96	32	%	%	NOUN
fsr-3773	96	33	panel	panel	NOUN
fsr-3773	96	34	b	b	PROPN
fsr-3773	96	35	the	the	DET
fsr-3773	96	36	average	average	NOUN
fsr-3773	96	37	of	of	ADP
fsr-3773	96	38	alljimds	alljimds	NOUN
fsr-3773	96	39	with	with	ADP
fsr-3773	96	40	similar	similar	ADJ
fsr-3773	96	41	invesmtent	invesmtent	ADJ
fsr-3773	96	42	objective	objective	NOUN
fsr-3773	96	43	is	be	AUX
fsr-3773	96	44	used	use	VERB
fsr-3773	96	45	as	as	ADP
fsr-3773	96	46	the	the	DET
fsr-3773	96	47	benchmark	benchmark	NOUN
fsr-3773	96	48	portfolio	portfolio	NOUN
fsr-3773	96	49	for	for	ADP
fsr-3773	96	50	each	each	DET
fsr-3773	96	51	fund	fund	NOUN
fsr-3773	96	52	.	.	PUNCT
fsr-3773	97	1	mean	mean	VERB
fsr-3773	97	2	0.50	0.50	NUM
fsr-3773	97	3	%	%	NOUN
fsr-3773	97	4	0.03	0.03	NUM
fsr-3773	97	5	%	%	NOUN
fsr-3773	97	6	standard	standard	ADJ
fsr-3773	97	7	deviation	deviation	NOUN
fsr-3773	97	8	0.52	0.52	NUM
fsr-3773	97	9	0.47	0.47	NUM
fsr-3773	97	10	t	t	PROPN
fsr-3773	97	11	-	-	PUNCT
fsr-3773	97	12	statistic	statistic	NOUN
fsr-3773	97	13	4.79	4.79	NUM
fsr-3773	97	14	*	*	NOUN
fsr-3773	97	15	*	*	PUNCT
fsr-3773	97	16	*	*	NOUN
fsr-3773	97	17	0.34	0.34	NUM
fsr-3773	97	18	median	median	NOUN
fsr-3773	97	19	0.52	0.52	NUM
fsr-3773	97	20	%	%	NOUN
fsr-3773	97	21	0.00	0.00	NUM
fsr-3773	97	22	%	%	NOUN
fsr-3773	97	23	maximum	maximum	ADJ
fsr-3773	97	24	1.34	1.34	NUM
fsr-3773	97	25	%	%	NOUN
fsr-3773	97	26	1.35	1.35	NUM
fsr-3773	97	27	%	%	NOUN
fsr-3773	97	28	minimum	minimum	NOUN
fsr-3773	97	29	-1.07	-1.07	NOUN
fsr-3773	97	30	%	%	NOUN
fsr-3773	97	31	4.84	4.84	NUM
fsr-3773	97	32	%	%	NOUN
fsr-3773	97	33	note	note	NOUN
fsr-3773	97	34	:	:	PUNCT
fsr-3773	98	1	*	*	PUNCT
fsr-3773	98	2	*	*	PUNCT
fsr-3773	98	3	*	*	PUNCT
fsr-3773	98	4	significant	significant	ADJ
fsr-3773	98	5	at	at	ADP
fsr-3773	98	6	the	the	DET
fsr-3773	98	7	1	1	NUM
fsr-3773	98	8	%	%	NOUN
fsr-3773	98	9	level	level	NOUN
fsr-3773	98	10	.	.	PUNCT
fsr-3773	99	1	fund	fund	NOUN
fsr-3773	99	2	closings	closing	NOUN
fsr-3773	99	3	as	as	ADP
fsr-3773	99	4	a	a	DET
fsr-3773	99	5	signal	signal	NOUN
fsr-3773	99	6	to	to	ADP
fsr-3773	99	7	investors	investor	NOUN
fsr-3773	99	8	77	77	NUM
fsr-3773	99	9	average	average	ADJ
fsr-3773	99	10	return	return	NOUN
fsr-3773	99	11	of	of	ADP
fsr-3773	99	12	the	the	DET
fsr-3773	99	13	funds	fund	NOUN
fsr-3773	99	14	with	with	ADP
fsr-3773	99	15	the	the	DET
fsr-3773	99	16	same	same	ADJ
fsr-3773	99	17	investment	investment	NOUN
fsr-3773	99	18	objective	objective	NOUN
fsr-3773	99	19	.	.	PUNCT
fsr-3773	100	1	hereafter	hereafter	ADV
fsr-3773	100	2	,	,	PUNCT
fsr-3773	100	3	the	the	DET
fsr-3773	100	4	first	first	ADJ
fsr-3773	100	5	bench	bench	NOUN
fsr-3773	100	6	mark	mark	NOUN
fsr-3773	100	7	is	be	AUX
fsr-3773	100	8	referred	refer	VERB
fsr-3773	100	9	to	to	ADP
fsr-3773	100	10	as	as	ADP
fsr-3773	100	11	the	the	DET
fsr-3773	100	12	“	"	PUNCT
fsr-3773	100	13	market	market	NOUN
fsr-3773	100	14	”	"	PUNCT
fsr-3773	100	15	portfolio	portfolio	NOUN
fsr-3773	100	16	,	,	PUNCT
fsr-3773	100	17	and	and	CCONJ
fsr-3773	100	18	the	the	DET
fsr-3773	100	19	second	second	ADJ
fsr-3773	100	20	as	as	ADP
fsr-3773	100	21	the	the	DET
fsr-3773	100	22	“	"	PUNCT
fsr-3773	100	23	peer	peer	NOUN
fsr-3773	100	24	group	group	NOUN
fsr-3773	100	25	”	"	PUNCT
fsr-3773	100	26	portfolio	portfolio	NOUN
fsr-3773	100	27	.	.	PUNCT
fsr-3773	101	1	there	there	PRON
fsr-3773	101	2	is	be	VERB
fsr-3773	101	3	evidence	evidence	NOUN
fsr-3773	101	4	(	(	PUNCT
fsr-3773	101	5	e.g.	e.g.	ADV
fsr-3773	101	6	,	,	PUNCT
fsr-3773	101	7	lehmann	lehmann	PROPN
fsr-3773	101	8	&	&	CCONJ
fsr-3773	101	9	modest	modest	ADJ
fsr-3773	101	10	,	,	PUNCT
fsr-3773	101	11	1987	1987	NUM
fsr-3773	101	12	)	)	PUNCT
fsr-3773	101	13	that	that	SCONJ
fsr-3773	101	14	mutual	mutual	ADJ
fsr-3773	101	15	fund	fund	NOUN
fsr-3773	101	16	performance	performance	NOUN
fsr-3773	101	17	measures	measure	NOUN
fsr-3773	101	18	are	be	AUX
fsr-3773	101	19	sensitive	sensitive	ADJ
fsr-3773	101	20	to	to	ADP
fsr-3773	101	21	the	the	DET
fsr-3773	101	22	benchm	benchm	NOUN
fsr-3773	101	23	~	~	SYM
fsr-3773	101	24	k	k	NOUN
fsr-3773	101	25	against	against	ADP
fsr-3773	101	26	which	which	PRON
fsr-3773	101	27	excess	excess	ADJ
fsr-3773	101	28	returns	return	NOUN
fsr-3773	101	29	are	be	AUX
fsr-3773	101	30	estimated	estimate	VERB
fsr-3773	101	31	.	.	PUNCT
fsr-3773	102	1	we	we	PRON
fsr-3773	102	2	use	use	VERB
fsr-3773	102	3	two	two	NUM
fsr-3773	102	4	distinct	distinct	ADJ
fsr-3773	102	5	benchmarks	benchmark	NOUN
fsr-3773	102	6	portfolios	portfolio	NOUN
fsr-3773	102	7	for	for	ADP
fsr-3773	102	8	each	each	DET
fsr-3773	102	9	fund	fund	NOUN
fsr-3773	102	10	to	to	PART
fsr-3773	102	11	demonstrate	demonstrate	VERB
fsr-3773	102	12	the	the	DET
fsr-3773	102	13	robustness	robustness	NOUN
fsr-3773	102	14	of	of	ADP
fsr-3773	102	15	our	our	PRON
fsr-3773	102	16	results	result	NOUN
fsr-3773	102	17	to	to	ADP
fsr-3773	102	18	the	the	DET
fsr-3773	102	19	choice	choice	NOUN
fsr-3773	102	20	of	of	ADP
fsr-3773	102	21	benchmark	benchmark	NOUN
fsr-3773	102	22	.	.	PUNCT
fsr-3773	103	1	iv	iv	X
fsr-3773	103	2	.	.	PUNCT
fsr-3773	104	1	e~~rical	e~~rical	ADJ
fsr-3773	104	2	results	result	NOUN
fsr-3773	104	3	a.	a.	NOUN
fsr-3773	104	4	pm	pm	NOUN
fsr-3773	104	5	-	-	PUNCT
fsr-3773	104	6	closing	close	VERB
fsr-3773	104	7	excess	excess	ADJ
fsr-3773	104	8	returns	return	NOUN
fsr-3773	104	9	the	the	DET
fsr-3773	104	10	monthly	monthly	ADJ
fsr-3773	104	11	mean	mean	NOUN
fsr-3773	104	12	excess	excess	ADJ
fsr-3773	104	13	returns	return	NOUN
fsr-3773	104	14	as	as	SCONJ
fsr-3773	104	15	estimated	estimate	VERB
fsr-3773	104	16	by	by	ADP
fsr-3773	104	17	jensen	jensen	PROPN
fsr-3773	104	18	’s	’s	PART
fsr-3773	104	19	alpha	alpha	NOUN
fsr-3773	104	20	are	be	AUX
fsr-3773	104	21	reported	report	VERB
fsr-3773	104	22	in	in	ADP
fsr-3773	104	23	panels	panel	NOUN
fsr-3773	104	24	a	a	PRON
fsr-3773	104	25	and	and	CCONJ
fsr-3773	104	26	b	b	NOUN
fsr-3773	104	27	of	of	ADP
fsr-3773	104	28	table	table	NOUN
fsr-3773	104	29	2	2	NUM
fsr-3773	104	30	for	for	ADP
fsr-3773	104	31	the	the	DET
fsr-3773	104	32	market	market	NOUN
fsr-3773	104	33	benchmark	benchmark	NOUN
fsr-3773	104	34	and	and	CCONJ
fsr-3773	104	35	peer	peer	NOUN
fsr-3773	104	36	group	group	NOUN
fsr-3773	104	37	benchmark	benchmark	NOUN
fsr-3773	104	38	portfolios	portfolio	NOUN
fsr-3773	104	39	,	,	PUNCT
fsr-3773	104	40	respectively	respectively	ADV
fsr-3773	104	41	,	,	PUNCT
fsr-3773	104	42	the	the	DET
fsr-3773	104	43	mean	mean	ADJ
fsr-3773	104	44	monthly	monthly	ADJ
fsr-3773	104	45	excess	excess	ADJ
fsr-3773	104	46	return	return	NOUN
fsr-3773	104	47	in	in	ADP
fsr-3773	104	48	the	the	DET
fsr-3773	104	49	pre	pre	ADJ
fsr-3773	104	50	-	-	ADJ
fsr-3773	104	51	closing	closing	ADJ
fsr-3773	104	52	period	period	NOUN
fsr-3773	104	53	is	be	AUX
fsr-3773	104	54	0.47	0.47	NUM
fsr-3773	104	55	%	%	NOUN
fsr-3773	104	56	(	(	PUNCT
fsr-3773	104	57	about	about	ADP
fsr-3773	104	58	6	6	NUM
fsr-3773	104	59	%	%	NOUN
fsr-3773	104	60	on	on	ADP
fsr-3773	104	61	an	an	DET
fsr-3773	104	62	annual	annual	ADJ
fsr-3773	104	63	basis	basis	NOUN
fsr-3773	104	64	)	)	PUNCT
fsr-3773	104	65	using	use	VERB
fsr-3773	104	66	the	the	DET
fsr-3773	104	67	market	market	NOUN
fsr-3773	104	68	portfolio	portfolio	NOUN
fsr-3773	104	69	.	.	PUNCT
fsr-3773	105	1	the	the	DET
fsr-3773	105	2	r	r	NOUN
fsr-3773	105	3	-	-	PUNCT
fsr-3773	105	4	statistic	statistic	NOUN
fsr-3773	105	5	of	of	ADP
fsr-3773	105	6	2.83	2.83	NUM
fsr-3773	105	7	is	be	AUX
fsr-3773	105	8	significantly	significantly	ADV
fsr-3773	105	9	different	different	ADJ
fsr-3773	105	10	from	from	ADP
fsr-3773	105	11	zero	zero	NUM
fsr-3773	105	12	at	at	ADP
fsr-3773	105	13	the	the	DET
fsr-3773	105	14	1	1	NUM
fsr-3773	105	15	%	%	NOUN
fsr-3773	105	16	significance	significance	NOUN
fsr-3773	105	17	level	level	NOUN
fsr-3773	105	18	.	.	PUNCT
fsr-3773	106	1	individual	individual	ADJ
fsr-3773	106	2	fund	fund	PROPN
fsr-3773	106	3	excess	excess	ADJ
fsr-3773	106	4	returns	return	NOUN
fsr-3773	106	5	range	range	VERB
fsr-3773	106	6	from	from	ADP
fsr-3773	106	7	2.34	2.34	NUM
fsr-3773	106	8	%	%	NOUN
fsr-3773	106	9	to	to	ADP
fsr-3773	106	10	-2.22	-2.22	NOUN
fsr-3773	106	11	%	%	NOUN
fsr-3773	106	12	.	.	PUNCT
fsr-3773	107	1	the	the	DET
fsr-3773	107	2	mean	mean	ADJ
fsr-3773	107	3	monthly	monthly	ADJ
fsr-3773	107	4	excess	excess	ADJ
fsr-3773	107	5	return	return	NOUN
fsr-3773	107	6	in	in	ADP
fsr-3773	107	7	the	the	DET
fsr-3773	107	8	pre	pre	ADJ
fsr-3773	107	9	-	-	ADJ
fsr-3773	107	10	closing	closing	ADJ
fsr-3773	107	11	period	period	NOUN
fsr-3773	107	12	using	use	VERB
fsr-3773	107	13	the	the	DET
fsr-3773	107	14	peer	peer	NOUN
fsr-3773	107	15	group	group	NOUN
fsr-3773	107	16	table	table	NOUN
fsr-3773	107	17	3	3	NUM
fsr-3773	107	18	summary	summary	NOUN
fsr-3773	107	19	statistics	statistic	NOUN
fsr-3773	107	20	for	for	ADP
fsr-3773	107	21	the	the	DET
fsr-3773	107	22	betas	beta	NOUN
fsr-3773	107	23	of	of	ADP
fsr-3773	107	24	the	the	DET
fsr-3773	107	25	25	25	NUM
fsr-3773	107	26	funds	fund	NOUN
fsr-3773	107	27	in	in	ADP
fsr-3773	107	28	the	the	DET
fsr-3773	107	29	sample	sample	NOUN
fsr-3773	107	30	before	before	ADV
fsr-3773	107	31	and	and	CCONJ
fsr-3773	107	32	after	after	SCONJ
fsr-3773	107	33	closing	closing	NOUN
fsr-3773	107	34	statistics	statistic	NOUN
fsr-3773	107	35	are	be	AUX
fsr-3773	107	36	estimated	estimate	VERB
fsr-3773	107	37	using	use	VERB
fsr-3773	107	38	two	two	NUM
fsr-3773	107	39	types	type	NOUN
fsr-3773	107	40	of	of	ADP
fsr-3773	107	41	benchmark	benchmark	NOUN
fsr-3773	107	42	portfolios	portfolio	NOUN
fsr-3773	107	43	,	,	PUNCT
fsr-3773	107	44	a	a	DET
fsr-3773	107	45	market	market	NOUN
fsr-3773	107	46	portfolio	portfolio	NOUN
fsr-3773	107	47	(	(	PUNCT
fsr-3773	107	48	panel	panel	NOUN
fsr-3773	107	49	a	a	NOUN
fsr-3773	107	50	)	)	PUNCT
fsr-3773	107	51	and	and	CCONJ
fsr-3773	107	52	an	an	DET
fsr-3773	107	53	objective	objective	ADJ
fsr-3773	107	54	portfolio	portfolio	NOUN
fsr-3773	107	55	(	(	PUNCT
fsr-3773	107	56	panel	panel	NOUN
fsr-3773	107	57	b	b	NOUN
fsr-3773	107	58	)	)	PUNCT
fsr-3773	107	59	.	.	PUNCT
fsr-3773	108	1	the	the	DET
fsr-3773	108	2	t	t	PROPN
fsr-3773	108	3	-	-	PUNCT
fsr-3773	108	4	statistic	statistic	NOUN
fsr-3773	108	5	and	and	CCONJ
fsr-3773	108	6	two	two	NUM
fsr-3773	108	7	-	-	PUNCT
fsr-3773	108	8	tailed	tail	VERB
fsr-3773	108	9	significance	significance	NOUN
fsr-3773	108	10	level	level	NOUN
fsr-3773	108	11	for	for	ADP
fsr-3773	108	12	testing	test	VERB
fsr-3773	108	13	whether	whether	SCONJ
fsr-3773	108	14	the	the	DET
fsr-3773	108	15	average	average	ADJ
fsr-3773	108	16	beta	beta	NOUN
fsr-3773	108	17	is	be	AUX
fsr-3773	108	18	d#erent	d#erent	NOUN
fsr-3773	108	19	than	than	ADP
fsr-3773	108	20	1	1	NUM
fsr-3773	108	21	irr	irr	NOUN
fsr-3773	108	22	the	the	DET
fsr-3773	108	23	pre	pre	ADJ
fsr-3773	108	24	-	-	ADJ
fsr-3773	108	25	closing	closing	ADJ
fsr-3773	108	26	and	and	CCONJ
fsr-3773	108	27	post	post	ADJ
fsr-3773	108	28	-	-	ADJ
fsr-3773	108	29	closing	closing	NOUN
fsr-3773	108	30	are	be	AUX
fsr-3773	108	31	also	also	ADV
fsr-3773	108	32	reported	report	VERB
fsr-3773	108	33	.	.	PUNCT
fsr-3773	109	1	pp=	pp=	PROPN
fsr-3773	109	2	bposl	bposl	PROPN
fsr-3773	109	3	panel	panel	NOUN
fsr-3773	109	4	a	a	DET
fsr-3773	109	5	the	the	DET
fsr-3773	109	6	s&p	s&p	PROPN
fsr-3773	109	7	500	500	NUM
fsr-3773	109	8	index	index	NOUN
fsr-3773	109	9	is	be	AUX
fsr-3773	109	10	used	use	VERB
fsr-3773	109	11	as	as	ADP
fsr-3773	109	12	the	the	DET
fsr-3773	109	13	benchmark	benchmark	NOUN
fsr-3773	109	14	portfolio	portfolio	NOUN
fsr-3773	109	15	for	for	ADP
fsr-3773	109	16	equity	equity	NOUN
fsr-3773	109	17	funds	fund	NOUN
fsr-3773	109	18	.	.	PUNCT
fsr-3773	110	1	a	a	DET
fsr-3773	110	2	50/50	50/50	NUM
fsr-3773	110	3	mix	mix	NOUN
fsr-3773	110	4	of	of	ADP
fsr-3773	110	5	the	the	DET
fsr-3773	110	6	lehmnn	lehmnn	NOUN
fsr-3773	110	7	brother	brother	NOUN
fsr-3773	110	8	aggregate	aggregate	NOUN
fsr-3773	110	9	bond	bond	NOUN
fsr-3773	110	10	index	index	NOUN
fsr-3773	110	11	and	and	CCONJ
fsr-3773	110	12	s&p	s&p	PROPN
fsr-3773	110	13	500	500	NUM
fsr-3773	110	14	index	index	NOUN
fsr-3773	110	15	is	be	AUX
fsr-3773	110	16	usedfor	usedfor	ADP
fsr-3773	110	17	hybrid	hybrid	ADJ
fsr-3773	110	18	funds	fund	NOUN
fsr-3773	110	19	.	.	PUNCT
fsr-3773	111	1	mean	mean	VERB
fsr-3773	111	2	0.83	0.83	NUM
fsr-3773	111	3	0.79	0.79	NUM
fsr-3773	111	4	standard	standard	ADJ
fsr-3773	111	5	deviation	deviation	NOUN
fsr-3773	111	6	0.28	0.28	NUM
fsr-3773	111	7	0.30	0.30	NUM
fsr-3773	111	8	t	t	PROPN
fsr-3773	111	9	-	-	PUNCT
fsr-3773	111	10	statistic	statistic	NOUN
fsr-3773	111	11	-3.11	-3.11	NOUN
fsr-3773	111	12	*	*	NOUN
fsr-3773	111	13	*	*	NOUN
fsr-3773	111	14	*	*	NOUN
fsr-3773	111	15	-3.3s	-3.3s	PRON
fsr-3773	111	16	*	*	PUNCT
fsr-3773	111	17	*	*	PUNCT
fsr-3773	111	18	*	*	PUNCT
fsr-3773	111	19	median	median	NOUN
fsr-3773	111	20	0.78	0.78	NUM
fsr-3773	111	21	0.73	0.73	NUM
fsr-3773	111	22	maximum	maximum	NOUN
fsr-3773	111	23	1.46	1.46	NUM
fsr-3773	111	24	1.32	1.32	NUM
fsr-3773	111	25	minimum	minimum	NOUN
fsr-3773	111	26	0.40	0.40	NUM
fsr-3773	111	27	0.33	0.33	NUM
fsr-3773	111	28	panel	panel	NOUN
fsr-3773	111	29	b	b	PROPN
fsr-3773	111	30	the	the	DET
fsr-3773	111	31	average	average	NOUN
fsr-3773	111	32	of	of	ADP
fsr-3773	111	33	ai~~ads	ai~~ad	NOUN
fsr-3773	111	34	with	with	ADP
fsr-3773	111	35	similar	similar	ADJ
fsr-3773	111	36	i	i	PROPN
fsr-3773	111	37	~	~	NOUN
fsr-3773	111	38	ves	ves	X
fsr-3773	111	39	~	~	NOUN
fsr-3773	111	40	ent	ent	NOUN
fsr-3773	111	41	objective	objective	NOUN
fsr-3773	111	42	is	be	AUX
fsr-3773	111	43	used	use	VERB
fsr-3773	111	44	as	as	ADP
fsr-3773	111	45	the	the	DET
fsr-3773	111	46	benchmark	benchmark	NOUN
fsr-3773	111	47	po	po	NOUN
fsr-3773	111	48	~	~	NOUN
fsr-3773	111	49	fol	fol	X
fsr-3773	111	50	~	~	SYM
fsr-3773	111	51	o	o	NOUN
fsr-3773	111	52	for	for	ADP
fsr-3773	111	53	each	each	DET
fsr-3773	111	54	fund	fund	NOUN
fsr-3773	111	55	.	.	PUNCT
fsr-3773	112	1	mean	mean	VERB
fsr-3773	112	2	0.87	0.87	NUM
fsr-3773	112	3	0.89	0.89	NUM
fsr-3773	112	4	standard	standard	ADJ
fsr-3773	112	5	deviation	deviation	NOUN
fsr-3773	112	6	0.31	0.31	NUM
fsr-3773	112	7	0.35	0.35	NUM
fsr-3773	112	8	t	t	PROPN
fsr-3773	112	9	-	-	PUNCT
fsr-3773	112	10	statistic	statistic	NOUN
fsr-3773	112	11	-2.12	-2.12	NOUN
fsr-3773	112	12	*	*	NOUN
fsr-3773	112	13	*	*	NOUN
fsr-3773	112	14	-1.60	-1.60	ADJ
fsr-3773	112	15	median	median	ADJ
fsr-3773	113	1	0.82	0.82	NUM
fsr-3773	113	2	0.88	0.88	NUM
fsr-3773	113	3	maximum	maximum	ADJ
fsr-3773	113	4	1.60	1.60	NUM
fsr-3773	113	5	1.44	1.44	NUM
fsr-3773	113	6	mi	mi	PROPN
fsr-3773	113	7	~	~	PROPN
fsr-3773	113	8	rn~	rn~	PROPN
fsr-3773	113	9	0.45	0.45	NUM
fsr-3773	113	10	0.18	0.18	NUM
fsr-3773	113	11	notes	note	NOUN
fsr-3773	113	12	:	:	PUNCT
fsr-3773	113	13	*	*	PUNCT
fsr-3773	113	14	*	*	PUNCT
fsr-3773	113	15	*	*	PUNCT
fsr-3773	113	16	significant	significant	ADJ
fsr-3773	113	17	at	at	ADP
fsr-3773	113	18	the	the	DET
fsr-3773	113	19	1	1	NUM
fsr-3773	113	20	%	%	NOUN
fsr-3773	113	21	level	level	NOUN
fsr-3773	113	22	.	.	PUNCT
fsr-3773	114	1	*	*	PUNCT
fsr-3773	114	2	*	*	PUNCT
fsr-3773	114	3	significant	significant	ADJ
fsr-3773	114	4	at	at	ADP
fsr-3773	114	5	the	the	DET
fsr-3773	114	6	5	5	NUM
fsr-3773	114	7	%	%	NOUN
fsr-3773	114	8	level	level	NOUN
fsr-3773	114	9	.	.	PUNCT
fsr-3773	115	1	78	78	NUM
fsr-3773	115	2	financial	financial	ADJ
fsr-3773	115	3	services	service	NOUN
fsr-3773	115	4	review	review	NOUN
fsr-3773	115	5	4(2	4(2	NUM
fsr-3773	115	6	)	)	PUNCT
fsr-3773	115	7	1995	1995	NUM
fsr-3773	115	8	benchmark	benchmark	NOUN
fsr-3773	115	9	portfolio	portfolio	NOUN
fsr-3773	115	10	is	be	AUX
fsr-3773	115	11	0.50	0.50	NUM
fsr-3773	115	12	%	%	NOUN
fsr-3773	115	13	(	(	PUNCT
fsr-3773	115	14	r	r	NOUN
fsr-3773	115	15	-	-	NOUN
fsr-3773	115	16	statistic	statistic	NOUN
fsr-3773	115	17	of	of	ADP
fsr-3773	115	18	4.79	4.79	NUM
fsr-3773	115	19	)	)	PUNCT
fsr-3773	115	20	,	,	PUNCT
fsr-3773	115	21	which	which	PRON
fsr-3773	115	22	is	be	AUX
fsr-3773	115	23	also	also	ADV
fsr-3773	115	24	significantly	significantly	ADV
fsr-3773	115	25	different	different	ADJ
fsr-3773	115	26	from	from	ADP
fsr-3773	115	27	zero	zero	NUM
fsr-3773	115	28	at	at	ADP
fsr-3773	115	29	the	the	DET
fsr-3773	115	30	1	1	NUM
fsr-3773	115	31	%	%	NOUN
fsr-3773	115	32	level	level	NOUN
fsr-3773	115	33	.	.	PUNCT
fsr-3773	116	1	individual	individual	ADJ
fsr-3773	116	2	excess	excess	ADJ
fsr-3773	116	3	returns	return	NOUN
fsr-3773	116	4	range	range	VERB
fsr-3773	116	5	from	from	ADP
fsr-3773	116	6	1.34	1.34	NUM
fsr-3773	116	7	%	%	NOUN
fsr-3773	116	8	to	to	PART
fsr-3773	116	9	-1.07	-1.07	VERB
fsr-3773	116	10	%	%	NOUN
fsr-3773	116	11	.	.	PUNCT
fsr-3773	117	1	it	it	PRON
fsr-3773	117	2	appears	appear	VERB
fsr-3773	117	3	that	that	SCONJ
fsr-3773	117	4	funds	fund	NOUN
fsr-3773	117	5	that	that	PRON
fsr-3773	117	6	close	close	ADV
fsr-3773	117	7	to	to	ADP
fsr-3773	117	8	new	new	ADJ
fsr-3773	117	9	investors	investor	NOUN
fsr-3773	117	10	earn	earn	VERB
fsr-3773	117	11	significant	significant	ADJ
fsr-3773	117	12	excess	excess	ADJ
fsr-3773	117	13	returns	return	NOUN
fsr-3773	117	14	on	on	ADP
fsr-3773	117	15	average	average	ADJ
fsr-3773	117	16	in	in	ADP
fsr-3773	117	17	the	the	DET
fsr-3773	117	18	24	24	NUM
fsr-3773	117	19	months	month	NOUN
fsr-3773	117	20	prior	prior	ADV
fsr-3773	117	21	to	to	ADP
fsr-3773	117	22	the	the	DET
fsr-3773	117	23	closing	closing	NOUN
fsr-3773	117	24	.	.	PUNCT
fsr-3773	118	1	this	this	DET
fsr-3773	118	2	result	result	NOUN
fsr-3773	118	3	is	be	AUX
fsr-3773	118	4	robust	robust	ADJ
fsr-3773	118	5	to	to	ADP
fsr-3773	118	6	the	the	DET
fsr-3773	118	7	choice	choice	NOUN
fsr-3773	118	8	of	of	ADP
fsr-3773	118	9	benchmark	benchmark	NOUN
fsr-3773	118	10	portfolio	portfolio	NOUN
fsr-3773	118	11	.	.	PUNCT
fsr-3773	119	1	b.	b.	PROPN
fsr-3773	120	1	post	post	ADJ
fsr-3773	120	2	-	-	ADJ
fsr-3773	120	3	closing	closing	ADJ
fsr-3773	120	4	excess	excess	ADJ
fsr-3773	120	5	returns	return	NOUN
fsr-3773	120	6	the	the	DET
fsr-3773	120	7	mean	mean	ADJ
fsr-3773	120	8	monthly	monthly	ADJ
fsr-3773	120	9	excess	excess	ADJ
fsr-3773	120	10	return	return	NOUN
fsr-3773	120	11	in	in	ADP
fsr-3773	120	12	the	the	DET
fsr-3773	120	13	post	post	ADJ
fsr-3773	120	14	-	-	ADJ
fsr-3773	120	15	closing	closing	ADJ
fsr-3773	120	16	period	period	NOUN
fsr-3773	120	17	is	be	AUX
fsr-3773	120	18	-0.13	-0.13	NUM
fsr-3773	120	19	%	%	NOUN
fsr-3773	120	20	using	use	VERB
fsr-3773	120	21	the	the	DET
fsr-3773	120	22	market	market	NOUN
fsr-3773	120	23	benchmark	benchmark	NOUN
fsr-3773	120	24	and	and	CCONJ
fsr-3773	120	25	0.03	0.03	NUM
fsr-3773	120	26	%	%	NOUN
fsr-3773	120	27	using	use	VERB
fsr-3773	120	28	the	the	DET
fsr-3773	120	29	peer	peer	NOUN
fsr-3773	120	30	group	group	NOUN
fsr-3773	120	31	benchmark	benchmark	NOUN
fsr-3773	120	32	,	,	PUNCT
fsr-3773	120	33	neither	neither	PRON
fsr-3773	120	34	of	of	ADP
fsr-3773	120	35	which	which	PRON
fsr-3773	120	36	is	be	AUX
fsr-3773	120	37	significantly	significantly	ADV
fsr-3773	120	38	different	different	ADJ
fsr-3773	120	39	from	from	ADP
fsr-3773	120	40	zero	zero	NUM
fsr-3773	120	41	.	.	PUNCT
fsr-3773	121	1	funds	fund	NOUN
fsr-3773	121	2	that	that	PRON
fsr-3773	121	3	close	close	ADV
fsr-3773	121	4	to	to	ADP
fsr-3773	121	5	new	new	ADJ
fsr-3773	121	6	investors	investor	NOUN
fsr-3773	121	7	do	do	AUX
fsr-3773	121	8	not	not	PART
fsr-3773	121	9	earn	earn	VERB
fsr-3773	121	10	excess	excess	ADJ
fsr-3773	121	11	returns	return	NOUN
fsr-3773	121	12	on	on	ADP
fsr-3773	121	13	average	average	ADJ
fsr-3773	121	14	in	in	ADP
fsr-3773	121	15	the	the	DET
fsr-3773	121	16	24	24	NUM
fsr-3773	121	17	months	month	NOUN
fsr-3773	121	18	following	follow	VERB
fsr-3773	121	19	the	the	DET
fsr-3773	121	20	fund	fund	NOUN
fsr-3773	121	21	closing	closing	NOUN
fsr-3773	121	22	.	.	PUNCT
fsr-3773	122	1	c.	c.	PROPN
fsr-3773	122	2	beta	beta	PROPN
fsr-3773	122	3	estimates	estimate	VERB
fsr-3773	122	4	summary	summary	NOUN
fsr-3773	122	5	statistics	statistic	NOUN
fsr-3773	122	6	of	of	ADP
fsr-3773	122	7	the	the	DET
fsr-3773	122	8	estimated	estimate	VERB
fsr-3773	122	9	fund	fund	NOUN
fsr-3773	122	10	betas	beta	NOUN
fsr-3773	122	11	are	be	AUX
fsr-3773	122	12	reported	report	VERB
fsr-3773	122	13	in	in	ADP
fsr-3773	122	14	table	table	NOUN
fsr-3773	122	15	3	3	NUM
fsr-3773	122	16	,	,	PUNCT
fsr-3773	122	17	panels	panel	VERB
fsr-3773	122	18	a	a	PRON
fsr-3773	122	19	and	and	CCONJ
fsr-3773	122	20	b.	b.	X
fsr-3773	122	21	the	the	DET
fsr-3773	122	22	funds	fund	NOUN
fsr-3773	122	23	in	in	ADP
fsr-3773	122	24	our	our	PRON
fsr-3773	122	25	sample	sample	NOUN
fsr-3773	122	26	appear	appear	VERB
fsr-3773	122	27	to	to	PART
fsr-3773	122	28	be	be	AUX
fsr-3773	122	29	less	less	ADV
fsr-3773	122	30	risky	risky	ADJ
fsr-3773	122	31	than	than	ADP
fsr-3773	122	32	both	both	DET
fsr-3773	122	33	the	the	DET
fsr-3773	122	34	s&p	s&p	PROPN
fsr-3773	122	35	500	500	NUM
fsr-3773	122	36	and	and	CCONJ
fsr-3773	122	37	their	their	PRON
fsr-3773	122	38	own	own	ADJ
fsr-3773	122	39	investment	investment	NOUN
fsr-3773	122	40	peer	peer	NOUN
fsr-3773	122	41	group	group	NOUN
fsr-3773	122	42	averages	average	NOUN
fsr-3773	122	43	,	,	PUNCT
fsr-3773	122	44	although	although	SCONJ
fsr-3773	122	45	market	market	NOUN
fsr-3773	122	46	portfolio	portfolio	NOUN
fsr-3773	122	47	betas	beta	NOUN
fsr-3773	122	48	range	range	VERB
fsr-3773	122	49	from	from	ADP
fsr-3773	122	50	less	less	ADJ
fsr-3773	122	51	than	than	ADP
fsr-3773	122	52	0.5	0.5	NUM
fsr-3773	122	53	to	to	ADP
fsr-3773	122	54	table	table	NOUN
fsr-3773	122	55	4	4	NUM
fsr-3773	122	56	summary	summary	NOUN
fsr-3773	122	57	statistics	statistic	NOUN
fsr-3773	122	58	for	for	ADP
fsr-3773	122	59	the	the	DET
fsr-3773	122	60	difference	difference	NOUN
fsr-3773	122	61	in	in	ADP
fsr-3773	122	62	monthly	monthly	ADJ
fsr-3773	122	63	average	average	ADJ
fsr-3773	122	64	preand	preand	NOUN
fsr-3773	122	65	post	post	ADJ
fsr-3773	122	66	-	-	ADJ
fsr-3773	122	67	closing	closing	ADJ
fsr-3773	122	68	excess	excess	ADJ
fsr-3773	122	69	returns	return	NOUN
fsr-3773	122	70	returns	return	NOUN
fsr-3773	122	71	are	be	AUX
fsr-3773	122	72	estimated	estimate	VERB
fsr-3773	122	73	using	use	VERB
fsr-3773	122	74	jensen	jensen	PROPN
fsr-3773	122	75	’s	’s	PART
fsr-3773	122	76	alpha	alpha	NOUN
fsr-3773	122	77	using	use	VERB
fsr-3773	122	78	two	two	NUM
fsr-3773	122	79	types	type	NOUN
fsr-3773	122	80	of	of	ADP
fsr-3773	122	81	benchmark	benchmark	NOUN
fsr-3773	122	82	portfolios	portfolio	NOUN
fsr-3773	122	83	,	,	PUNCT
fsr-3773	122	84	a	a	DET
fsr-3773	122	85	market	market	NOUN
fsr-3773	122	86	portfolio	portfolio	NOUN
fsr-3773	122	87	(	(	PUNCT
fsr-3773	122	88	panel	panel	NOUN
fsr-3773	122	89	a	a	NOUN
fsr-3773	122	90	)	)	PUNCT
fsr-3773	122	91	and	and	CCONJ
fsr-3773	122	92	an	an	DET
fsr-3773	122	93	objective	objective	ADJ
fsr-3773	122	94	portfolio	portfolio	NOUN
fsr-3773	122	95	(	(	PUNCT
fsr-3773	122	96	panel	panel	NOUN
fsr-3773	122	97	b	b	NOUN
fsr-3773	122	98	)	)	PUNCT
fsr-3773	122	99	.	.	PUNCT
fsr-3773	123	1	the	the	DET
fsr-3773	123	2	t	t	PROPN
fsr-3773	123	3	-	-	PUNCT
fsr-3773	123	4	statistic	statistic	NOUN
fsr-3773	123	5	and	and	CCONJ
fsr-3773	123	6	two	two	NUM
fsr-3773	123	7	-	-	PUNCT
fsr-3773	123	8	tailed	tail	VERB
fsr-3773	123	9	significance	significance	NOUN
fsr-3773	123	10	level	level	NOUN
fsr-3773	123	11	for	for	ADP
fsr-3773	123	12	testing	test	VERB
fsr-3773	123	13	whether	whether	SCONJ
fsr-3773	123	14	the	the	DET
fsr-3773	123	15	average	average	ADJ
fsr-3773	123	16	difference	difference	NOUN
fsr-3773	123	17	is	be	AUX
fsr-3773	123	18	different	different	ADJ
fsr-3773	123	19	than	than	SCONJ
fsr-3773	123	20	zero	zero	NUM
fsr-3773	123	21	are	be	AUX
fsr-3773	123	22	also	also	ADV
fsr-3773	123	23	reported	report	VERB
fsr-3773	123	24	.	.	PUNCT
fsr-3773	124	1	panel	panel	NOUN
fsr-3773	124	2	a	a	DET
fsr-3773	124	3	the	the	DET
fsr-3773	124	4	s&p	s&p	PROPN
fsr-3773	124	5	500	500	NUM
fsr-3773	124	6	index	index	NOUN
fsr-3773	124	7	is	be	AUX
fsr-3773	124	8	used	use	VERB
fsr-3773	124	9	as	as	ADP
fsr-3773	124	10	the	the	DET
fsr-3773	124	11	benchmark	benchmark	NOUN
fsr-3773	124	12	portfolio	portfolio	NOUN
fsr-3773	124	13	for	for	ADP
fsr-3773	124	14	equity	equity	NOUN
fsr-3773	124	15	funds	fund	NOUN
fsr-3773	124	16	.	.	PUNCT
fsr-3773	125	1	a	a	DET
fsr-3773	125	2	50/50	50/50	NUM
fsr-3773	125	3	mix	mix	NOUN
fsr-3773	125	4	of	of	ADP
fsr-3773	125	5	the	the	DET
fsr-3773	125	6	lehman	lehman	PROPN
fsr-3773	125	7	brother	brother	PROPN
fsr-3773	125	8	aggregate	aggregate	ADJ
fsr-3773	125	9	bond	bond	NOUN
fsr-3773	125	10	index	index	NOUN
fsr-3773	125	11	and	and	CCONJ
fsr-3773	125	12	s&p	s&p	PROPN
fsr-3773	125	13	500	500	NUM
fsr-3773	125	14	index	index	NOUN
fsr-3773	125	15	is	be	AUX
fsr-3773	125	16	used	use	VERB
fsr-3773	125	17	for	for	ADP
fsr-3773	125	18	hybridfunds	hybridfund	NOUN
fsr-3773	125	19	.	.	PUNCT
fsr-3773	126	1	mean	mean	VERB
fsr-3773	127	1	-0.60	-0.60	NUM
fsr-3773	127	2	%	%	NOUN
fsr-3773	127	3	standard	standard	ADJ
fsr-3773	127	4	deviation	deviation	NOUN
fsr-3773	127	5	1.11	1.11	NUM
fsr-3773	127	6	t	t	NOUN
fsr-3773	127	7	-	-	PUNCT
fsr-3773	127	8	statistic	statistic	NOUN
fsr-3773	127	9	-2.72	-2.72	NOUN
fsr-3773	127	10	*	*	PUNCT
fsr-3773	127	11	*	*	PUNCT
fsr-3773	127	12	*	*	PUNCT
fsr-3773	127	13	median	median	ADJ
fsr-3773	127	14	-0.46	-0.46	NUM
fsr-3773	127	15	%	%	NOUN
fsr-3773	127	16	maximum	maximum	ADJ
fsr-3773	127	17	2.99	2.99	NUM
fsr-3773	127	18	%	%	NOUN
fsr-3773	127	19	minimum	minimum	ADJ
fsr-3773	127	20	-4.02	-4.02	ADJ
fsr-3773	127	21	%	%	NOUN
fsr-3773	127	22	panel	panel	NOUN
fsr-3773	127	23	b	b	PROPN
fsr-3773	127	24	the	the	DET
fsr-3773	127	25	average	average	NOUN
fsr-3773	127	26	of	of	ADP
fsr-3773	127	27	allfunds	allfund	NOUN
fsr-3773	127	28	with	with	ADP
fsr-3773	127	29	similar	similar	ADJ
fsr-3773	127	30	investment	investment	NOUN
fsr-3773	127	31	objective	objective	NOUN
fsr-3773	127	32	is	be	AUX
fsr-3773	127	33	used	use	VERB
fsr-3773	127	34	as	as	ADP
fsr-3773	127	35	the	the	DET
fsr-3773	127	36	benchmark	benchmark	NOUN
fsr-3773	127	37	portfolio	portfolio	NOUN
fsr-3773	127	38	for	for	ADP
fsr-3773	127	39	each	each	DET
fsr-3773	127	40	fund	fund	NOUN
fsr-3773	127	41	.	.	PUNCT
fsr-3773	128	1	mean	mean	VERB
fsr-3773	128	2	difference	difference	NOUN
fsr-3773	128	3	-0.47	-0.47	PRON
fsr-3773	128	4	%	%	NOUN
fsr-3773	128	5	standard	standard	ADJ
fsr-3773	128	6	deviation	deviation	NOUN
fsr-3773	128	7	0.72	0.72	NUM
fsr-3773	128	8	t	t	NOUN
fsr-3773	128	9	-	-	PUNCT
fsr-3773	128	10	statistic	statistic	NOUN
fsr-3773	128	11	-3.27	-3.27	NOUN
fsr-3773	128	12	*	*	NOUN
fsr-3773	128	13	*	*	ADJ
fsr-3773	128	14	*	*	PUNCT
fsr-3773	128	15	median	median	ADJ
fsr-3773	128	16	difference	difference	NOUN
fsr-3773	129	1	-0.57	-0.57	X
fsr-3773	129	2	%	%	NOUN
fsr-3773	129	3	maximum	maximum	ADJ
fsr-3773	129	4	difference	difference	NOUN
fsr-3773	129	5	2.42	2.42	NUM
fsr-3773	129	6	%	%	NOUN
fsr-3773	129	7	minimum	minimum	ADJ
fsr-3773	129	8	difference	difference	NOUN
fsr-3773	129	9	-1.43	-1.43	NOUN
fsr-3773	129	10	%	%	NOUN
fsr-3773	129	11	note	note	NOUN
fsr-3773	129	12	:	:	PUNCT
fsr-3773	129	13	*	*	PUNCT
fsr-3773	129	14	*	*	PUNCT
fsr-3773	129	15	*	*	PUNCT
fsr-3773	129	16	significant	significant	ADJ
fsr-3773	129	17	at	at	ADP
fsr-3773	129	18	the	the	DET
fsr-3773	129	19	1	1	NUM
fsr-3773	129	20	%	%	NOUN
fsr-3773	129	21	level	level	NOUN
fsr-3773	129	22	.	.	PUNCT
fsr-3773	130	1	fund	fund	NOUN
fsr-3773	130	2	closings	closing	NOUN
fsr-3773	130	3	as	as	ADP
fsr-3773	130	4	a	a	DET
fsr-3773	130	5	signal	signal	NOUN
fsr-3773	130	6	to	to	ADP
fsr-3773	130	7	investors	investor	NOUN
fsr-3773	130	8	19	19	NUM
fsr-3773	130	9	nearly	nearly	ADV
fsr-3773	130	10	1	1	NUM
fsr-3773	130	11	so	so	ADV
fsr-3773	130	12	.	.	PUNCT
fsr-3773	131	1	the	the	DET
fsr-3773	131	2	mean	mean	ADJ
fsr-3773	131	3	pre	pre	ADJ
fsr-3773	131	4	-	-	ADJ
fsr-3773	131	5	closing	closing	ADJ
fsr-3773	131	6	betas	beta	NOUN
fsr-3773	131	7	were	be	AUX
fsr-3773	131	8	0.83	0.83	NUM
fsr-3773	131	9	and	and	CCONJ
fsr-3773	131	10	0.87	0.87	NUM
fsr-3773	131	11	relative	relative	ADJ
fsr-3773	131	12	to	to	ADP
fsr-3773	131	13	the	the	DET
fsr-3773	131	14	market	market	NOUN
fsr-3773	131	15	benchmark	benchmark	NOUN
fsr-3773	131	16	and	and	CCONJ
fsr-3773	131	17	the	the	DET
fsr-3773	131	18	peer	peer	NOUN
fsr-3773	131	19	group	group	NOUN
fsr-3773	131	20	benchmark	benchmark	NOUN
fsr-3773	131	21	,	,	PUNCT
fsr-3773	131	22	respectively	respectively	ADV
fsr-3773	131	23	.	.	PUNCT
fsr-3773	132	1	the	the	DET
fsr-3773	132	2	mean	mean	ADJ
fsr-3773	132	3	post	post	ADJ
fsr-3773	132	4	-	-	ADJ
fsr-3773	132	5	closing	closing	ADJ
fsr-3773	132	6	betas	beta	NOUN
fsr-3773	132	7	were	be	AUX
fsr-3773	132	8	0.79	0.79	NUM
fsr-3773	132	9	and	and	CCONJ
fsr-3773	132	10	0.89	0.89	NUM
fsr-3773	132	11	,	,	PUNCT
fsr-3773	132	12	respectively	respectively	ADV
fsr-3773	132	13	.	.	PUNCT
fsr-3773	133	1	the	the	DET
fsr-3773	133	2	reported	report	VERB
fsr-3773	133	3	t	t	PROPN
fsr-3773	133	4	-	-	PUNCT
fsr-3773	133	5	statistics	statistic	NOUN
fsr-3773	133	6	in	in	ADP
fsr-3773	133	7	table	table	NOUN
fsr-3773	133	8	3	3	NUM
fsr-3773	133	9	test	test	NOUN
fsr-3773	133	10	whether	whether	SCONJ
fsr-3773	133	11	the	the	DET
fsr-3773	133	12	mean	mean	ADJ
fsr-3773	133	13	beta	beta	NOUN
fsr-3773	133	14	is	be	AUX
fsr-3773	133	15	significantly	significantly	ADV
fsr-3773	133	16	different	different	ADJ
fsr-3773	133	17	than	than	ADP
fsr-3773	133	18	1	1	NUM
fsr-3773	133	19	.	.	PUNCT
fsr-3773	134	1	only	only	ADV
fsr-3773	134	2	the	the	DET
fsr-3773	134	3	post	post	ADJ
fsr-3773	134	4	-	-	ADJ
fsr-3773	134	5	closing	closing	ADJ
fsr-3773	134	6	peer	peer	NOUN
fsr-3773	134	7	group	group	NOUN
fsr-3773	134	8	benchmark	benchmark	NOUN
fsr-3773	134	9	mean	mean	NOUN
fsr-3773	134	10	beta	beta	NOUN
fsr-3773	134	11	is	be	AUX
fsr-3773	134	12	not	not	PART
fsr-3773	134	13	significantly	significantly	ADV
fsr-3773	134	14	different	different	ADJ
fsr-3773	134	15	than	than	ADP
fsr-3773	134	16	1	1	NUM
fsr-3773	134	17	at	at	ADP
fsr-3773	134	18	the	the	DET
fsr-3773	134	19	5	5	NUM
fsr-3773	134	20	%	%	NOUN
fsr-3773	134	21	level	level	NOUN
fsr-3773	134	22	.	.	PUNCT
fsr-3773	135	1	it	it	PRON
fsr-3773	135	2	is	be	AUX
fsr-3773	135	3	somewhat	somewhat	ADV
fsr-3773	135	4	surprising	surprising	ADJ
fsr-3773	135	5	that	that	SCONJ
fsr-3773	135	6	the	the	DET
fsr-3773	135	7	funds	fund	NOUN
fsr-3773	135	8	in	in	ADP
fsr-3773	135	9	our	our	PRON
fsr-3773	135	10	sample	sample	NOUN
fsr-3773	135	11	are	be	AUX
fsr-3773	135	12	somewhat	somewhat	ADV
fsr-3773	135	13	less	less	ADV
fsr-3773	135	14	risky	risky	ADJ
fsr-3773	135	15	than	than	ADP
fsr-3773	135	16	average	average	ADJ
fsr-3773	135	17	,	,	PUNCT
fsr-3773	135	18	given	give	VERB
fsr-3773	135	19	that	that	SCONJ
fsr-3773	135	20	10	10	NUM
fsr-3773	135	21	of	of	ADP
fsr-3773	135	22	the	the	DET
fsr-3773	135	23	funds	fund	NOUN
fsr-3773	135	24	are	be	AUX
fsr-3773	135	25	aggressive	aggressive	ADJ
fsr-3773	135	26	growth	growth	NOUN
fsr-3773	135	27	,	,	PUNCT
fsr-3773	135	28	small	small	ADJ
fsr-3773	135	29	-	-	PUNCT
fsr-3773	135	30	company	company	NOUN
fsr-3773	135	31	,	,	PUNCT
fsr-3773	135	32	or	or	CCONJ
fsr-3773	135	33	specialty	specialty	NOUN
fsr-3773	135	34	funds	fund	NOUN
fsr-3773	135	35	.	.	PUNCT
fsr-3773	136	1	it	it	PRON
fsr-3773	136	2	may	may	AUX
fsr-3773	136	3	be	be	AUX
fsr-3773	136	4	that	that	SCONJ
fsr-3773	136	5	the	the	DET
fsr-3773	136	6	buildup	buildup	NOUN
fsr-3773	136	7	in	in	ADP
fsr-3773	136	8	cash	cash	NOUN
fsr-3773	136	9	of	of	ADP
fsr-3773	136	10	these	these	DET
fsr-3773	136	11	funds	fund	NOUN
fsr-3773	136	12	prior	prior	ADV
fsr-3773	136	13	to	to	ADP
fsr-3773	136	14	closing	closing	NOUN
fsr-3773	136	15	reduces	reduce	VERB
fsr-3773	136	16	the	the	DET
fsr-3773	136	17	systematic	systematic	ADJ
fsr-3773	136	18	risk	risk	NOUN
fsr-3773	136	19	of	of	ADP
fsr-3773	136	20	the	the	DET
fsr-3773	136	21	portfolios	portfolio	NOUN
fsr-3773	136	22	.	.	PUNCT
fsr-3773	137	1	d.	d.	PROPN
fsr-3773	137	2	change	change	VERB
fsr-3773	137	3	in	in	ADP
fsr-3773	137	4	investment	investment	NOUN
fsr-3773	137	5	performance	performance	NOUN
fsr-3773	137	6	after	after	ADP
fsr-3773	137	7	closing	close	VERB
fsr-3773	137	8	in	in	ADP
fsr-3773	137	9	table	table	NOUN
fsr-3773	137	10	4	4	NUM
fsr-3773	137	11	,	,	PUNCT
fsr-3773	137	12	we	we	PRON
fsr-3773	137	13	test	test	VERB
fsr-3773	137	14	whether	whether	SCONJ
fsr-3773	137	15	the	the	DET
fsr-3773	137	16	mean	mean	ADJ
fsr-3773	137	17	post	post	ADJ
fsr-3773	137	18	-	-	ADJ
fsr-3773	137	19	closing	closing	ADJ
fsr-3773	137	20	alphas	alpha	NOUN
fsr-3773	137	21	are	be	AUX
fsr-3773	137	22	different	different	ADJ
fsr-3773	137	23	than	than	ADP
fsr-3773	137	24	the	the	DET
fsr-3773	137	25	pre	pre	ADJ
fsr-3773	137	26	-	-	ADJ
fsr-3773	137	27	closing	closing	ADJ
fsr-3773	137	28	alphas	alpha	NOUN
fsr-3773	137	29	.	.	PUNCT
fsr-3773	138	1	using	use	VERB
fsr-3773	138	2	the	the	DET
fsr-3773	138	3	market	market	NOUN
fsr-3773	138	4	benchmark	benchmark	NOUN
fsr-3773	138	5	portfolio	portfolio	NOUN
fsr-3773	138	6	,	,	PUNCT
fsr-3773	138	7	post	post	ADJ
fsr-3773	138	8	-	-	ADJ
fsr-3773	138	9	closing	closing	ADJ
fsr-3773	138	10	monthly	monthly	ADJ
fsr-3773	138	11	excess	excess	ADJ
fsr-3773	138	12	returns	return	NOUN
fsr-3773	138	13	are	be	AUX
fsr-3773	138	14	0.60	0.60	NUM
fsr-3773	138	15	%	%	NOUN
fsr-3773	138	16	less	less	ADJ
fsr-3773	138	17	than	than	ADP
fsr-3773	138	18	pre	pre	ADJ
fsr-3773	138	19	-	-	ADJ
fsr-3773	138	20	closing	closing	ADJ
fsr-3773	138	21	excess	excess	ADJ
fsr-3773	138	22	returns	return	NOUN
fsr-3773	138	23	,	,	PUNCT
fsr-3773	138	24	which	which	PRON
fsr-3773	138	25	is	be	AUX
fsr-3773	138	26	significantly	significantly	ADV
fsr-3773	138	27	different	different	ADJ
fsr-3773	138	28	from	from	ADP
fsr-3773	138	29	zero	zero	NUM
fsr-3773	138	30	at	at	ADP
fsr-3773	138	31	the	the	DET
fsr-3773	138	32	1	1	NUM
fsr-3773	138	33	%	%	NOUN
fsr-3773	138	34	level	level	NOUN
fsr-3773	138	35	.	.	PUNCT
fsr-3773	139	1	using	use	VERB
fsr-3773	139	2	the	the	DET
fsr-3773	139	3	peer	peer	NOUN
fsr-3773	139	4	group	group	NOUN
fsr-3773	139	5	benchmark	benchmark	NOUN
fsr-3773	139	6	portfolio	portfolio	NOUN
fsr-3773	139	7	,	,	PUNCT
fsr-3773	139	8	post	post	ADJ
fsr-3773	139	9	-	-	ADJ
fsr-3773	139	10	closing	closing	ADJ
fsr-3773	139	11	monthly	monthly	ADJ
fsr-3773	139	12	excess	excess	ADJ
fsr-3773	139	13	returns	return	NOUN
fsr-3773	139	14	are	be	AUX
fsr-3773	139	15	0.47	0.47	NUM
fsr-3773	139	16	%	%	NOUN
fsr-3773	139	17	less	less	ADJ
fsr-3773	139	18	than	than	ADP
fsr-3773	139	19	pre	pre	ADJ
fsr-3773	139	20	-	-	ADJ
fsr-3773	139	21	closing	closing	ADJ
fsr-3773	139	22	excess	excess	ADJ
fsr-3773	139	23	returns	return	NOUN
fsr-3773	139	24	,	,	PUNCT
fsr-3773	139	25	also	also	ADV
fsr-3773	139	26	significant	significant	ADJ
fsr-3773	139	27	at	at	ADP
fsr-3773	139	28	the	the	DET
fsr-3773	139	29	1	1	NUM
fsr-3773	139	30	%	%	NOUN
fsr-3773	139	31	level	level	NOUN
fsr-3773	139	32	.	.	PUNCT
fsr-3773	140	1	investment	investment	NOUN
fsr-3773	140	2	performance	performance	NOUN
fsr-3773	140	3	of	of	ADP
fsr-3773	140	4	the	the	DET
fsr-3773	140	5	funds	fund	NOUN
fsr-3773	140	6	in	in	ADP
fsr-3773	140	7	our	our	PRON
fsr-3773	140	8	sample	sample	NOUN
fsr-3773	140	9	declines	decline	VERB
fsr-3773	140	10	significantly	significantly	ADV
fsr-3773	140	11	on	on	ADP
fsr-3773	140	12	average	average	ADJ
fsr-3773	140	13	after	after	ADP
fsr-3773	140	14	the	the	DET
fsr-3773	140	15	closing	closing	NOUN
fsr-3773	140	16	of	of	ADP
fsr-3773	140	17	the	the	DET
fsr-3773	140	18	funds	fund	NOUN
fsr-3773	140	19	to	to	ADP
fsr-3773	140	20	new	new	ADJ
fsr-3773	140	21	investors	investor	NOUN
fsr-3773	140	22	.	.	PUNCT
fsr-3773	141	1	v.	v.	ADP
fsr-3773	141	2	conclusion	conclusion	NOUN
fsr-3773	141	3	the	the	DET
fsr-3773	141	4	purpose	purpose	NOUN
fsr-3773	141	5	of	of	ADP
fsr-3773	141	6	this	this	DET
fsr-3773	141	7	paper	paper	NOUN
fsr-3773	141	8	was	be	AUX
fsr-3773	141	9	to	to	PART
fsr-3773	141	10	analyze	analyze	VERB
fsr-3773	141	11	the	the	DET
fsr-3773	141	12	investment	investment	NOUN
fsr-3773	141	13	performance	performance	NOUN
fsr-3773	141	14	of	of	ADP
fsr-3773	141	15	open	open	ADJ
fsr-3773	141	16	-	-	PUNCT
fsr-3773	141	17	end	end	NOUN
fsr-3773	141	18	mutual	mutual	ADJ
fsr-3773	141	19	funds	fund	NOUN
fsr-3773	141	20	that	that	PRON
fsr-3773	141	21	closed	close	VERB
fsr-3773	141	22	to	to	ADP
fsr-3773	141	23	new	new	ADJ
fsr-3773	141	24	investors	investor	NOUN
fsr-3773	141	25	.	.	PUNCT
fsr-3773	142	1	we	we	PRON
fsr-3773	142	2	report	report	VERB
fsr-3773	142	3	three	three	NUM
fsr-3773	142	4	important	important	ADJ
fsr-3773	142	5	results	result	NOUN
fsr-3773	142	6	based	base	VERB
fsr-3773	142	7	on	on	ADP
fsr-3773	142	8	an	an	DET
fsr-3773	142	9	analysis	analysis	NOUN
fsr-3773	142	10	of	of	ADP
fsr-3773	142	11	25	25	NUM
fsr-3773	142	12	funds	fund	NOUN
fsr-3773	142	13	that	that	PRON
fsr-3773	142	14	closed	close	VERB
fsr-3773	142	15	to	to	ADP
fsr-3773	142	16	new	new	ADJ
fsr-3773	142	17	investors	investor	NOUN
fsr-3773	142	18	between	between	ADP
fsr-3773	142	19	1982	1982	NUM
fsr-3773	142	20	and	and	CCONJ
fsr-3773	142	21	1991	1991	NUM
fsr-3773	142	22	:	:	PUNCT
fsr-3773	143	1	1	1	X
fsr-3773	143	2	.	.	PUNCT
fsr-3773	143	3	the	the	DET
fsr-3773	143	4	average	average	ADJ
fsr-3773	143	5	excess	excess	ADJ
fsr-3773	143	6	return	return	NOUN
fsr-3773	143	7	was	be	AUX
fsr-3773	143	8	positive	positive	ADJ
fsr-3773	143	9	in	in	ADP
fsr-3773	143	10	the	the	DET
fsr-3773	143	11	24	24	NUM
fsr-3773	143	12	months	month	NOUN
fsr-3773	143	13	prior	prior	ADV
fsr-3773	143	14	to	to	ADP
fsr-3773	143	15	the	the	DET
fsr-3773	143	16	closings	closing	NOUN
fsr-3773	143	17	.	.	PUNCT
fsr-3773	144	1	2	2	X
fsr-3773	144	2	.	.	X
fsr-3773	144	3	the	the	DET
fsr-3773	144	4	average	average	ADJ
fsr-3773	144	5	excess	excess	ADJ
fsr-3773	144	6	return	return	NOUN
fsr-3773	144	7	was	be	AUX
fsr-3773	144	8	not	not	PART
fsr-3773	144	9	significantly	significantly	ADV
fsr-3773	144	10	different	different	ADJ
fsr-3773	144	11	from	from	ADP
fsr-3773	144	12	zero	zero	NUM
fsr-3773	144	13	in	in	ADP
fsr-3773	144	14	the	the	DET
fsr-3773	144	15	24	24	NUM
fsr-3773	144	16	months	month	NOUN
fsr-3773	144	17	after	after	ADP
fsr-3773	144	18	the	the	DET
fsr-3773	144	19	closings	closing	NOUN
fsr-3773	144	20	.	.	PUNCT
fsr-3773	145	1	3	3	X
fsr-3773	145	2	.	.	X
fsr-3773	145	3	the	the	DET
fsr-3773	145	4	funds	fund	NOUN
fsr-3773	145	5	in	in	ADP
fsr-3773	145	6	the	the	DET
fsr-3773	145	7	sample	sample	NOUN
fsr-3773	145	8	on	on	ADP
fsr-3773	145	9	average	average	ADJ
fsr-3773	145	10	exhibited	exhibit	VERB
fsr-3773	145	11	a	a	DET
fsr-3773	145	12	significant	significant	ADJ
fsr-3773	145	13	decline	decline	NOUN
fsr-3773	145	14	in	in	ADP
fsr-3773	145	15	investment	investment	NOUN
fsr-3773	145	16	performance	performance	NOUN
fsr-3773	145	17	after	after	ADP
fsr-3773	145	18	the	the	DET
fsr-3773	145	19	closing	closing	NOUN
fsr-3773	145	20	.	.	PUNCT
fsr-3773	146	1	this	this	PRON
fsr-3773	146	2	suggests	suggest	VERB
fsr-3773	146	3	that	that	SCONJ
fsr-3773	146	4	the	the	DET
fsr-3773	146	5	fund	fund	NOUN
fsr-3773	146	6	manager	manager	NOUN
fsr-3773	146	7	’s	’s	PART
fsr-3773	146	8	strategic	strategic	ADJ
fsr-3773	146	9	decision	decision	NOUN
fsr-3773	146	10	to	to	PART
fsr-3773	146	11	close	close	VERB
fsr-3773	146	12	the	the	DET
fsr-3773	146	13	fund	fund	NOUN
fsr-3773	146	14	in	in	ADP
fsr-3773	146	15	order	order	NOUN
fsr-3773	146	16	to	to	PART
fsr-3773	146	17	slow	slow	VERB
fsr-3773	146	18	down	down	ADP
fsr-3773	146	19	the	the	DET
fsr-3773	146	20	growth	growth	NOUN
fsr-3773	146	21	in	in	ADP
fsr-3773	146	22	net	net	ADJ
fsr-3773	146	23	assets	asset	NOUN
fsr-3773	146	24	did	do	AUX
fsr-3773	146	25	not	not	PART
fsr-3773	146	26	prevent	prevent	VERB
fsr-3773	146	27	investment	investment	NOUN
fsr-3773	146	28	performance	performance	NOUN
fsr-3773	146	29	from	from	ADP
fsr-3773	146	30	declining	decline	VERB
fsr-3773	146	31	.	.	PUNCT
fsr-3773	147	1	this	this	DET
fsr-3773	147	2	decline	decline	NOUN
fsr-3773	147	3	in	in	ADP
fsr-3773	147	4	performance	performance	NOUN
fsr-3773	147	5	may	may	AUX
fsr-3773	147	6	have	have	AUX
fsr-3773	147	7	occurred	occur	VERB
fsr-3773	147	8	because	because	SCONJ
fsr-3773	147	9	the	the	DET
fsr-3773	147	10	dollar	dollar	NOUN
fsr-3773	147	11	flow	flow	VERB
fsr-3773	147	12	into	into	ADP
fsr-3773	147	13	the	the	DET
fsr-3773	147	14	fund	fund	NOUN
fsr-3773	147	15	outstripped	outstrip	VERB
fsr-3773	147	16	the	the	DET
fsr-3773	147	17	fund	fund	NOUN
fsr-3773	147	18	’s	’s	PART
fsr-3773	147	19	investment	investment	NOUN
fsr-3773	147	20	opportunities	opportunity	NOUN
fsr-3773	147	21	and	and	CCONJ
fsr-3773	147	22	the	the	DET
fsr-3773	147	23	funds	fund	NOUN
fsr-3773	147	24	closed	close	VERB
fsr-3773	147	25	too	too	ADV
fsr-3773	147	26	late	late	ADJ
fsr-3773	147	27	to	to	PART
fsr-3773	147	28	shut	shut	VERB
fsr-3773	147	29	off	off	ADP
fsr-3773	147	30	the	the	DET
fsr-3773	147	31	flow	flow	NOUN
fsr-3773	147	32	of	of	ADP
fsr-3773	147	33	funds	fund	NOUN
fsr-3773	147	34	.	.	PUNCT
fsr-3773	148	1	a	a	DET
fsr-3773	148	2	number	number	NOUN
fsr-3773	148	3	of	of	ADP
fsr-3773	148	4	the	the	DET
fsr-3773	148	5	funds	fund	NOUN
fsr-3773	148	6	that	that	PRON
fsr-3773	148	7	close	close	VERB
fsr-3773	148	8	invest	invest	NOUN
fsr-3773	148	9	in	in	ADP
fsr-3773	148	10	high	high	ADJ
fsr-3773	148	11	-	-	PUNCT
fsr-3773	148	12	yield	yield	NOUN
fsr-3773	148	13	,	,	PUNCT
fsr-3773	148	14	specialized	specialized	ADJ
fsr-3773	148	15	industry	industry	NOUN
fsr-3773	148	16	,	,	PUNCT
fsr-3773	148	17	or	or	CCONJ
fsr-3773	148	18	small	small	ADJ
fsr-3773	148	19	-	-	PUNCT
fsr-3773	148	20	company	company	NOUN
fsr-3773	148	21	securities	security	NOUN
fsr-3773	148	22	.	.	PUNCT
fsr-3773	149	1	because	because	SCONJ
fsr-3773	149	2	there	there	PRON
fsr-3773	149	3	are	be	VERB
fsr-3773	149	4	a	a	DET
fsr-3773	149	5	limited	limited	ADJ
fsr-3773	149	6	number	number	NOUN
fsr-3773	149	7	of	of	ADP
fsr-3773	149	8	undervalued	undervalued	ADJ
fsr-3773	149	9	securities	security	NOUN
fsr-3773	149	10	in	in	ADP
fsr-3773	149	11	these	these	DET
fsr-3773	149	12	categories	category	NOUN
fsr-3773	149	13	,	,	PUNCT
fsr-3773	149	14	a	a	DET
fsr-3773	149	15	fund	fund	NOUN
fsr-3773	149	16	manager	manager	NOUN
fsr-3773	149	17	may	may	AUX
fsr-3773	149	18	have	have	VERB
fsr-3773	149	19	too	too	ADV
fsr-3773	149	20	many	many	ADJ
fsr-3773	149	21	dollars	dollar	NOUN
fsr-3773	149	22	chasing	chase	VERB
fsr-3773	149	23	too	too	ADV
fsr-3773	149	24	few	few	ADJ
fsr-3773	149	25	good	good	ADJ
fsr-3773	149	26	opportu	opportu	ADJ
fsr-3773	149	27	nities	nitie	NOUN
fsr-3773	149	28	.	.	PUNCT
fsr-3773	150	1	this	this	DET
fsr-3773	150	2	decline	decline	NOUN
fsr-3773	150	3	in	in	ADP
fsr-3773	150	4	performance	performance	NOUN
fsr-3773	150	5	may	may	AUX
fsr-3773	150	6	also	also	ADV
fsr-3773	150	7	be	be	AUX
fsr-3773	150	8	the	the	DET
fsr-3773	150	9	result	result	NOUN
fsr-3773	150	10	of	of	ADP
fsr-3773	150	11	the	the	DET
fsr-3773	150	12	form	form	NOUN
fsr-3773	150	13	of	of	ADP
fsr-3773	150	14	the	the	DET
fsr-3773	150	15	fund	fund	NOUN
fsr-3773	150	16	manager	manager	NOUN
fsr-3773	150	17	’s	’s	PART
fsr-3773	150	18	compensation	compensation	NOUN
fsr-3773	150	19	.	.	PUNCT
fsr-3773	151	1	because	because	SCONJ
fsr-3773	151	2	compensation	compensation	NOUN
fsr-3773	151	3	is	be	AUX
fsr-3773	151	4	typically	typically	ADV
fsr-3773	151	5	tied	tie	VERB
fsr-3773	151	6	only	only	ADV
fsr-3773	151	7	to	to	ADP
fsr-3773	151	8	the	the	DET
fsr-3773	151	9	asset	asset	NOUN
fsr-3773	151	10	size	size	NOUN
fsr-3773	151	11	of	of	ADP
fsr-3773	151	12	the	the	DET
fsr-3773	151	13	fund	fund	NOUN
fsr-3773	151	14	and	and	CCONJ
fsr-3773	151	15	since	since	SCONJ
fsr-3773	151	16	closing	close	VERB
fsr-3773	151	17	the	the	DET
fsr-3773	151	18	fund	fund	NOUN
fsr-3773	151	19	limits	limit	VERB
fsr-3773	151	20	net	net	ADJ
fsr-3773	151	21	asset	asset	NOUN
fsr-3773	151	22	growth	growth	NOUN
fsr-3773	151	23	,	,	PUNCT
fsr-3773	151	24	incentives	incentive	NOUN
fsr-3773	151	25	for	for	SCONJ
fsr-3773	151	26	fund	fund	NOUN
fsr-3773	151	27	managers	manager	NOUN
fsr-3773	151	28	to	to	PART
fsr-3773	151	29	maximize	maximize	VERB
fsr-3773	151	30	returns	return	NOUN
fsr-3773	151	31	are	be	AUX
fsr-3773	151	32	reduced	reduce	VERB
fsr-3773	151	33	this	this	PRON
fsr-3773	151	34	represents	represent	VERB
fsr-3773	151	35	an	an	DET
fsr-3773	151	36	area	area	NOUN
fsr-3773	151	37	of	of	ADP
fsr-3773	151	38	future	future	ADJ
fsr-3773	151	39	research	research	NOUN
fsr-3773	151	40	.	.	PUNCT
fsr-3773	152	1	whatever	whatever	PRON
fsr-3773	152	2	the	the	DET
fsr-3773	152	3	reason	reason	NOUN
fsr-3773	152	4	for	for	ADP
fsr-3773	152	5	the	the	DET
fsr-3773	152	6	decline	decline	NOUN
fsr-3773	152	7	in	in	ADP
fsr-3773	152	8	investment	investment	NOUN
fsr-3773	152	9	performance	performance	NOUN
fsr-3773	152	10	,	,	PUNCT
fsr-3773	152	11	the	the	DET
fsr-3773	152	12	individual	individual	ADJ
fsr-3773	152	13	investor	investor	NOUN
fsr-3773	152	14	should	should	AUX
fsr-3773	152	15	interpret	interpret	VERB
fsr-3773	152	16	an	an	DET
fsr-3773	152	17	impending	impending	ADJ
fsr-3773	152	18	closing	closing	NOUN
fsr-3773	152	19	as	as	ADP
fsr-3773	152	20	a	a	DET
fsr-3773	152	21	signal	signal	NOUN
fsr-3773	152	22	not	not	PART
fsr-3773	152	23	to	to	PART
fsr-3773	152	24	invest	invest	VERB
fsr-3773	152	25	in	in	ADP
fsr-3773	152	26	the	the	DET
fsr-3773	152	27	fund	fund	NOUN
fsr-3773	152	28	.	.	PUNCT
fsr-3773	153	1	it	it	PRON
fsr-3773	153	2	is	be	AUX
fsr-3773	153	3	also	also	ADV
fsr-3773	153	4	a	a	DET
fsr-3773	153	5	signal	signal	NOUN
fsr-3773	153	6	that	that	SCONJ
fsr-3773	153	7	current	current	ADJ
fsr-3773	153	8	shareholders	shareholder	NOUN
fsr-3773	153	9	consider	consider	VERB
fsr-3773	153	10	alternative	alternative	ADJ
fsr-3773	153	11	investments	investment	NOUN
fsr-3773	153	12	.	.	PUNCT
fsr-3773	154	1	80	80	NUM
fsr-3773	154	2	financial	financial	ADJ
fsr-3773	154	3	services	service	NOUN
fsr-3773	154	4	review	review	NOUN
fsr-3773	154	5	4(2	4(2	NUM
fsr-3773	154	6	)	)	PUNCT
fsr-3773	154	7	1995	1995	NUM
fsr-3773	154	8	notes	note	VERB
fsr-3773	154	9	1	1	NUM
fsr-3773	154	10	.	.	PUNCT
fsr-3773	154	11	fund	fund	NOUN
fsr-3773	154	12	families	family	NOUN
fsr-3773	154	13	representing	represent	VERB
fsr-3773	154	14	many	many	ADJ
fsr-3773	154	15	of	of	ADP
fsr-3773	154	16	the	the	DET
fsr-3773	154	17	closed	closed	ADJ
fsr-3773	154	18	funds	fund	NOUN
fsr-3773	154	19	included	include	VERB
fsr-3773	154	20	in	in	ADP
fsr-3773	154	21	our	our	PRON
fsr-3773	154	22	sample	sample	NOUN
fsr-3773	154	23	provided	provide	VERB
fsr-3773	154	24	this	this	DET
fsr-3773	154	25	information	information	NOUN
fsr-3773	154	26	.	.	PUNCT
fsr-3773	155	1	they	they	PRON
fsr-3773	155	2	emphasized	emphasize	VERB
fsr-3773	155	3	that	that	SCONJ
fsr-3773	155	4	public	public	ADJ
fsr-3773	155	5	announcements	announcement	NOUN
fsr-3773	155	6	of	of	ADP
fsr-3773	155	7	closings	closing	NOUN
fsr-3773	155	8	were	be	AUX
fsr-3773	155	9	rare	rare	ADJ
fsr-3773	155	10	;	;	PUNCT
fsr-3773	155	11	because	because	SCONJ
fsr-3773	155	12	the	the	DET
fsr-3773	155	13	goal	goal	NOUN
fsr-3773	155	14	of	of	ADP
fsr-3773	155	15	closing	close	VERB
fsr-3773	155	16	the	the	DET
fsr-3773	155	17	fund	fund	NOUN
fsr-3773	155	18	was	be	AUX
fsr-3773	155	19	to	to	PART
fsr-3773	155	20	preserve	preserve	VERB
fsr-3773	155	21	performance	performance	NOUN
fsr-3773	155	22	and	and	CCONJ
fsr-3773	155	23	not	not	PART
fsr-3773	155	24	increase	increase	VERB
fsr-3773	155	25	the	the	DET
fsr-3773	155	26	asset	asset	NOUN
fsr-3773	155	27	size	size	NOUN
fsr-3773	155	28	,	,	PUNCT
fsr-3773	155	29	funds	fund	NOUN
fsr-3773	155	30	did	do	AUX
fsr-3773	155	31	not	not	PART
fsr-3773	155	32	want	want	VERB
fsr-3773	155	33	public	public	ADJ
fsr-3773	155	34	announcements	announcement	NOUN
fsr-3773	155	35	to	to	PART
fsr-3773	155	36	generate	generate	VERB
fsr-3773	155	37	additional	additional	ADJ
fsr-3773	155	38	investments	investment	NOUN
fsr-3773	155	39	.	.	PUNCT
fsr-3773	156	1	2	2	X
fsr-3773	156	2	.	.	X
fsr-3773	156	3	atlas	atlas	PROPN
fsr-3773	156	4	and	and	CCONJ
fsr-3773	156	5	zweig	zweig	PROPN
fsr-3773	156	6	(	(	PUNCT
fsr-3773	156	7	1993	1993	NUM
fsr-3773	156	8	)	)	PUNCT
fsr-3773	156	9	discuss	discuss	VERB
fsr-3773	156	10	several	several	ADJ
fsr-3773	156	11	methods	method	NOUN
fsr-3773	156	12	for	for	ADP
fsr-3773	156	13	investing	invest	VERB
fsr-3773	156	14	in	in	ADP
fsr-3773	156	15	funds	fund	NOUN
fsr-3773	156	16	that	that	PRON
fsr-3773	156	17	have	have	AUX
fsr-3773	156	18	closed	close	VERB
fsr-3773	156	19	to	to	ADP
fsr-3773	156	20	new	new	ADJ
fsr-3773	156	21	investors	investor	NOUN
fsr-3773	156	22	.	.	PUNCT
fsr-3773	157	1	for	for	ADP
fsr-3773	157	2	instance	instance	NOUN
fsr-3773	157	3	,	,	PUNCT
fsr-3773	157	4	buying	buy	VERB
fsr-3773	157	5	a	a	DET
fsr-3773	157	6	share	share	NOUN
fsr-3773	157	7	of	of	ADP
fsr-3773	157	8	a	a	DET
fsr-3773	157	9	closed	closed	ADJ
fsr-3773	157	10	fund	fund	NOUN
fsr-3773	157	11	from	from	ADP
fsr-3773	157	12	an	an	DET
fsr-3773	157	13	existing	exist	VERB
fsr-3773	157	14	shareholder	shareholder	NOUN
fsr-3773	157	15	entitles	entitle	VERB
fsr-3773	157	16	the	the	DET
fsr-3773	157	17	new	new	ADJ
fsr-3773	157	18	shareholder	shareholder	NOUN
fsr-3773	157	19	to	to	PART
fsr-3773	157	20	make	make	VERB
fsr-3773	157	21	additional	additional	ADJ
fsr-3773	157	22	investments	investment	NOUN
fsr-3773	157	23	.	.	PUNCT
fsr-3773	158	1	3	3	X
fsr-3773	158	2	.	.	X
fsr-3773	158	3	golec	golec	NOUN
fsr-3773	158	4	(	(	PUNCT
fsr-3773	158	5	1992	1992	NUM
fsr-3773	158	6	,	,	PUNCT
fsr-3773	158	7	pp	pp	ADJ
fsr-3773	158	8	.	.	PUNCT
fsr-3773	159	1	88	88	NUM
fsr-3773	159	2	-	-	SYM
fsr-3773	159	3	89	89	NUM
fsr-3773	159	4	)	)	PUNCT
fsr-3773	159	5	reports	report	VERB
fsr-3773	159	6	that	that	SCONJ
fsr-3773	159	7	only	only	ADV
fsr-3773	159	8	29	29	NUM
fsr-3773	159	9	of	of	ADP
fsr-3773	159	10	476	476	NUM
fsr-3773	159	11	mutual	mutual	ADJ
fsr-3773	159	12	funds	fund	NOUN
fsr-3773	159	13	included	include	VERB
fsr-3773	159	14	in	in	ADP
fsr-3773	159	15	moody	moody	PROPN
fsr-3773	159	16	’s	’s	PART
fsr-3773	159	17	bank	bank	PROPN
fsr-3773	159	18	and	and	CCONJ
fsr-3773	159	19	finance	finance	NOUN
fsr-3773	159	20	manual	manual	NOUN
fsr-3773	159	21	(	(	PUNCT
fsr-3773	159	22	1985	1985	NUM
fsr-3773	159	23	)	)	PUNCT
fsr-3773	159	24	used	use	VERB
fsr-3773	159	25	performanceor	performanceor	NOUN
fsr-3773	159	26	return	return	NOUN
fsr-3773	159	27	-	-	PUNCT
fsr-3773	159	28	based	base	VERB
fsr-3773	159	29	compensation	compensation	NOUN
fsr-3773	159	30	for	for	ADP
fsr-3773	159	31	fund	fund	NOUN
fsr-3773	159	32	managers	manager	NOUN
fsr-3773	159	33	.	.	PUNCT
fsr-3773	160	1	asset	asset	NOUN
fsr-3773	160	2	size	size	NOUN
fsr-3773	160	3	of	of	ADP
fsr-3773	160	4	the	the	DET
fsr-3773	160	5	fund	fund	NOUN
fsr-3773	160	6	was	be	AUX
fsr-3773	160	7	the	the	DET
fsr-3773	160	8	only	only	ADJ
fsr-3773	160	9	compensation	compensation	NOUN
fsr-3773	160	10	criterion	criterion	NOUN
fsr-3773	160	11	used	use	VERB
fsr-3773	160	12	for	for	ADP
fsr-3773	160	13	the	the	DET
fsr-3773	160	14	remaining	remain	VERB
fsr-3773	160	15	funds	fund	NOUN
fsr-3773	160	16	.	.	PUNCT
fsr-3773	161	1	4	4	X
fsr-3773	161	2	.	.	X
fsr-3773	161	3	determining	determine	VERB
fsr-3773	161	4	the	the	DET
fsr-3773	161	5	actual	actual	ADJ
fsr-3773	161	6	closing	closing	NOUN
fsr-3773	161	7	date	date	NOUN
fsr-3773	161	8	was	be	AUX
fsr-3773	161	9	difficult	difficult	ADJ
fsr-3773	161	10	in	in	ADP
fsr-3773	161	11	some	some	DET
fsr-3773	161	12	cases	case	NOUN
fsr-3773	161	13	.	.	PUNCT
fsr-3773	162	1	the	the	DET
fsr-3773	162	2	fund	fund	NOUN
fsr-3773	162	3	itself	itself	PRON
fsr-3773	162	4	sometimes	sometimes	ADV
fsr-3773	162	5	did	do	AUX
fsr-3773	162	6	not	not	PART
fsr-3773	162	7	have	have	VERB
fsr-3773	162	8	records	record	NOUN
fsr-3773	162	9	going	go	VERB
fsr-3773	162	10	back	back	ADV
fsr-3773	162	11	far	far	ADV
fsr-3773	162	12	enough	enough	ADV
fsr-3773	162	13	.	.	PUNCT
fsr-3773	163	1	therefore	therefore	ADV
fsr-3773	163	2	,	,	PUNCT
fsr-3773	163	3	for	for	ADP
fsr-3773	163	4	some	some	DET
fsr-3773	163	5	funds	fund	NOUN
fsr-3773	163	6	,	,	PUNCT
fsr-3773	163	7	the	the	DET
fsr-3773	163	8	closing	closing	NOUN
fsr-3773	163	9	month	month	NOUN
fsr-3773	163	10	was	be	AUX
fsr-3773	163	11	determined	determine	VERB
fsr-3773	163	12	as	as	ADP
fsr-3773	163	13	the	the	DET
fsr-3773	163	14	middle	middle	ADJ
fsr-3773	163	15	month	month	NOUN
fsr-3773	163	16	of	of	ADP
fsr-3773	163	17	the	the	DET
fsr-3773	163	18	quarter	quarter	NOUN
fsr-3773	163	19	in	in	ADP
fsr-3773	163	20	which	which	PRON
fsr-3773	163	21	the	the	DET
fsr-3773	163	22	fund	fund	NOUN
fsr-3773	163	23	was	be	AUX
fsr-3773	163	24	first	first	ADV
fsr-3773	163	25	reported	report	VERB
fsr-3773	163	26	closed	close	VERB
fsr-3773	163	27	by	by	ADP
fsr-3773	163	28	lipper	lipper	NOUN
fsr-3773	163	29	.	.	PUNCT
fsr-3773	164	1	5	5	X
fsr-3773	164	2	.	.	X
fsr-3773	164	3	momingstar	momingstar	PROPN
fsr-3773	164	4	classifies	classify	VERB
fsr-3773	164	5	funds	fund	NOUN
fsr-3773	164	6	according	accord	VERB
fsr-3773	164	7	to	to	ADP
fsr-3773	164	8	investment	investment	NOUN
fsr-3773	164	9	objective	objective	NOUN
fsr-3773	164	10	as	as	ADP
fsr-3773	164	11	equity	equity	NOUN
fsr-3773	164	12	,	,	PUNCT
fsr-3773	164	13	hybrid	hybrid	NOUN
fsr-3773	164	14	,	,	PUNCT
fsr-3773	164	15	fixed	fix	VERB
fsr-3773	164	16	-	-	PUNCT
fsr-3773	164	17	in	in	ADP
fsr-3773	164	18	come	come	NOUN
fsr-3773	164	19	(	(	PUNCT
fsr-3773	164	20	taxable	taxable	ADJ
fsr-3773	164	21	-	-	PUNCT
fsr-3773	164	22	bond	bond	NOUN
fsr-3773	164	23	)	)	PUNCT
fsr-3773	164	24	,	,	PUNCT
fsr-3773	164	25	or	or	CCONJ
fsr-3773	164	26	municipal	municipal	ADJ
fsr-3773	164	27	bond	bond	NOUN
fsr-3773	164	28	(	(	PUNCT
fsr-3773	164	29	tax	tax	NOUN
fsr-3773	164	30	-	-	PUNCT
fsr-3773	164	31	free	free	ADJ
fsr-3773	164	32	)	)	PUNCT
fsr-3773	164	33	funds	fund	NOUN
fsr-3773	164	34	.	.	PUNCT
fsr-3773	165	1	the	the	DET
fsr-3773	165	2	hybrid	hybrid	ADJ
fsr-3773	165	3	category	category	NOUN
fsr-3773	165	4	includes	include	VERB
fsr-3773	165	5	funds	fund	NOUN
fsr-3773	165	6	that	that	PRON
fsr-3773	165	7	typically	typically	ADV
fsr-3773	165	8	invest	invest	VERB
fsr-3773	165	9	in	in	ADP
fsr-3773	165	10	both	both	DET
fsr-3773	165	11	equities	equity	NOUN
fsr-3773	165	12	and	and	CCONJ
fsr-3773	165	13	bonds	bond	NOUN
fsr-3773	165	14	,	,	PUNCT
fsr-3773	165	15	as	as	ADV
fsr-3773	165	16	well	well	ADV
fsr-3773	165	17	as	as	ADP
fsr-3773	165	18	corporate	corporate	ADJ
fsr-3773	165	19	high	high	ADJ
fsr-3773	165	20	-	-	PUNCT
fsr-3773	165	21	yield	yield	NOUN
fsr-3773	165	22	(	(	PUNCT
fsr-3773	165	23	junk	junk	NOUN
fsr-3773	165	24	bond	bond	NOUN
fsr-3773	165	25	)	)	PUNCT
fsr-3773	165	26	funds	fund	NOUN
fsr-3773	165	27	.	.	PUNCT
fsr-3773	166	1	references	reference	NOUN
fsr-3773	166	2	atlas	atlas	PROPN
fsr-3773	166	3	,	,	PUNCT
fsr-3773	166	4	r.	r.	PROPN
fsr-3773	166	5	,	,	PUNCT
fsr-3773	166	6	&	&	CCONJ
fsr-3773	166	7	zweig	zweig	PROPN
fsr-3773	166	8	,	,	PUNCT
fsr-3773	166	9	j.	j.	PROPN
fsr-3773	166	10	(	(	PUNCT
fsr-3773	166	11	1993	1993	NUM
fsr-3773	166	12	)	)	PUNCT
fsr-3773	166	13	.	.	PUNCT
fsr-3773	167	1	getting	get	VERB
fsr-3773	167	2	past	past	ADP
fsr-3773	167	3	the	the	DET
fsr-3773	167	4	bouncer	bouncer	NOUN
fsr-3773	167	5	.	.	PUNCT
fsr-3773	168	1	forbes	forbes	PROPN
fsr-3773	168	2	,	,	PUNCT
fsr-3773	168	3	(	(	PUNCT
fsr-3773	168	4	august	august	PROPN
fsr-3773	168	5	30	30	NUM
fsr-3773	168	6	)	)	PUNCT
fsr-3773	168	7	,	,	PUNCT
fsr-3773	168	8	114	114	NUM
fsr-3773	168	9	.	.	PUNCT
fsr-3773	169	1	golec	golec	PROPN
fsr-3773	169	2	,	,	PUNCT
fsr-3773	169	3	j.h	j.h	PROPN
fsr-3773	169	4	.	.	PROPN
fsr-3773	169	5	(	(	PUNCT
fsr-3773	169	6	1992	1992	NUM
fsr-3773	169	7	)	)	PUNCT
fsr-3773	169	8	.	.	PUNCT
fsr-3773	170	1	empirical	empirical	ADJ
fsr-3773	170	2	tests	test	NOUN
fsr-3773	170	3	of	of	ADP
fsr-3773	170	4	a	a	DET
fsr-3773	170	5	principal	principal	ADJ
fsr-3773	170	6	-	-	PUNCT
fsr-3773	170	7	agent	agent	NOUN
fsr-3773	170	8	model	model	NOUN
fsr-3773	170	9	of	of	ADP
fsr-3773	170	10	the	the	DET
fsr-3773	170	11	investor	investor	NOUN
fsr-3773	170	12	-	-	PUNCT
fsr-3773	170	13	investment	investment	NOUN
fsr-3773	170	14	advisor	advisor	NOUN
fsr-3773	170	15	relationship	relationship	NOUN
fsr-3773	170	16	.	.	PUNCT
fsr-3773	171	1	journal	journal	PROPN
fsr-3773	171	2	of	of	ADP
fsr-3773	171	3	financial	financial	ADJ
fsr-3773	171	4	and	and	CCONJ
fsr-3773	171	5	quantitative	quantitative	ADJ
fsr-3773	171	6	analysis	analysis	NOUN
fsr-3773	171	7	,	,	PUNCT
fsr-3773	171	8	27	27	NUM
fsr-3773	171	9	,	,	PUNCT
fsr-3773	171	10	81	81	NUM
fsr-3773	171	11	-	-	SYM
fsr-3773	171	12	95	95	NUM
fsr-3773	171	13	.	.	PUNCT
fsr-3773	172	1	grinblatt	grinblatt	PROPN
fsr-3773	172	2	,	,	PUNCT
fsr-3773	172	3	m.	m.	NOUN
fsr-3773	172	4	,	,	PUNCT
fsr-3773	172	5	&	&	CCONJ
fsr-3773	172	6	titman	titman	PROPN
fsr-3773	172	7	,	,	PUNCT
fsr-3773	172	8	s.	s.	PROPN
fsr-3773	172	9	(	(	PUNCT
fsr-3773	172	10	1992	1992	NUM
fsr-3773	172	11	)	)	PUNCT
fsr-3773	172	12	.	.	PUNCT
fsr-3773	173	1	the	the	DET
fsr-3773	173	2	persistence	persistence	NOUN
fsr-3773	173	3	of	of	ADP
fsr-3773	173	4	mutual	mutual	ADJ
fsr-3773	173	5	fund	fund	NOUN
fsr-3773	173	6	performance	performance	NOUN
fsr-3773	173	7	.	.	PUNCT
fsr-3773	174	1	journal	journal	PROPN
fsr-3773	174	2	of	of	ADP
fsr-3773	174	3	finance	finance	NOUN
fsr-3773	174	4	,	,	PUNCT
fsr-3773	174	5	47,1977	47,1977	PROPN
fsr-3773	174	6	-	-	PUNCT
fsr-3773	174	7	1984	1984	NUM
fsr-3773	174	8	.	.	PUNCT
fsr-3773	175	1	hendricks	hendrick	NOUN
fsr-3773	175	2	,	,	PUNCT
fsr-3773	175	3	d.	d.	PROPN
fsr-3773	175	4	,	,	PUNCT
fsr-3773	175	5	pate	pate	NOUN
fsr-3773	175	6	]	]	PUNCT
fsr-3773	175	7	,	,	PUNCT
fsr-3773	175	8	j.	j.	PROPN
fsr-3773	175	9	,	,	PUNCT
fsr-3773	175	10	&	&	CCONJ
fsr-3773	175	11	zeckhauser	zeckhauser	PROPN
fsr-3773	175	12	,	,	PUNCT
fsr-3773	175	13	r.	r.	PROPN
fsr-3773	175	14	(	(	PUNCT
fsr-3773	175	15	1993	1993	NUM
fsr-3773	175	16	)	)	PUNCT
fsr-3773	175	17	.	.	PUNCT
fsr-3773	176	1	hot	hot	ADJ
fsr-3773	176	2	hands	hand	NOUN
fsr-3773	176	3	in	in	ADP
fsr-3773	176	4	mutual	mutual	ADJ
fsr-3773	176	5	funds	fund	NOUN
fsr-3773	176	6	:	:	PUNCT
fsr-3773	176	7	short	short	ADJ
fsr-3773	176	8	-	-	PUNCT
fsr-3773	176	9	run	run	NOUN
fsr-3773	176	10	persistence	persistence	NOUN
fsr-3773	176	11	of	of	ADP
fsr-3773	176	12	relative	relative	ADJ
fsr-3773	176	13	performance	performance	NOUN
fsr-3773	176	14	,	,	PUNCT
fsr-3773	176	15	1974	1974	NUM
fsr-3773	176	16	-	-	SYM
fsr-3773	176	17	1988	1988	NUM
fsr-3773	176	18	.	.	PUNCT
fsr-3773	177	1	journal	journal	NOUN
fsr-3773	177	2	of	of	ADP
fsr-3773	177	3	finance	finance	NOUN
fsr-3773	177	4	,	,	PUNCT
fsr-3773	177	5	48,93	48,93	NOUN
fsr-3773	177	6	-	-	PUNCT
fsr-3773	177	7	l	l	NOUN
fsr-3773	177	8	30	30	NUM
fsr-3773	177	9	.	.	PUNCT
fsr-3773	178	1	laderman	laderman	NOUN
fsr-3773	178	2	,	,	PUNCT
fsr-3773	178	3	j.m	j.m	PROPN
fsr-3773	178	4	.	.	PROPN
fsr-3773	178	5	(	(	PUNCT
fsr-3773	178	6	1993	1993	NUM
fsr-3773	178	7	)	)	PUNCT
fsr-3773	178	8	.	.	PUNCT
fsr-3773	179	1	investor	investor	NOUN
fsr-3773	179	2	,	,	PUNCT
fsr-3773	179	3	keep	keep	VERB
fsr-3773	179	4	out	out	ADP
fsr-3773	179	5	.	.	PUNCT
fsr-3773	180	1	business	business	NOUN
fsr-3773	180	2	week	week	NOUN
fsr-3773	180	3	,	,	PUNCT
fsr-3773	180	4	(	(	PUNCT
fsr-3773	180	5	march	march	PROPN
fsr-3773	180	6	29	29	NUM
fsr-3773	180	7	)	)	PUNCT
fsr-3773	180	8	,	,	PUNCT
fsr-3773	180	9	78	78	NUM
fsr-3773	180	10	.	.	PUNCT
fsr-3773	181	1	lehmann	lehmann	PROPN
fsr-3773	181	2	,	,	PUNCT
fsr-3773	181	3	b.	b.	PROPN
fsr-3773	181	4	,	,	PUNCT
fsr-3773	181	5	&	&	CCONJ
fsr-3773	181	6	modest	modest	ADJ
fsr-3773	181	7	,	,	PUNCT
fsr-3773	181	8	d.	d.	PROPN
fsr-3773	181	9	(	(	PUNCT
fsr-3773	181	10	1987	1987	NUM
fsr-3773	181	11	)	)	PUNCT
fsr-3773	181	12	.	.	PUNCT
fsr-3773	182	1	mutual	mutual	ADJ
fsr-3773	182	2	fund	fund	NOUN
fsr-3773	182	3	performance	performance	NOUN
fsr-3773	182	4	evaluations	evaluation	NOUN
fsr-3773	182	5	:	:	PUNCT
fsr-3773	182	6	a	a	DET
fsr-3773	182	7	comparison	comparison	NOUN
fsr-3773	182	8	of	of	ADP
fsr-3773	182	9	bench	bench	NOUN
fsr-3773	182	10	marks	mark	NOUN
fsr-3773	182	11	and	and	CCONJ
fsr-3773	182	12	benchmark	benchmark	NOUN
fsr-3773	182	13	comparisons	comparison	NOUN
fsr-3773	182	14	.	.	PUNCT
fsr-3773	183	1	journal	journal	PROPN
fsr-3773	183	2	of	of	ADP
fsr-3773	183	3	finance	finance	NOUN
fsr-3773	183	4	,	,	PUNCT
fsr-3773	183	5	42.233	42.233	NUM
fsr-3773	183	6	-	-	SYM
fsr-3773	183	7	265	265	NUM
fsr-3773	183	8	.	.	PUNCT
fsr-3773	184	1	mcgough	mcgough	PROPN
fsr-3773	184	2	,	,	PUNCT
fsr-3773	184	3	r.	r.	PROPN
fsr-3773	184	4	(	(	PUNCT
fsr-3773	184	5	1993	1993	NUM
fsr-3773	184	6	)	)	PUNCT
fsr-3773	184	7	.	.	PUNCT
fsr-3773	185	1	hot	hot	ADJ
fsr-3773	185	2	stock	stock	NOUN
fsr-3773	185	3	funds	fund	NOUN
fsr-3773	185	4	can	can	AUX
fsr-3773	185	5	cool	cool	VERB
fsr-3773	185	6	after	after	ADP
fsr-3773	185	7	closing	close	VERB
fsr-3773	185	8	.	.	PUNCT
fsr-3773	186	1	wall	wall	PROPN
fsr-3773	186	2	street	street	PROPN
fsr-3773	186	3	journal	journal	PROPN
fsr-3773	186	4	,	,	PUNCT
fsr-3773	186	5	(	(	PUNCT
fsr-3773	186	6	march	march	PROPN
fsr-3773	186	7	23	23	NUM
fsr-3773	186	8	)	)	PUNCT
fsr-3773	186	9	.	.	PUNCT
fsr-3773	187	1	cl	cl	PROPN
fsr-3773	187	2	&	&	CCONJ
fsr-3773	187	3	c21	c21	PROPN
fsr-3773	187	4	.	.	PROPN
fsr-3773	188	1	montgomery	montgomery	PROPN
fsr-3773	188	2	,	,	PUNCT
fsr-3773	188	3	l.	l.	PROPN
fsr-3773	188	4	(	(	PUNCT
fsr-3773	188	5	1991	1991	NUM
fsr-3773	188	6	)	)	PUNCT
fsr-3773	188	7	.	.	PUNCT
fsr-3773	189	1	fw	fw	PRON
fsr-3773	189	2	’s	’s	ADJ
fsr-3773	189	3	quarterly	quarterly	ADJ
fsr-3773	189	4	mutual	mutual	ADJ
fsr-3773	189	5	fund	fund	NOUN
fsr-3773	189	6	review	review	NOUN
fsr-3773	189	7	.	.	PUNCT
fsr-3773	190	1	financial	financial	ADJ
fsr-3773	190	2	world	world	NOUN
fsr-3773	190	3	,	,	PUNCT
fsr-3773	190	4	(	(	PUNCT
fsr-3773	190	5	november	november	PROPN
fsr-3773	190	6	12	12	NUM
fsr-3773	190	7	)	)	PUNCT
fsr-3773	190	8	,	,	PUNCT
fsr-3773	190	9	74	74	NUM
fsr-3773	190	10	-	-	SYM
fsr-3773	190	11	84	84	NUM
fsr-3773	190	12	.	.	PUNCT
fsr-3773	191	1	moody	moody	PROPN
fsr-3773	191	2	’s	’s	PART
fsr-3773	191	3	bunk	bunk	PROPN
fsr-3773	191	4	and	and	CCONJ
fsr-3773	191	5	finance	finance	NOUN
fsr-3773	191	6	manual	manual	NOUN
fsr-3773	191	7	(	(	PUNCT
fsr-3773	191	8	1985	1985	NUM
fsr-3773	191	9	)	)	PUNCT
fsr-3773	191	10	.	.	PUNCT
fsr-3773	192	1	new	new	PROPN
fsr-3773	192	2	york	york	PROPN
fsr-3773	192	3	:	:	PUNCT
fsr-3773	193	1	moody	moody	PROPN
fsr-3773	193	2	’s	’s	PART
fsr-3773	193	3	investor	investor	NOUN
fsr-3773	193	4	services	service	NOUN
fsr-3773	193	5	.	.	PUNCT
fsr-3773	194	1	sirri	sirri	PROPN
fsr-3773	194	2	,	,	PUNCT
fsr-3773	194	3	e.r	e.r	PROPN
fsr-3773	194	4	.	.	PROPN
fsr-3773	194	5	,	,	PUNCT
fsr-3773	194	6	&	&	CCONJ
fsr-3773	194	7	tufano	tufano	ADJ
fsr-3773	194	8	,	,	PUNCT
fsr-3773	194	9	p.	p.	NOUN
fsr-3773	194	10	1993	1993	NUM
fsr-3773	194	11	.	.	PUNCT
fsr-3773	195	1	buying	buy	VERB
fsr-3773	195	2	and	and	CCONJ
fsr-3773	195	3	selling	sell	VERB
fsr-3773	195	4	mutual	mutual	ADJ
fsr-3773	195	5	funds	fund	NOUN
fsr-3773	195	6	:	:	PUNCT
fsr-3773	195	7	flows	flow	NOUN
fsr-3773	195	8	,	,	PUNCT
fsr-3773	195	9	performance	performance	NOUN
fsr-3773	195	10	,	,	PUNCT
fsr-3773	195	11	fees	fee	NOUN
fsr-3773	195	12	and	and	CCONJ
fsr-3773	195	13	services	service	NOUN
fsr-3773	195	14	.	.	PUNCT
fsr-3773	196	1	working	work	VERB
fsr-3773	196	2	paper	paper	NOUN
fsr-3773	196	3	93	93	NUM
fsr-3773	196	4	-	-	SYM
fsr-3773	196	5	017	017	NUM
fsr-3773	196	6	,	,	PUNCT
fsr-3773	196	7	harvard	harvard	PROPN
fsr-3773	196	8	business	business	PROPN
fsr-3773	196	9	school	school	PROPN
fsr-3773	196	10	,	,	PUNCT
fsr-3773	196	11	cambridge	cambridge	PROPN
fsr-3773	196	12	,	,	PUNCT
fsr-3773	196	13	ma	ma	PROPN
fsr-3773	196	14	.	.	PUNCT