Equity Fund Managements Promise and Action: A Comparative Study of Nordic and US Fund's

The paper presents the differences in how fund managers in the Nordics and the US communicate towards investors. The work suggests that similarity of communicated values and actual action of the fund is a key driver to increase fund flow. It helps to sustain assets under management while uniting the picture a potential investor has of the fund. This action might lower the inherent risk in miss-communication. The analysis is building on textual statements of 80 equity funds from the Nordic countries and the US. We compare the funds of the two regions along factors which are according to recent research main drivers of investors when deciding if to invest in a fund or not. With this analysis, we aim to see the difference in the communicated values and the actual action of equity funds. By advancing the understanding of the coherence of communication in the Nordic region we aim to give implications for future research as well as advice to the practitioner.