Independent variable

HPB Glob

Ilirika Eq

KD Eq

OTP Bal

Intercept

0.4246

0.207

−0.033

0.2425

(0.136)

(0.354)

(0.739)

(0.428)

Performance (t)

0.5541^*

0.7768^***

0.3091^***

0.437^*

(0.023)

(0.000)

(0.000)

(0.043)

Performance 12 months

0.1852^**

0.0798^*

0.0039

0.1041^*

(0.002)

(0.034)

(0.799)

(0.042)

Ln(NAV)

−0.022

−0.011

0.002

−0.013

(0.1419)

(0.369)

(0.710)

(0.4415)

Flow in prev. month

−0.079

−0.086

0.199^*

0.4454^**

(0.5848)

(0.559)

(0.020)

(0.007)

Flow in last 3 months

−0.003

0.0875

0.0498

−0.019

(0.969)

(0.206)

(0.095)

(0.718)

Adjusted R²

0.2848

0.5037

0.4496

0.3387