Independent variable

ZB Euro Eq

ZB Global

ZB Trend

Intercept

0.9454^***

0.1325

0.4601

(0.001)

(0.232)

(0.074)

Performance (t)

−0.057

0.4151

0.3592

(0.674)

(0.055)

(0.101)

Performance 12 months

0.115^**

0.0808

0.2018^***

(0.002)

(0.090)

(0.001)

Ln(NAV)

−0.049^***

−0.007

−0.0250

(0.001)

(0.234)

(0.067)

Flow in prev. month

0.054

0.1240

−0.033

(0.716)

(0.310)

(0.7715)

Flow in last 3 months

0.1239^*

0.1217^*

0.0378

(0.017)

(0.018)

(0.411)

Adjusted R²

0.3931

0.2950

0.1292