Before the launching of open-ended fund

After the introduction of open-ended fund

Full sample A

Sub-sample A 1

Sub-sample A 2

Full -sample B

Sub-sample B 1

Sub-sample B 2

−7.90E−01

−6.49E−01

−5.08E−01

−2.29E−01

−1.21E−01

−9.47534

0.333136

0.13064

0.304074

0.144829

0.102853

0.022645

−0.08309

−0.1191

−0.02271

−0.01581

0.065952

−0.00634

0.935879

0.936605

0.967874

0.985395

0.993794

−0.30662