Abstract
We examine how speed of information diffusion within mutual fund families affects the performance and trading behavior of the corresponding member mutual funds. Timely information flows within the organization lead to better fund performance, and even more so when information flows across funds with different rather than similar investment styles. Furthermore, fast information diffusion within a family results in more trading activity by the member funds. It also leads to greater interdependence of member mutual funds in information production and utilization, as member funds hold portfolios that resemble those of affiliated funds but differ from the portfolios of their peers.
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