SA

(1)

(2)

(3)

FUND

0.788^***(7.87)

0.743^***(6.91)

0.744^***(6.01)

CEN-B

−116.93^***(8.38)

FUND^*CEN-B

108.88^***(7.85)

CEN-C

−0.231^***(−9.95)

FUND^*CEN-C

0.128^***(8.49)

CEN-D

−0.094^***(−8.58)

FUND^*CEN-D

0.348^***(7.22)

Controls

Yes

Yes

Yes

Constant

−14.366^***

(−17.314)

−14.374^***

(−16.989)

−14.492^***

(−17.323)

Observations

1,223

1,223

1,223

R-squared

0.04

0.043

0.048