... which fund i belongs; sizeitis the level of total net assets of the fund, in millions of CAD; ageitis the age of the fund, in years; stdevitis the 12 monthstandard deviation of returns of ... separately for each, as wellas for all funds together. The aggregate results for all funds are included in columns (2), (3),(8) and (9). The results for “young” funds, defined as those having an age of ... convex shape of the flow-performancerelationship for young funds ([16], [61]): the sensitivity of flows to past performance in-creases with ranking, being strongly convex for the case of 4-factor...