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We classify "fund style" by the fund name and conduct a portfolio-based style analysis. The main results are as follows. First, the proportion of value-style and dividend-style funds is very high compared to other style types in active funds. Second, managers tend not to adhere strictly to the fund style classified by the fund name. Interestingly, the smaller the fund size, the weaker the style characteristics. This result suggests that the management industry neglects small funds and does notdoi:10.26845/kjfs.2021.04.50.2.201 fatcat:j5egzepwejgwhbykkdyhqgjbpi