I am currently engaged in research focusing on the persistence of the industry momentum effect over time. In this context, I am interested in understanding whether there are investment funds that actively exploit text-based industry momentum, as proposed by Hoberg and Phillips in their 2018 study. Recognizing the potential impact of textual data on industry trends and investment decisions, I am seeking information on funds or investment strategies that have incorporated the concept of text-based industry momentum into their approaches.

Hoberg and Phillips (2018) introduced the idea of text-based industry momentum, highlighting its significance in analyzing industry trends for more informed investment decisions. Given the relevance of this concept to my research, I am keen to learn about any funds, publications, or relevant insights related to the implementation of text-based industry momentum in investment strategies. Any resources, such as articles, reports, or fund profiles, would greatly contribute to my exploration of this topic.

Do you have insights or information on funds that have embraced text-based industry momentum? I would greatly appreciate your input.