公募基金对标的是海外的共同基金(Mutual Fund)，代表公司是先锋基金，其主要产品是指数基金，主要赚取市场的Beta收益。而私募基金对标的是对冲基金(Hedge Fund),代表基金是桥水基金和文艺复兴基金。它们主要为高净值人群赚取超额收益。随着中国进入资产配置的大时代，私募基金将成为高净值人群资产配置中不可或缺的标的。...
公募基金对标的是海外的共同基金(Mutual Fund),代表公司是先锋基金,其主要产品是指数基金,主要赚取市场的Beta收益。而私募基金对标的是对冲基金(Hedge Fund),代表基金是桥水基金和文艺复兴基金。它们主要为高净值人群赚取超额收益。随着中国进入资产配置的大时代,私募基金将成为高净值人群资产配置中不可或缺的标的。 上...
This paper presents an examination on the impact of investor sentiment on mutual fund alpha. Using the Baker and Wurgler index, I find that investor sentiment plays an important role in explaining fund alpha, and the outperforming probability of funds rises as investor sentiment rises. Also, ...
A positive alpha indicates the portfolio manager performed better than was expected based on the risk the manager took with the fund as measured by the fund's beta. Anegative alphameans that the manager actually did worse than they should have given the required return of the portfolio.1Thereg...
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Jensen 这个人在1967年发表了文章 The Performance of Mutual Funds in the Period 1945-1964, 阐述了共同基金(mutual fund)与其市场在基于CAPM下好像并不能很好得给资产定价. 即使假设CAPM 成立, 那么一个组合管理者如果能更好得捕捉市场, 比如把资金比重放到更多的 ϵi>0, 即非系统性收益更可能为正的资产里...
公募基金对标的是海外的共同基金(Mutual Fund),代表公司是先锋基金,其主要产品是指数基金,主要赚取市场的Beta收益。而私募基金对标的是对冲基金(Hedge Fund),代表基金是桥水基金和文艺复兴基金。它们主要为高净值人群赚取超额收益。随着中国进入资产配置的大时代,私募基金将成为高净值人群资产配置中不可或缺的标的。
Alpha is commonly used to rank active mutual funds as well as all other types of investments. It is often represented as a single number (like +3.0 or -5.0) and typically refers to a percentage measuring how the portfolio or fund performed compared to the referenced benchmark index (i.e....
I decompose mutual fund alpha into two components: which stocks a mutual fund selects and what weights are placed in those stocks. Although related, each decision has a distinguishable impact on portfolio alpha. I show that deciding how to weight securities is of greater importance than deciding...
Alpha Trust Mutual Fund and Alternative Investment Fund Management上季度的 每股有形资产账面价值为1.92。 December 2019至2023的财年Alpha Trust Mutual Fund and Alternative Investment Fund Management的每股有形资产账面价值为 2.01 December 2019至 2023的财年,Alpha Trust Mutual Fund and Alternative Investment Fun...