mutual fund performance阅读笔记 Mutual Fund Performance: A Reading Note In this reading, the author discusses the performance of mutual funds and their importance in investment portfolios. Here are the key points: 1. Mutual funds are investment vehicles that pool money from multiple investors to ...
In this paper we test if a mutual fund's own corporate culture predicts fund performance. To do this we use Morningstar's corporate culture ratings for mutual funds and then examine the ability of these corporate culture ratings to predict risk゛djusted performance of domestic equity funds over...
主要的分析工具有:(1)投资组合分析理论(由Markowitz均值方差理论衍生,见[1][2][3]),(2)股票市场定价理论(随机游走理论,见[4]),(3)CAPM理论(见[5])。大体分析框架如下:根据投资组合分析理论,共同基金的选择共需分三步,首先把对个股表现的预测转化为对投资组合(即基金本身)表现的预测,其次在海量的投资组合...
Mutual fund companies routinely advertise the past returns of their strong-performing, actively-managed equity funds. These performance advertisements imply that the advertised high past returns are likely to continue. Indeed, investors flock to these funds despite high past returns being a poor predicto...
We show that the commonly observed correlation between institutional investor ownership and the success of mergers is partly driven by active stock picking. Several mutual fund stock selection skill measures strongly predict the post-merger performance of corporate acquirers even after controlling for possi...
Fund size (net assets under management) affects mutual fund performance. Mutual funds must attain a minimum fund size in order to achieve sufficient returns to justify their costs of acquiring and trading on information. Furthermore, there are diminishing marginal returns to information acquisition and...
In recent years,the frequent turnover of fund managers has drawn broad public attention.Based on previous studies,the present study highlights the impact of manager turnover frequency on fund performance measured by risk-adjusted performance(Sharpe ratio),stock picking ability and timing ability.The ...
Their risk-adjusted performance is also superior to existing funds. Furthermore, we provide evidence for short-term persistence among top-performing fund starts, however, a substantial fraction of funds drop from the top to the bottom decile over two subsequent periods. Analyzing portfolio ...
they can get out of hand. Be very cautious when investing in funds with expense ratios higher than 1.50%, as they are considered to be on the higher cost end. Be wary of12b-1advertising fees and sales charges in general. There are several good fund companies out there that have no sal...
Buying a mutual fund based solely on its past performance is a good strategy. A. True B. False 相关知识点: 试题来源: 解析 B 正确答案:B 解析:答案为F。基金的过往经营业绩并不能作为是否购买该基金的惟一标准。 知识模块:金融英语业务知识