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 ...
This paper uses a large sample containing the complete return histories of 2300UK openended mutual funds over a 23-year period to measure fund performance. We find some evidence of underperformance on a risk-adjusted basis by the average fund manager, persistenceof performance and the existence of...
Mutual fund performanceBerkeley Electronic Press Selected Worksdoi:10.1007/BF02303300Ladd M. KochmanRavija BadarinathiKluwer Academic PublishersAtlantic Economic Journal
本文主要讲了如何根据当时的一些前沿研究理论对共同基金的表现进行分析。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])…
On persistence in mutual fund performance 热度: On Persistence in Mutual Fund Performance 热度: MutualFundPerformance: AnEmpiricalDecompositioninto Stock-PickingTalent,Style,TransactionsCosts,andExpenses RussWermers CampusBox419 GraduateSchoolofBusinessAdministration ...
In a sample of 683 nonindexed U.S. equity funds over the 1993-95 period, we found that 20 percent of the mutual funds were smaller than the breakeven-cost fund size and 10 percent of the largest funds overinvested in information acquisition and trading. In addition, we found that value ...
Mutual Fund Performance: An Empirical Decomposition into Stock-Picking Talent, Style... We use a new database to perform a comprehensive analysis of the mutual fund industry. We find that funds hold stocks that outperform the market by 1.3 per... Wermers,Russ - 《Journal of Finance》 被引量...
VINIX is a large blend mutual fund that has a low 0.035% expense ratio. With 503 equity holdings, the passively managed fund aims to mirror the S&P 500's performance. While many funds use the S&P 500 as a benchmark, VINIX requires a minimum investment of $5 million, hence the "institut...
B. time -period bias. C. survivorship bias. 相关知识点: 试题来源: 解析 C Studies of the performance of mutual fund managers often suffer from survivorship bias as poorly performing funds are closed down and are not included in the sample.反馈 收藏 ...
Carhart (1992) documents that persistence in expense ratios drives persistence in mutual fund performance.证明了费用比率的持续性推动了共同基金业绩的持续性。 Data Description Mutual fund data Monthly data from 1962 to 1993 Incudes all known equity funds over this period--Eliminates survivorship bias 消...