is roughly 100 basis points per year, compared to a ratio of roughly 20 basis points per year for the Vanguard Index 500 fund, the debate has important implications for the future of the mutual fund industry. Mutual funds now manage over $3 trillion in equities; thus, an 80 basis-point ...
lose to other investors. The VW portfolio of mutual funds that invest primarily in U.S. equities is close to the market portfolio, and estimated before fees and expenses, its α is close to zero. Since the VW portfolio of funds produces an α close to zero in gross returns, the α est...
10 After collapsing individual fund classes down to the overall fund and excluding funds with less than $100,000 in total net assets (TNA), my database reduces to 6,642 mutual funds representing 554 fund families. My random sample consists of 124 mutual fund families and board of director ...
Despite the relatively low penetration of mutual funds in India, the market is highly concentrated. Though, there are 44 AMCs operating in the sector, approximately 80 per cent of the AUM is concentrated with 8 of the leading players in the market.Dr M R Senapathy...
Looking at today's investment market, we find an increasing number and complexity of mutual funds. Helping investors to cope with the investment decision, ... K Pdf 被引量: 0发表: 2013年 Three Essays on Mutual Fund Ratings The incessant growth of the mutual fund industry has made the task...
First we present a comprehensive review of the literature of DEA models for the performance assessment of mutual funds. Then we discuss the problem of the presence of negative returns in DEA modeling for mutual funds and we identify a DEA model that is financially justified and tackles the ...
This paper investigates investor disagreement and clientele effects in performance evaluation by developing a measure that considers the best potential clienteles of mutual funds. In an incomplete market under law-of-one-price (LOP) and no-good-deal conditions, we obtain an upper bound on admissible...
1966. Mutual fund performance. The Journal of Business 39 (1): 119–138. Article Google Scholar Soler-Domínguez, Amparo, Juan Carlos Matallín-Sáez, Diego Víctor. de Mingo-López, and Emili Tortosa-Ausina. 2021. Looking for sustainable development: Socially responsible mutual funds and the...
mutual funds, The results do not support the existence of skilled or informed mutual fund portfolio managers. PERSISTENCE IN MUTUAL FUND performance does not reflect superior stock-picking skill. Rather, common factors in stock returns and persistent differences in mutual fund expenses and transaction ...
Keywords:Performanceevaluation;Mutualfunds;Bayesiananalysis ? Wearegratefultoseveralanonymousreferees,ChrisBlake,EugeneFama,WayneFerson,Anthony Lynch,AndrewMetrick,DeanPaxson,TobyMoskowitz,andseminarparticipantsattheFederalReserve BankofNewYork,LondonBusinessSchool,NorthwesternUniversity,OhioStateUniversity,University ...