Investment Strategies, Fund Performance and Portfolio Characteristics
نویسندگان
چکیده
منابع مشابه
Investment Strategies, Fund Performance and Portfolio Characteristics
This paper provides extensive evidence on portfolio characteristics of mutual funds and studies the relation between fund performance and the fund manager's investment strategy. The results show that neither momentum characteristics nor the valuation of stocks can explain differences in fund performance. However, the paper finds a negative firm-size effect that partly explains previous findings...
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This study examines the performance of Australian investment management organisations with direct reference to their specific characteristics and strategies employed. Using a unique information source, performance is evaluated for actively managed institutional balanced funds, Australian share funds and Australian bond funds. For balanced mandates, performance is evaluated with respect to the i...
متن کاملFund Turnover and Investment Performance
We examine the level of share dealing activity of UK long-term institutional funds and, for UK pension funds, assess the impact of this dealing activity on investment performance. The analysis is carried out using annual returns and activity from the WM Universe of UK funds. Previous published research has concentrated mainly on US mutual funds and has generally reported no relationship between...
متن کاملInvestment Portfolio Performance Evaluation
Most people who contract with financial managers do not have much understanding of how much benefit paid support provides them in terms of investment return. Similarly, most people who manage their own portfolios do not know how well they are doing with respect to the rest of the financial market – they simply define a successful portfolio by a positive return on investment. The goal of this pr...
متن کاملPortfolio Manager Ownership and Fund Performance:
This paper documents the range of portfolio manager ownership in the funds they manage and examines whether higher ownership is associated with improved future performance. Almost half of all managers have ownership stakes in their funds, though the absolute investment is modest. Future risk-adjusted performance is positively related to managerial ownership, with performance improving by about ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2004
ISSN: 1556-5068
DOI: 10.2139/ssrn.520442