Investment funds in China started in 1991. After 20 years of development, the mutual fund industry is now offering a rich product line for investors. At present, individual investors hold about 90% of the mutual fund with more than 90,000,000 fund accounts. Mutual fund purchasing has become the preferred way of managing money for urban residents in China. This paper study on risk assessment met...

In this paper we propose some models for the evaluation of the performance of mutual funds within a DEA approach that are able to tackle the problem of the presence of negative average rates of returns. The three models presented adjust some models previously proposed in the literature and regard a model that can be used for investments in mutual funds which have profitability as main objective...

T he number of mutual funds has grown dramatically in recent years. The Financial Research Corporation data base, the source of data for this article, lists 7,734 distinct mutual fund portfolios. Mutual funds are now the preferred way for individual investors and many institutions to participate in the capital markets, and their popularity has increased demand for evaluations of fund performanc...

American households have vastly increased their participation in equity markets since the early 1980s, primarily through the purchase of shares in mutual funds. The resulting growth in assets managed by the mutual fund industry has been concentrated in a few fund complexes. Some of these – Fidelity in particular – have ended up holding very large ownership positions simultaneously in hundreds o...

This study aimed to examine the performance evaluation and persistence of equity mutual funds when the market reverses from a bull market to a bear market. We also attempt to find the appropriate performance evaluation indicators when funds exhibit performance reversal. Such an indicator will be of great assistance to investors in making investment decisions. Therefore, this study investigates ...

This paper explores the question of whether hedge funds engage in frontrunning strategies that exploit the predictable trades of others. One potential opportunity for front-running arises when distressed mutual funds—those suffering large outflows of assets under management—are forced to sell stocks they own. We document two pieces of evidence that are consistent with hedge funds taking advanta...

Abstract We construct optimal portfolios of mutual funds whose objectives include socially responsible investment (SRI). Comparing these to those constructed from the broader fund universe reveals cost imposing SRI constraint on investors seeking highest Sharpe ratio. This crucially depends investor’s views about asset pricing models and stock-picking skill by managers. To an investor who stron...