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Author : Chen Yan (M.Fin.)
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (795 download)
Download or read book Canadian Mutual Funds Characteristics, Managerial Attributes and Fund Performance written by Chen Yan (M.Fin.) and published by . This book was released on 2010 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : William J. Bertin
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Mutual Fund Characteristics, Managerial Attributes and Fund Performance written by William J. Bertin and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study provides a comprehensive examination of recent mutual fund performance by analyzing a large set of both mutual funds and fund attributes in an effort to link performance to fund-specific characteristics. The sample of funds used in this regression analysis is free of survivorship bias, and the study addresses benchmark issues as well. The results indicate that the hypothesized relationship between performance and the explanatory variables are generally upheld. After taking into consideration general market conditions and fund investment objective, the characteristic variables that relate to fund popularity, growth, cost and management also explain performance. Finally, after controlling for survivorship and benchmark error, the results refute the performance persistence phenomenon.
Author : Dariusz Filip
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book An Overview of Fund Performance and Attributes written by Dariusz Filip and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this study is to determine whether mutual fund attributes are related to investment performance. Organizational characteristics, such as size, age, family size and expense ratio, were collated with investment performance measured with the use of four different methods for a sample of 82 domestic equity funds operating in Poland in the period 2000-2015. The obtained results show that the asset size factor can translate into the generated return on investment. However, it must be indicated that this research is preliminary. It will enable the identification of the fund features which could be interpreted as determinants of performance in future studies employing more advanced research approaches.
Author : Alyce Rita Campbell
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (143 download)
Download or read book The Investment Performance of Canadian Mutual Funds, 1971-1980 written by Alyce Rita Campbell and published by . This book was released on 1982 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study the investment performances of 103 Canadian mutual funds in the period 1971-1980 were measured and analyzed for two purposes: 1. to make it simpler for interested individuals to evaluate mutual funds as an investment alternative; 2. to find out whether or not actual mutual fund behaviours were in accord with currently accepted financial theory--notably the efficient markets hypothesis. Measures used to assess the performance of one fund relative to another were the Sharpe Index and the Treynor Index. The performances of the funds were also compared to the performance of the market proxy, the Toronto Stock Exchange Composite 300 Index with dividends(the TSE 300 Index), using the Jensen Index, the transformed Sharpe Index, and the transformed Treynor Index. In the second part of the analysis, the relationships between performance and other mutual fund characteristics were examined. The characteristics considered were: whether or not a fund charged a sales fee; total assets; rate of net new deposits; whether a fund qualified as a registered retirement savings plan(RRSP); management expense ratio; fund objectives; and fund manager. This information was also used to study investor behaviour. The relationships between rate of net new deposits in 1976-1980 and fund characteristics and performance in 1971-1975 were investigated to determine which of the characteristics, if any, were used by investors in their decision-making. The conclusions are: 1. The performance measures used indicate that in the study period mutual funds performed statistically no differently than the TSE 300 Index. 2. When the relative performances of the funds in 1971-1975 were compared to their relative performances in 1976-1980, the rankings were unrelated or negatively related. 3. The volatility of the funds was lower in 1976-1980 than in the 1971-1975, with 55 percent of the funds significantly less volatile. This is in keeping with the increase over the decade in the proportion of fixed-interest securities held by the the funds. The estimated /3's of 11 funds which held portfolios composed primarily of fixed-interest securities were found to be significantly negative in the second five years, which seems to be attributable to a change in the relationship between the stock and bond markets. 4. The returns series have the autocorrelation structures of series based on time-ordered price movements. This is consistent with the conclusion of other researchers that many stocks on the Toronto Stock Exchange were moderately to infrequently traded in the study period. 5. The best estimate of £ for a number of funds was obtained using a model incorporating both lagged and led market terms, as well as the synchronous market term. This suggests that the average frequency of trading of securities held by these funds differed from the average frequency of trading of stocks in the TSE 300 Index. 6. ' Performance was not linearly related to the size of a fund, the rate of net new deposits, or the management expense ratio. In 1971-1975, income funds as a group outperformed other funds and in 1976-1980 significantly underperformed other funds. Funds with RRSP status marginally outperformed non-RRSP funds in the first five years. In 1976-1980, funds charging a load fee outperformed funds which did not. 7. Rate of net new deposits in 1976-1980 was linearly related to performance in 1971-1975, suggesting that investors were behaving as expected according to the efficient markets hypothesis. However, rate of net new deposits was also significantly positively related to percent management fee in 1971-1975 and to the fact that funds charged a sales fee. This is contrary to what would be expected if investors are using only risk-adjusted returns in their decision-making.
Author : Filipiuk, Andy
Publisher : Filipiuk Investment Corporation
ISBN 13 : 9780968266106
Total Pages : 196 pages
Book Rating : 4.2/5 (661 download)
Download or read book The Money Management Game : what They Don't Tell You about Mutual Funds written by Filipiuk, Andy and published by Filipiuk Investment Corporation. This book was released on 1997 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bryan Borzykowski
Publisher : John Wiley & Sons
ISBN 13 : 1394219768
Total Pages : 375 pages
Book Rating : 4.3/5 (942 download)
Download or read book Mutual Fund Investing For Canadians For Dummies written by Bryan Borzykowski and published by John Wiley & Sons. This book was released on 2024-02-28 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simple information on diversifying your investments with mutual funds With mutual funds, beginning and experienced investors can afford to invest in a wide range of securities by pooling their money with others’ and splitting the profits. Mutual Fund Investing For Canadians For Dummies helps you makes sense of these funds, start investing, and create a plan to meet your financial goals. With this easy-to-understand guide, you can weigh the pros and cons of mutual funds to decide if they’re right for you. Then follow step-by-step instructions for investing your money in reputable funds—with information specific to the Canadian market. Learn what mutual funds are and how they’re different from hand-picking your own stocks and bonds Understand the risks and benefits of mutual funds so you can determine whether they fit with your financial goals Make a solid investment plan and craft your fund portfolio Consider hedge funds and other managed options for rounding out your investment portfolio Mutual Fund Investing For Canadians For Dummies is great for beginner investors looking to learn more about the benefits of mutual funds and get up to speed on the latest information.
Author : Majid Abbasi
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783659299858
Total Pages : 52 pages
Book Rating : 4.2/5 (998 download)
Download or read book Mutual Fund Performance and Managers' Characteristics written by Majid Abbasi and published by LAP Lambert Academic Publishing. This book was released on 2012 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mutual Fund is one of the most important mechanisms for indirect investment in financial markets, which provides better conditions in terms of risk and return, especially for amateur investors. This research examined the effects of mutual fund managers' characteristics on the performance of Iranian mutual funds. The research was carried out on all Iranian mutual funds during 2007 to 2011. Generalized Lease Square (GLS) was employed to examine these effects. The results show that fund manager's Age, MBA, Gender, and Tenure significantly influence fund performance.
Author : Adi Kapson
Publisher : AP Publishing
ISBN 13 : 8892587293
Total Pages : 43 pages
Book Rating : 4.8/5 (925 download)
Download or read book Canadian Mutual Funds Investing for Beginners: A Basic Guide for Beginners written by Adi Kapson and published by AP Publishing. This book was released on 2016-04-02 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: LEARN:: Canadian Mutual Funds for Beginners and Basic Guide for Canada Mutual Funds This edition is aimed at the individual investor who wants to understand mutual funds and make wise investment choices based on knowledge and understanding of the funds. It is written in easily understandable terms and gives a clear explanation of how the pieces fit together in the marketplace. Readers will come away with a detailed but practical working knowledge of the funds, at a minimum cost of time and frustration. INSIDE:: Canadian Mutual Funds for Beginners Book What are mutual funds? The structure of mutual funds Various types of mutual funds Setting up a mutual fund investment plan Risks and other factors to consider while investing in mutual funds Some wise financial moves Mutual fund regulations How to get started? Timely, detailed, and easy to read, Canadian Mutual Funds for Beginners Book belongs on the bookshelf of anyone who is new to investing or wants a broader understanding of the mutual funds market. Would You Like To Know More? Buy now and take your mutual funds knowledge to the next level.
Author : Jan Harkopf
Publisher : Anchor Academic Publishing
ISBN 13 : 3960670761
Total Pages : 93 pages
Book Rating : 4.9/5 (66 download)
Download or read book Investment Criteria for Mutual Fund Selection written by Jan Harkopf and published by Anchor Academic Publishing. This book was released on 2016-10 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of mutual funds for individual investors has increased in recent decades. This becomes apparent when looking at the increased share of households owning mutual funds. These mutual fund investors usually want to receive a return which is above or at least close to the mutual fund’s benchmark. Consequently, investors want to invest in those funds which will show these patterns in the future. Some of these mutual funds receive much attention, since they generate extraordinary high performance. But the question that remains is whether it is possible to predict such performance before funds exhibit such outstanding performance. In the past, mutual fund investors focused extensively on performance or performance linked patterns, like the Morningstar star rating, and thus chased past performance. This seems surprising since performance persists only over a short time and is more persistent to weak mutual funds (1 and 2 star rated) than well performing mutual funds. Thus, chasing past performances seems to be a rather inferior strategy. Therefore, investors should try to identify alternative tools showing a high correlation to future mutual fund performance. In this book, mutual funds are analysed, especially open-end mutual funds and actively managed mutual funds. The main focus is on what purpose and usefulness active investments have and whether performance is persistent and what the determinants of mutual fund flows are. Moreover, some alternative measures will be introduced by explaining which attributes or methods should be used and avoided when selecting mutual funds.
Author : Dunhong Jin
Publisher : International Monetary Fund
ISBN 13 : 1513519492
Total Pages : 46 pages
Book Rating : 4.5/5 (135 download)
Download or read book Swing Pricing and Fragility in Open-end Mutual Funds written by Dunhong Jin and published by International Monetary Fund. This book was released on 2019-11-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to prevent runs on open-end mutual funds? In recent years, markets have observed an innovation that changed the way open-end funds are priced. Alternative pricing rules (known as swing pricing) adjust funds’ net asset values to pass on funds’ trading costs to transacting shareholders. Using unique data on investor transactions in U.K. corporate bond funds, we show that swing pricing eliminates the first-mover advantage arising from the traditional pricing rule and significantly reduces redemptions during stress periods. The positive impact of alternative pricing rules on fund flows reverses in calm periods when costs associated with higher tracking error dominate the pricing effect.
Author : Frank de Jong
Publisher :
ISBN 13 :
Total Pages : 14 pages
Book Rating : 4.:/5 (13 download)
Download or read book Do Firm Characteristics Influence Mutual Fund Performance? An Empirical Study for European Mutual Funds written by Frank de Jong and published by . This book was released on 2017 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the influence of fund management firm characteristics on mutual fund performance. Using a sample of European-domiciled open-end equity funds for the period 1998-2008, this study finds that the funds of private companies have performed better than the funds of public companies. The degree of focus, the volume of assets under management, and the number of funds offered by a fund management firm also have a positive impact on fund performance. In addition to these four firm characteristics, we find that non-European and U.K. fund managers had better-performing funds.
Author : Bryan Borzykowski
Publisher : John Wiley & Sons
ISBN 13 : 1394219776
Total Pages : 375 pages
Book Rating : 4.3/5 (942 download)
Download or read book Mutual Fund Investing For Canadians For Dummies written by Bryan Borzykowski and published by John Wiley & Sons. This book was released on 2024-01-19 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simple information on diversifying your investments with mutual funds With mutual funds, beginning and experienced investors can afford to invest in a wide range of securities by pooling their money with others’ and splitting the profits. Mutual Fund Investing For Canadians For Dummies helps you makes sense of these funds, start investing, and create a plan to meet your financial goals. With this easy-to-understand guide, you can weigh the pros and cons of mutual funds to decide if they’re right for you. Then follow step-by-step instructions for investing your money in reputable funds—with information specific to the Canadian market. Learn what mutual funds are and how they’re different from hand-picking your own stocks and bonds Understand the risks and benefits of mutual funds so you can determine whether they fit with your financial goals Make a solid investment plan and craft your fund portfolio Consider hedge funds and other managed options for rounding out your investment portfolio Mutual Fund Investing For Canadians For Dummies is great for beginner investors looking to learn more about the benefits of mutual funds and get up to speed on the latest information.
Author : Jason P. Berkowitz
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (13 download)
Download or read book Characteristics of Mutual Funds with Extreme Performance written by Jason P. Berkowitz and published by . This book was released on 2016 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our paper focuses on mutual fund characteristics associated with periods of extreme performance. We find funds with either positive (hot-hand) or negative (icy-hand) persistence tend to have portfolio similarities consistent with riskier positions: compared to no-streak funds they hold less stocks and invest more in top 10 holdings. Also both hot-hand and icy-hand funds have significantly higher turnover than benchmark funds. At the same time, icy-hand (hot-hand) funds tend to have larger (smaller) management teams, and are less (more) likely to be managed by one manager. Finally, we do not observe many funds changing their management teams either before or after the streak of extreme performance. That is neither find we evidence that the beginning of extreme performance is associated with changes in management, nor that it causes changes in management.
Author : Jonathan Michael LaBerge
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Canadian Mutual Fund Flows and Performance written by Jonathan Michael LaBerge and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yanfen Huang
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (11 download)
Download or read book Management Characteristics and Performance of Small & Mid Cap Mutual Funds written by Yanfen Huang and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines whether small & mid cap fund performance is related to the characteristics of fund managers, such as gender, tenure, investment experience, education (MBA) and professional training (CFA). Applying statistical tests which consider fund performance, risk and expenses simultaneously, we find that some systematic cross-sectional differences in fund performance can be attributed to differences in manager characteristics. Female managers are less willing to take risks in making investment decisions, while mid cap funds managed by men have low turnover and expense ratios, thereby delivering greater performance. Interestingly, MBAs can't out-perform those without. Better risk-adjusted performance can be expected from funds that are of small asset size. Hence, we also obtain the optimal size of managed mutual funds, which is US$1.43 billion from single index alpha equation, and US$3.89 billion from multi-index alpha equation. There are 88 percent of funds in our sample smaller than the optimal size of US$1.43 billion and 96 percent smaller than the optimal size of US $3.89 billion. Investors can avoid high risk by selecting low turnover, and small capitalization funds managed by fund managers who are female with less investment experience and with CFA degree, all else equal. In terms of expense and turnover, managers with MBAs and CFAs have lower rates of expenses. However, those with longer tenure and investment experience generate higher expense ratio. High turnover ratios are associated with female manager of shorter investment experience and CFA designation.
Author : Peter Lückoff
Publisher : Springer Science & Business Media
ISBN 13 : 3834927805
Total Pages : 604 pages
Book Rating : 4.8/5 (349 download)
Download or read book Mutual Fund Performance and Performance Persistence written by Peter Lückoff and published by Springer Science & Business Media. This book was released on 2011-01-13 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: Peter Lückoff investigates why fund flows and manager changes act as equilibrium mechanisms and drive the performance of both previously outperforming and previously underperforming funds back to average levels.
Author : Stephen Gadsden
Publisher :
ISBN 13 : 9780075601555
Total Pages : 242 pages
Book Rating : 4.6/5 (15 download)
Download or read book Canadian Mutual Funds Handbook written by Stephen Gadsden and published by . This book was released on 1995 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt:
