This paper presents the first comprehensive study of the performance and market timing ability of the equity funds that comprise the Hong Kong Mandatory Provident Funds (MPF) scheme. In general, our results suggest that US equity funds consistently underperform relative to the market, while the...

This paper is the first study to examine the short and long term price level linkages between the equity funds under the Hong Kong Mandatory Provident Fund (MPF) scheme and the benchmark indices proxied by different indices designed by the Hong Kong Investment Fund Association (HKIFA) over the...

This paper presents the first comprehensive study of the performance and market timing ability of the equity funds that comprise the Hong Kong Mandatory Provident Funds (MPF) scheme. In general, our results suggest that US equity funds consistently underperform relative to the market, while the...

This paper extends the author's previous study on the magnitude of tracking error, which used panel data to find the determinants of tracking errors in exchange traded funds (ETFs) in the Hong Kong stock market. In general, the results of this study suggest that tracking errors are comparatively...