In this paper we analyse the performance of fixed interest managed funds. We examine five measurement models across three risk-free proxies, nine benchmarks (covering conditional and unconditional as well as single and multi factor definitions) over two independent periods in an effort to...

This study will show that firms issuing seasoned equity have unique beta characteristics and that the beta itself has a very strong impact on the extent of post-issue underperformance. We develop a benchmark that accounts for such unique characteristic, and will subsequently measure the extent...