type="main" xml:id="acfi12018-abs-0001" xml:lang="en" <title type="main">Abstract</title> <p>Investors widely use contracts for difference (CFDs) to leverage and short sell underlying financial assets. We investigate the after cost performance of investors in Australian Securities Exchange listed share CFDs, and find that...</p>

This study proposes methodological adjustments to the widely adopted performance benchmarking methodology of Daniel "et al". (1997) as a means of improving the precision of alpha measurement for active equity fund managers. We achieve this by considering the monthly updating of characteristic...