Mekonnen, Medhanie; Mayer, Roger; Chien, Wen-Wen - In: International Journal of Corporate Finance and … 5 (2018) 2, pp. 1-11
Mutual fund portfolio managers do not always meet performance expectations, resulting in loss of capital reserves. Out of 3,612 U.S. based open-ended mutual funds, the risk-adjusted performance of 2,890 (80%) failed to meet the S&P 500 performance between the year 2006 to 2016. Grounded in...