Does active management add or destroy value? With a sample of 699 with four different main categories: stocks, fixed income, hedge and exchange rate mutual funds we conclude that the active management add value to investors in stocks and hedge funds. But in fixed income mutual funds the evidence...

This study contributes to research on value investing in Brazil, analyzing the Brazilian funds that adopt this philosophy. The goal is to identify some of the factors that influence the decisions of value investing managers to maintain an asset in their portfolios. The results point out that the...

This work aims at refining and complementing the analysis of portfolios composed of commercial papers from companies with high Book-to-Market ratio, which were dealt in BOVESPA from 2004 to 2008, through the creation of an one-dimensional variable, called F_total. It synthesizes data from...