In this study we examine the European mutual fund market for the 1990-2021 period through the two parties involved in it: the investor and the fund manager. On the one hand, we determine the relevant factors of the decision to invest based on the modeling of asset flows. In the demand function,...

In this paper we examine whether mutual fund managers around the world are able to implement synchronization strategies with respect to different investment styles, a fundamental aspect in the efficient management of an investment portfolio. We also analyze the skills of these managers to...

There is no overall consensus about which measure is the most suitable for evaluating portfolios' performance. Despite being affected by some of the statistical characteristics of returns, Sharpe ratio is the most widely used measure for portfolio performance evaluation. Thus, the other measures...

This paper examines the short-term performance and market timing ability of equity mutual funds in Spain between 1990 and 2020. Using a sample of daily returns, we document strong evidence of performance persistence and market timing ability across deciles in the post-ranking quarter. We...

This paper examines the relationship between seasonality, idiosyncratic risk and mutual fund returns using multifactor models. We use a large sample containing the return histories of 728 UK mutual funds over a 23-year period to measure fund performance. We present evidence that idiosyncratic...

In this article, we contribute to the discussion in the financial literature about performance persistence by examining the issue of persistence in short-term mutual fund performance in the Scandinavian countries between 1990 and 2020. We use a unique sample of equity funds investing locally...

The adequate evaluation of mutual fund performance and of the fund managers’ ability to add value is an issue to which it has been given special attention in the recent financial literature. One of the traditional evaluation measures most commonly used is Carhart's alpha. However, one of the...

The objective of this work is to examine the synchronization capacity in volatility of equity mutual funds around the world relative to market risk. This consists in the reduction of systematic risk at times of greater volatility, in order to reduce the portfolio risk and improve its efficiency....

In this paper, we analyze equity mutual funds from the main European countries using daily and monthly returns to determine whether the temporary frequency of the data produces changes in the identification of timing skills by fund managers that justifies the current trend in the finance...