This article attempts to measure performance of Type A and Type B funds relative to T-Bill rates and ISE-100 index in Turkey over the period of January 1998-June 2000 using Sharpe ratio, Treynor ratio, Jensen alpha, and Graham&Harvey index. 55 Type A, and 77 Type B Funds were included in the...

Mutual Funds as one of the investment options have not been very popular particularly in the Middle East counties in spite of huge investment potential. Investors in the region have long been skeptical of the safety and returns of the investment options as the awareness about investment has been...

We provide a solid framework in analyzing of what drives mutual fund performance in Chinese mutual fund industry, and show that fund performance is determined not only by efforts of fund manager, but also by fund investor behavior. Our empirical evidence shows that the total purchase and...

One of the most crucial decisions for investors and plan sponsors is the selection of funds among the thousands of available alternatives. We stress that an investor first needs to specify a target alpha, i.e., the expected fund return in excess of a benchmark, and that the target alpha...

We investigate US hedge funds' performance across different economic and market conditions for the longest period to date, 1990-2014. The paper examines the impact of multiple business cycles and rising/falling markets on exposures and excess returns delivered to investors. We use a twin...

We survey articles on hedge funds' performance persistence and fundamental factors from the mid-1990s to the present. For performance persistence, we present some pioneering studies that contradict previous findings that hedge funds' performance is a short term matter. We discuss recent...

Del Guercio and Reuter (2014) find that broker-sold actively managed funds underperform both broker-sold index funds and direct-sold actively managed funds by 1.10% per year on a risk-adjusted basis. They argue that broker clients would be better off investing in broker-sold index funds, and...

The present paper is based on the study of comparing and analyzing the equity fund schemes in respect of bare risk and return. Further the paper compares and analyzes the mutual fund schemes in respect of bare risk and return. The research also studies the average risk and average return of...

Purpose Stirred by scant regard for market phases in portfolio performance assessments, the current paper investigates the active versus passive investment strategies under the bull and bear market conditions in emerging markets focusing on South Africa as a case study....