Mutual funds withdraw shield: performance or agency costs driver? pot

... 1(1), 30-34, 2012 Mutual funds withdraw shield: performance or agency costs driver? Carlos Alves * • Helena Mouta CEF.UP, Faculty of Economics, University of Porto, Portugal School of ... savings funds offered higher returns than the investment in equity funds. Table 2. Equity funds and equity saving funds portfolio performance Average Performance...

Ngày tải lên: 16/03/2014, 17:20

... components of mutual fund net finan- cial performance: before-fee performance and fees. According to standard portfolio choice theory, constraining the investment opportunity set cannot improve performance. ... sections, as well as extant work on the performance of SRI mutual funds, compare SRI mutual funds with conventional funds that have similar characteristics. Mutual fu...

Ngày tải lên: 30/03/2014, 12:20

... LoserRank PerformanceRank 2   , where PerformanceRank is the rank of fund performance, WinnerRank is the rank of winner proportion, and LoserRank is the rank of loser proportion. The theoretical ... the relation between performance inconsistency and future performance after controlling for manager skill. We double sort the funds each quarter into 25 portfolios by first sorting on...

Ngày tải lên: 07/03/2014, 13:20

... that mutual funds create for investors. Unexpectedly, they found a negative relationship between before-fee performance and fees in a sample of US equity mutual funds. They used the four factor ... before-fee performance measured according to Carhart’s (1997) model for each fund. Style portfolios analysis and before fee performance relationship with management fee is new conce...

Ngày tải lên: 16/03/2014, 17:20

... represent the performance of funds. The performance of newly started funds may be over or under estimated due to short time span. Most of the mutual funds in Iran do not have a long history, so there ... evaluating the performance of portfolios. It involved Sharpe, Jensen, Treynor, Sortino and Information ratios, which were used in this study for evaluating the performance o...

Ngày tải lên: 16/03/2014, 17:20

... interest-rate crusade in , value funds lost as much or more money than growth funds. See Figure . and Figure . for our favorite value funds. Understanding Growth Funds Value and growth are often ... Vanguard Windsor and Van- guard Windsor II are both large-cap value funds, but their performance in recent years could hardly have been more different. In ’s value rally, W...

Ngày tải lên: 10/12/2013, 10:15

... author, publisher, and distributor of this product assume no responsibility for the use or misuse of this product, or for any injury, damage and /or financial loss sustained to persons or property ... foods externally as stimulators and sex boosters, i.e. these foods are applied orally, directly to the sexual organs. For example… about an hour before sexual orgies, the man washes...

Ngày tải lên: 14/02/2014, 21:20

... the Mutual Funds Regulations. Further, for format of Half Yearly Trustee Report please refer to chapter on Formats. 105 Master Circular for Mutual Funds 12.5.1 Mutual Funds may, for the ... for Mutual Funds shall also have adequate expertise and infrastructure facilities. Their past track record of performance and regulatory compliance record, if they are regis...

Ngày tải lên: 19/02/2014, 09:20

... index. 2.1.3 Performance Measurement of Active Equity Funds The development of Performance Measurement for equity funds can be divided into two generations: 2.1.3.1 Early Models of Performance ... the correlation between future performance and fees is over -0.75 for S&P 500 index funds. Third, the value of p  depends on management skill in portfolio construction. For i...

Ngày tải lên: 19/02/2014, 09:20

... 2011 Mutual fund favorability among older investors was slightly higher than among younger investors in 2011. Retired investors, older investors, and investors who purchased mutual funds ... older mutual fund investors reported higher favorability ratings compared with younger investors and more recent investors. » Mutual fund–owning households often used the Internet for finan...

Ngày tải lên: 19/02/2014, 09:20