winners —the performance of the mutual funds

... development of the financial markets This paper examines the performance and persistency of Chinese mutual funds The investigation of mutual fund performance involves two joint hypotheses First, the ... levels of the People’s Bank of China and other agencies There are several characteristics of the mutual funds at the first stage First, their organizational format was almost the same They were ... THE PERFORMANCE AND PERSISTENCY OF CHINESE MUTUAL FUNDS CHEN YIFAN (Bachelor of Economics) A THESIS SUBMITTED FOR THE DEGREE OF MASTOR OF SCIENCE DEPARTMENT OF FINANCE NATIONAL UNIVERSITY OF...

Ngày tải lên: 16/10/2015, 15:38

... 25 portfolios of mutual funds sorted first by their manager skill measure and then by the alpha during the first two months of the quarter 2-month 4-factor Alpha is the average of the two 4-factor ... LoserRank , 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 range of this measure ... flows by summing the dollar flows over the three months of the quarter divided by the total net assets at the beginning of the quarter In panel B of Table I we observe that the mean (median)...

Ngày tải lên: 07/03/2014, 13:20

... managers to know the before-fee performance estimation of European funds Our sample universe is comprised of equity mutual funds of France which is one of the most important funds markets in ... growth funds, growth midcap funds, growth and income funds, growth funds, and small company growth funds) Our sample of French mutual funds has an exception from other European mutual funds, ... while deviating from most of US studies that argue mutual funds under-perform the market by the amount of expenses they charge They provide better understanding of Funds performance in European...

Ngày tải lên: 16/03/2014, 17:20

... the market timing ability of Mutual fund manager They had used 57 open-ended Mutual funds during the period of 1953-1962 They found no evidence that the investment managers of any of the 57 Mutual ... evaluate the Market Timing Ability of Mutual Funds by using different types of schemes OBJECTIVE OF THE STUDY The main objective of the present study is to test the market timing abilities of the Mutual ... Investment management of Mutual funds His main emphasis was to evaluate the performance of Mutual fund schemes and test the market timing abilities of mutual funds manager over a period of April 1, 1994...

Ngày tải lên: 23/03/2014, 12:21

... explained that size of the funds did matter and the performance of large funds was better Furthermore, young funds investing abroad performed better than other funds The performance of funds charging ... 4) 3-3- Research Hypotheses In order to evaluate the effects of fund size on the performance of mutual funds, these hypotheses were tested: All Iranian Mutual Funds: H0: There is no significant ... portfolio analysis There are several models which are used for the performance evaluation of mutual funds In the study, five measures were used for the performance evaluation of mutual funds: Sharpe...

Ngày tải lên: 16/03/2014, 17:20

... (SRI) mutual funds has focused on determining whether SRI funds have lower financial performance than conventional funds In this paper, we contribute to the debate on the performance of SRI funds ... of a control group of conventional funds of similar size and reports that the average Jensen’s alpha of SRI funds was higher than that of the control group in the period 1990-1998, although the ... time-variation in both the matching variables and performance The role of management companies Previous sections, as well as extant work on the performance of SRI mutual funds, compare SRI mutual funds with...

Ngày tải lên: 30/03/2014, 12:20

... closed-end funds also owned mutual funds The number of households owning mutual funds decreased slightly in 2011 The percentage of U.S households owning mutual funds has stayed about the same since ... Ownership of Mutual Funds Inside and Outside Retirement Plans Number and percentage of U.S households, 1998–2011 Share of U.S households Percent Own mutual funds Own mutual funds Own mutual funds ... That Funds Can Help Them Achieve Their Investment Goals Percentage of respondents whose households have mutual funds in their DC accounts* by level of confidence that mutual funds can help them...

Ngày tải lên: 19/02/2014, 09:20

... closed-end funds also owned mutual funds The percentage of U.S households owning mutual funds has stayed about the same since 2002; however, the number of households owning mutual funds increased ... Can Help Them Achieve Their Investment Goals Percentage of respondents whose households have mutual funds in their DC accounts* by level of confidence that mutual funds can help them meet their ... Indeed, much of the growth in the number of households owning mutual funds through tax-deferred accounts has occurred among those for whom this is their only form of fund ownership Of the 49.3 million...

Ngày tải lên: 19/02/2014, 09:20

... market funds to rise somewhat Funds of funds are mutual funds that invest in other mutual funds The market for funds of funds has expanded considerably in recent years By the end of 2010, there ... target date funds of funds account for 59 percent of the total number and 61 percent of the total assets of funds of funds From 2005 to 2010, the average expense ratio of funds of funds fell from ... were 966 funds of funds with $928 billion in assets (Figure 11) Approximately 85 percent of the assets of funds of funds are in hybrid funds of funds, which are funds that invest in a mix of stock,...

Ngày tải lên: 19/02/2014, 15:20

... iMoneyNet Funds of Funds Funds of funds are mutual funds that invest in other mutual funds. 7 The market for funds of funds has expanded considerably in recent years By the end of 2011, there were ... there were 1,047 funds of funds with more than $1,046 billion in assets (Figure 12) Approximately 89 percent of the assets of funds of funds are in hybrid funds of funds, which are funds that invest ... of funds account for 58 percent of the total number and 57 percent of the total assets of funds of funds From 2005 to 2011, the average expense ratio of funds of funds fell from 101 basis points...

Ngày tải lên: 19/02/2014, 15:20

... cause the fund to break the buck, only to later provide support Accordingly, many of the instances of support towards the end of the five year period reviewed were a small percentage of the funds ... support for these two funds that was more unusual than the underlying losses suffered, as credit events have impacted many more than two funds in the history of the MMMF industry The remainder of this ... reflect the full market value declines in all or some of the underlying securities The impact is recorded as a liability on the books of the sponsor Page of 13 support events during the fiscal...

Ngày tải lên: 19/02/2014, 15:20

... the attrition rate of conventional funds is higher than the attrition rate of SRI funds (and therefore, the average performance of conventional funds is biased more upwards than the average performance ... suggests that the conclusion about the performance of SRI funds relative to conventional funds may be sensitive to the domicile of the investigated funds Chang and Witte (2010) compare the average ... find that 29.93% of their conventional fund sample died before the end of the sample period In contrast, only 12.5% of the SRI fund sample did so Similarly, The Performance of SRI Funds: A Meta-Analysis...

Ngày tải lên: 30/03/2014, 12:20

... number of 288 funds per country The U.S., which has the largest fund industry in terms of the share of assets held, is also the largest in terms of the number of available mutual funds (8,307 funds ... description of the size of the mutual fund industry across the world at the end of 2001 At that time, the worldwide mutual fund industry held $11.7 trillion in assets The countries with the largest ... around the world, academic studies of mutual funds have remained geographically narrow While at the end of 2001, funds originating in the U.S accounted for only 15 percent of the number of funds...

Ngày tải lên: 30/03/2014, 12:20

... from the solar radiation, the tank wall heats a thin vertical layer of water along the tank wall Part of this heat is then transferred by diffusion towards the core of the tank The water of the ... August and the theoretical results of [1] in June Figure 10 The time variation of solar radiation and stored energy of the present experimental study in August and the theoretical results of [1] ... difference of around 3% for the most of the day In both comparisons, the experimental study gives lower values for most hours of the day, which may be attributed to different kind of thermal losses...

Ngày tải lên: 05/09/2013, 15:28

... depth) The objective of this work is to investigate the effect of brine depth on the productivity and efficiency of solar still under laboratory conditions Table shows a summary of some of the studies ... that of greater thickness, but the productivity diminishes rapidly after turning the heaters off On the other hand, the still with the higher brine depth has a larger production during the period ... as nocturnal production in the outdoor tests) These values are the initial value of the production line in the figures This may be due to the large thermal capacity of water, which is directly...

Ngày tải lên: 05/09/2013, 16:10

... conclusions of their work are that the multi-stage desalination of seawater is reliable, and the undesirable flow of steam that bypasses the condenser is quite harmful to the overall performance of the ... considering the effect of various design and operating parameters on the performance and thermal characteristics of the system Description of the multi-stage evacuated solar desalination system The Multi-stage ... outlet of first collector will be inlet to the second collector and the outlet of the second collector will be inlet to the next and so on up to the Ncth collector Thus, the outlet temperature of the...

Ngày tải lên: 05/09/2013, 16:11

... coupling often yields highly efficient custom impleEvent Channel: At the heart of the COS Event Service is mentations As the example below shows, however, the inflexthe Event Channel, which plays the ... source of continconsumer to the real suppliers on one side of the channel and ual change, both across platforms and over time The specific as a proxy supplier to the real consumers on the other ... Proxies actually supply these types of events (Section 4.2 the correct scheduling priority, relative to the consumers of discusses typed-filtering) Once again, the use of an Event these events Channel...

Ngày tải lên: 19/02/2014, 18:20

... Growth And Survival Of The White Leg Shrimp (Litopenaeus Vannamei) Reared Intensively In The Brackish Water Of The Israeli Negev Desert The Bengis Centre for Desert Aquaculture, The Jacob Blaustein ... and the Pacific Food and Agriculture Organization of the United Nations, Regional Office for Asia and the Pacific RAP Publication 2004/10, pp 1-12 Christopher Edward Mace, 2008 Evaluation Of Ground ... And Diseases Of Cultured Penaeus vannamei The World Aquaculture Siciety The Oceanic Institute Briggs, M., S Funge-Smith, R Subasinghe and Phillips, M 2004 Introduction and movement of Penaeus vannamei...

Ngày tải lên: 07/03/2014, 01:33

... lost because of the difficulty of penetrating to the core assets The level of complexity of the tranched and layered securities exceeded the analytical abilities and, therefore, the risk management ... 20 percent of the appreciation of the fund over the course of a fiscal year Typically, this 20-percent fee would be in addition to an asset-based fee (say) of percent of the value of the fund's ... market funds The source of money market funds' susceptibility to runs was described in the PWG Report as follows: Although the run on MMFs in 2008 is itself unique in the history of the industry, the...

Ngày tải lên: 07/03/2014, 16:20

... auditors of DLV The format of the questions were concerning given hypotheses to learn the opinion and the level of perception of all participants about their knowledge of ABC and the efficacy of it ... staffs The first hypothesis shows the impact of ABC on financial performance; the second hypothesis demonstrates some factors affect of using ABC on financial performance of the company Finally, the ... serve the objectives of the researcher:  Does the use of ABC affect the financial performance?  Importance factors affecting the impact of ABC and financial performance  Do the benefits of using...

Ngày tải lên: 13/03/2014, 14:20