Do actively managed funds perform better than index funds? A test in the Canadian market

نویسندگان
چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Performance Maximization of Actively Managed Funds

A growing literature suggests that even in the absence of any ability to predict returns, holding options on the benchmarks or trading frequently can generate positive alpha. The ratio of alpha to its tracking error appraises a fund’s performance. This paper derives the performance-maximizing strategy, which turns out to be a variant of a buywrite strategy, and the least upper bound on such per...

متن کامل

Emerging Markets and Entry by Actively Managed Funds

This paper investigates the incentives of investors to set up an actively managed fund in an emerging market or asset class. The analysis highlights the role of agency problems between fund managers and investors in determining this entry decision. It is shown that investors may wish to set up a fund in a new market, only when another fund is also active in that market. Fund entry into a new ma...

متن کامل

Do Active Funds Perform Better In Down Markets? - New Evidence from Cross-Sectional Study

As discussed in Gruber (1996), the dramatic growth of actively managed funds constitutes a major puzzle in the finance literature. Despite the large amount of money invested in actively managed funds, these funds on average underperform their passive counterparts after fees. The existing literature proposes a potential explanation to the puzzle active funds perform better in down markets when i...

متن کامل

Do Mutual Funds Differ in Performance? Evidence from Canadian Equity Funds

Mutual funds have experienced phenomenal growth in recent years. There are many reasons behind this development. Most important, mutual funds offer investors an opportunity to diversify their investment, a privilege which, up until very recently, was available only to large and institutional investors. Frequently firms selling mutual funds try to appeal to potential investors by advertising the...

متن کامل

Under One Roof: A Study of Simultaneously Managed Hedge Funds and Funds of Hedge Funds

 Vikas Agarwal is from Georgia State University, J. Mack Robinson College of Business, 35 Broad Street, Suite 1221, Atlanta GA 30303, USA. Email: [email protected]: +1-404-413-7326. Fax: +1-404-4137312. Vikas Agarwal is also a Research Fellow at the Centre for Financial Research (CFR), University of Cologne. ^ Yan Lu is from University of Florida, Warrington College of Business, Box 117168,...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: The Bulletin of the Dnipropetrovsk University. Series: Management of Innovations

سال: 2016

ISSN: 2414-956X,2409-7101

DOI: 10.15421/191616