Indian mutual fund industry: Opportunities and challenges

The MUTUAL FUND INDUSTRY

National Seminar on “ Indian Dairy Industry - Opportunities and Challenges ” 208

206 The food industry is in the process of revolutionary change with new processing technologies that allow foods to keep possession of superior quality without refrigeration (Sastry, 2008). It is fact that not only the shelf life but also the quality of food is important to consumers led to the concept of preserving foods using preservation methods. Therefore, alternative or novel food process...

Measuring Skill in the Mutual Fund Industry∗

Using the dollar-value that a mutual fund adds as the measure of skill, we find that the average mutual fund adds about $2 million per year and that this skill persists for as long as 10 years. We further document that investors recognize this skill and reward it by investing more capital with better funds. Better funds earn higher aggregate fees, and there is a strong positive correlation betw...

Competition and Conflicts of Interest the U.S. Mutual Fund Industry*

Mutual fund investors desire high risk-adjusted performance at low cost, which may not necessarily be the objective of fund families. Fund families want to maximize assets under management (i.e., their market share) and the resulting management fees. This paper studies the extent to which conflicts of interest are mitigated by competition in the mutual fund industry using the universe of U.S. m...

Market Discipline and Internal Governance in the Mutual Fund Industry∗

This paper develops a continuous-time model in which a portfolio manager is hired by a management company. Based on past portfolio returns, all agents update their beliefs about the manager’s skills. In response, investors can move capital into or out of the mutual fund, the portfolio manager can alter the risk of the portfolio and the management company can replace the manager. We examine the ...