Portfolio Manager Ownership and Mutual Fund Performance
نویسندگان
چکیده
منابع مشابه
Portfolio Manager Ownership and Fund Performance:
This paper documents the range of portfolio manager ownership in the funds they manage and examines whether higher ownership is associated with improved future performance. Almost half of all managers have ownership stakes in their funds, though the absolute investment is modest. Future risk-adjusted performance is positively related to managerial ownership, with performance improving by about ...
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We examine the relationship between portfolio manager ownership, closed-end fund premiums/discounts, and future returns. Using a sample of 592 closed-end funds in 2005, representing 95% of the entire industry, we find that fund manager ownership has a positive and economically significant impact on fund premiums and future fund performance measured using both NAV and price returns. Furthermore,...
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ژورنال
عنوان ژورنال: Financial Management
سال: 2008
ISSN: 0046-3892,1755-053X
DOI: 10.1111/j.1755-053x.2008.00023.x