The Persistence of Risk-Adjusted Mutual Fund Performance
نویسندگان
چکیده
منابع مشابه
Mutual Fund Ratings: What is the Risk in Risk-Adjusted Fund Returns?
Several ̄rms use historical returns to rate or rank the performance of mutual funds, for the bene ̄t of individual investors desiring to invest in one or more of them. Because the past will not exactly repeat itself, such ratings re°ect di®erent notions of \risk" faced by investors. This paper describes and analyzes the performance measures employed by some advisory ̄rms. Approximations are deri...
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ژورنال
عنوان ژورنال: The Journal of Business
سال: 1996
ISSN: 0021-9398,1537-5374
DOI: 10.1086/209685