We evaluate the economics of financial intermediation in alternative assets by investigating the allocation and performance of pension fund investments in real estate, the most significant alternative asset class for institutional investors. We document substantial heterogeneity in real estate investment cost and performance, determined by two main factors: mandate size and investment approach....

The investment of mutual funds which investors are often required evaluating the investment strategies according to their own subjective preferences in terms of numerical values from various criteria. This situation can be regarded as a fuzzy multiple criteria decision-making (MCDM) problem. The purpose of this study attempts to propose an alternative approach, fuzzy multiple criteria decision ...

Mutual funds hold 32% of the U.S. equity market and comprise 58% retirement savings, yet retail investors consistently make poor choices when selecting funds. Theory suggests are partially due to fund managers creating unnecessarily complex disclosures fee structures keep uninformed obfuscate performance. An empirical challenge in investigating this “strategic obfuscation” theory is isolating m...

Abstract The research aimed to check whether investment fund managers maintain costs similarly from period period. verified the hypothesis that in subsequent periods at a similar level. study used method based on contingency tables which are analyse persistence of performance. In this study, we replaced performance with costs, assuming also control these values. Costs were defined as: (1) total...

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...

Indian Mutual Fund Industry has witnessed enormous expansion in terms of growth Assets under Management (AUM), from a meagre Rs. 25 crores 1964 to 36.59 lakh August 2021. Equity Multi-cap mutual funds tend invest stocks companies across the stock market irrespective sector and size. As result, these provide much-needed diversification. In direct plan, investor decides directly without routing i...