This paper examines the performance of fund managers responsible for managing the investment decisions of UK pension funds. The paper examines both individual fund manager performance of pension funds under management, and also the persistence of this performance over time. Previous work on UK pension funds has found little evidence of fund manager persistence, but we suggest that this might be...

where g1(x) = εg11(x)+ε g12(x)+ε g13(x), g2(x) = εg21(x) + ε g22(x) + ε g23(x) and f(x) = εf1(x) + εf2(x) + ε f3(x) where g1i, g2i, f2i have degree k, m and n respectively for each i = 1, 2, 3, and ε is a small parameter. Note that when g1(x) = 0 we obtain the generalized Liénard polynomial differential systems. We provide an upper bound of the maximum number of limit cycles that the previous d...

We use mutual fund flows as a measure of individual investor sentiment for different stocks, and find that high sentiment predicts low future returns. Fund flows are dumb money–by reallocating across different mutual funds, retail investors reduce their wealth in the long run. This dumb money effect is related to the value effect: high sentiment stocks tend to be growth stocks. High sentiment a...

Given the increasing importance of digital economy, competition for technologies and solutions, as well contest to influence norms, standards, regulatory mechanisms, is escalating. This distributed unevenly—digitalization leaders, primarily key Group 20 (G20) members, gain significant advantages, their potential shaping regulation through consistent inclusion domestic standards norms in documen...

Glycerol monolaurate (GML), a representative fatty acid glyceride, was used to promote growth. This study investigated the effects of GML in diets on growth, serum biochemical parameters, antioxidant capacity, liver morphology and lipid metabolism for juvenile pompano Trachinotus ovatus . Six groups T. (mean weight = 14.00 ± 0.70 g) were fed with six diets, containing varying levels 0.00% (G0),...