We find that fund managers who began their careers during recessions produce superior returns. This performance is not unconditional, as they exhibit better market timing than non-recession counterparts in recessions, but do demonstrate stock picking booms. Exploring managers' portfolio choices across years, we recession tilt investments towards defensive, rather cyclical, industries and before...

This study analyzes the financial performance of mutual fund on account risk adjusted evaluation techniques: Sharpe's ratio. incorporates examination effect market index return, Treasury bill rate and systematic performance. As in ratio, return is taken as dependent variables; other hand, are predictor variables. Findings imply that funds Nepal have not satisfactory based Likewise, further expo...

We investigate the effect of scale on performance in the active money management industry. We first document that fund returns, both before and after fees and expenses, decline with lagged fund size, even after accounting for various performance benchmarks. We then explore a number of potential explanations for this relationship. This association is most pronounced among funds that have to inve...

The paper investigates the strategic behavior of hedge fund families. It focuses on decisions to start and liquidate family-member funds. Hedge fund families tend to liquidate funds that underperform compared to other member funds, and to replace them by new ones. By choosing a launch time after a short period of superior performance by their member funds, families extend the spillover to new f...

Purpose of the study The relationship between mutual fund performance and fund flows has been studied widely, but less attention has been given towards mutual fund launches and their success. For services the company itself plays as the brand, and thus product launch can be viewed as brand line extension. This paper investigates the importance of brand performance, company track record, on the ...