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Zusammenfassung

This quotation is supported by an array of academic studies providing empirical evidence that active mutual funds underperform the market on average, that the majority of individual funds underperform the market and that those few funds outperforming, if at all, are not identifable ex ante. Still, the dominant share of professionally managed assets follow an active investment strategy, despite the strong growth of passive products in recent years. This apparent contradiction makes active mutual funds an interesting field of academic research on the behavior of market participants and its implications for the value of active management.

Keywords

Mutual Fund Hedge Fund Fund Manager Past Performance Mutual Fund Manager 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Gabler Verlag | Springer Fachmedien Wiesbaden GmbH 2011

Authors and Affiliations

  • Peter Lückoff

There are no affiliations available

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