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Dynamic Aspects of Mutual Fund Performance

  • Peter Lückoff

Abstract

The previous chapters have argued on a theoretical basis that on average the investment performance of active mutual funds is negative net of costs and empirical results are consistent with this view. However, it is still possible that some fund managers are able to outperform their benchmark. If some managers are good at picking stocks, then it is reasonable to believe that such talents persist over time. The literature on performance persistence aims to test this conjecture. Interestingly, over periods of one year or longer, no persistence in fund performance can be documented.

Keywords

Abnormal Return Mutual Fund Hedge Fund Fund Manager Fund Performance 
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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