Performance of Finnish Mutual Funds: A Decomposition Approach
Contribuinte(s) |
Svenska handelshögskolan, Institutionen för finansiell ekonomi och ekonomisk statistik, finansiell ekonomi Swedish School of Economics and Business Administration, Department of Finance and Statistics, Finance |
---|---|
Data(s) |
2002
|
Resumo |
Mutual funds have increased in popularity among Finnish investors in recent years. In this study returns on domestic funds have been decomposed into several elements that measure different aspects of fund performance. The results indicate that fund managers in the long run tend to allocate fund capital between different stock categories in a profitable way. When it comes to the short term timing of their allocation decisions they are however unable to further improve overall performance. The evidence also suggests that managers possess the ability to pick above average performing stocks within the individual stock categories. During the investigated period most funds returned more than a broad benchmark index even after fees and indirect costs were taken into account. |
Formato |
1837 bytes 226687 bytes application/pdf text/plain |
Identificador |
http://hdl.handle.net/10227/163 URN:ISBN:951-555-718-6 951-555-718-6 0357-4598 |
Idioma(s) |
en |
Publicador |
Svenska handelshögskolan Swedish School of Economics and Business Administration |
Relação |
Working Papers 469 |
Direitos |
Publikationen är skyddad av upphovsrätten. Den får läsas och skrivas ut för personligt bruk. Användning i kommersiellt syfte är förbjuden. This publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited. Julkaisu on tekijänoikeussäännösten alainen. Teosta voi lukea ja tulostaa henkilökohtaista käyttöä varten. Käyttö kaupallisiin tarkoituksiin on kielletty. |
Palavras-Chave | #mutual funds #stock market #finland #decomposition analysis #Finance |
Tipo |
Text |