Ambassadör R. R. Seppälä 20.1.1962 Washington

Kirje

Senator J. William Fulbright 4.12.1974 Förenta Staternas Senat Washington D.C.

Kirje

Översten ia Alpo K. Marttinen 8.5.1973 Washington D.C.

Kirje

Tasavallan Presidentti Urho Kekkosen virallinen vierailu Yhdysvaltoihin 23.-27.7.1970 (Tasavallan Presidentin saapumispuhe Washingtonissa 23.7.1970 = speech by the President of Finland, Urho Kekkonen upon his arrival in Washington, D.C. on July 23, 1970)

Puhe

Finland and the United States, 1917-1919 : early years of mutual relations

Doctoral dissertation, University of Helsinki

24+1 kansainvälisten suhteiden perusoppikirjaa : havaintoja ja arvioita

Kirjallisuusarvostelu

Mutual Fund Performance and the Market Timing Ability - Finnish Evidence

The purpose of this thesis is to examine the performance of Finnish equity funds and their market timing ability. Fund performance is evaluated by using annual returns and various risk-adjusted measures, including Sharpe ratio, DDSR, SKASR, Treynor ratio and Jensen’s alpha, whereas portfolio manager’s timing ability is examined with Treynor-Mazuy model and Henriksson-Merton model. The data is collected from the Finnish fund market during the sample period from January 1997 to February 2010. Results show that Finnish equity funds have been able to outperform the market return on a risk-adjusted basis, but these results are influenced heavily by the exceptionally good performance during the IT-bubble. Market timing models show that fund managers have been, to some degree, able to time the market but not a single fund have been able to possess security selection ability and market timing ability simultaneously.

Mutual Fund Performance Evaluation

A narrow review on mutual fund performance evaluation methods.