scholarly journals Australian Equity Mutual Fund Size Effects

2011 ◽  
Author(s):  
Richard A. Heaney
Keyword(s):  
Mutual Fund ◽  
Size Effects ◽  
Fund Size ◽  
Equity Mutual Fund

scholarly journals Factors affecting equity mutual fund performance: evidence from Indonesia

2018 ◽  
Vol 15 (1) ◽  
pp. 1-9 ◽  
Author(s):  
Gusni ◽  
Silviana ◽  
Faisal Hamdani
Keyword(s):  
Mutual Fund ◽  
Panel Data Analysis ◽  
Market Timing ◽  
Fund Performance ◽  
Mutual Fund Performance ◽  
Stock Selection ◽  
Factors Affecting ◽  
Investment Manager ◽  
Fund Size ◽  
Equity Mutual Fund

The evaluation of equity mutual fund performance and identification factors that affect mutual fund performance is of great interest to an investor in Indonesia. This study investigates the performance of equity mutual fund by using risk-adjusted performance proposed by Treynor (1965) and examines factors affecting mutual fund performance by using the ability of investment manager (market timing and stock selection skill), fund size, and inflation. To achieve the objectives of this study, a total of 19 equity mutual funds was selected using purposive sampling method from the period from 2011 to 2015. A panel data analysis method has been used to analyze the effect of those factors on the equity mutual fund performance. The result showed that equity mutual fund performance tends to fluctuate in Indonesia. Equity mutual fund performance influenced by stock selection skill and inflation, meanwhile, market timing skill and fund size have no significant effect on the equity mutual fund performance.

scholarly journals FAKTOR INTERNAL YANG BERPENGARUH TERHADAP KINERJA REKSADANA SYARIAH DI INDONESIA PERIODE 2014-20171)

2020 ◽  
Vol 6 (1) ◽  
pp. 114
Author(s):  
Farah Faadilah ◽  
Puji Sucia Sukmaningrum
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Coefficient Of Determination ◽  
Expense Ratio ◽  
Turnover Ratio ◽  
Equity Funds ◽  
Endogenous Variables ◽  
Negative Effect ◽  
Fund Size ◽  
Positive Effect

This study aims to determine the effect of fund size, expense ratio and turnover ratio. The data used in this research is the net asset value data and shariah mutual fund prospectus of 4 shariah equity funds for the period 2014-2017. This study describes using multiple linear regression test to prove the relationship between exogenous and endogenous variables. The result of the test shows that partially fund size and positive effect is not significant on the performance of Islamic stock mutual funds, the expense ratio has no significant negative effect on the performance of Islamic equity mutual funds, while the turnover ratio has a significant positive effect on the performance of sharia mutual funds. While simultaneously fund size, expense ratio and turnover ratio have a significant influence with the coefficient of determination of 25,06%% while the remaining 74,94%  influenced by other variables not included in this study.Keywords: Sharia Mutual Funds Performance, Turnover Ratio, Cash Flow, Expense Ratio

Towards a goal programming methodology for constructing equity mutual fund portfolios

2004 ◽  
Vol 4 (6) ◽  
pp. 415-428 ◽  
Author(s):  
Konstantina Pendaraki ◽  
Michael Doumpos ◽  
Constantin Zopounidis
Keyword(s):  
Goal Programming ◽  
Mutual Fund ◽  
Programming Methodology ◽  
Equity Mutual Fund

scholarly journals Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization

2004 ◽  
Vol 94 (5) ◽  
pp. 1276-1302 ◽  
Author(s):  
Joseph Chen ◽  
Harrison Hong ◽  
Ming Huang ◽  
Jeffrey D Kubik
Keyword(s):  
Mutual Fund ◽  
Scale Effects ◽  
Fund Performance ◽  
The Family ◽  
Before And After ◽  
Performance Benchmarks ◽  
Using Data ◽  
Or Team ◽  
Fund Size

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 invest in small and illiquid stocks, suggesting that these adverse scale effects are related to liquidity. Controlling for its size, a fund's return does not deteriorate with the size of the family that it belongs to, indicating that scale need not be bad for performance depending on how the fund is organized. Finally, using data on whether funds are solo-managed or team-managed and the composition of fund investments, we explore the idea that scale erodes fund performance because of the interaction of liquidity and organizational diseconomies.

Does Skin in the Game Matter? Director Incentives and Governance in the Mutual Fund Industry

2009 ◽  
Vol 44 (6) ◽  
pp. 1345-1373 ◽  
Author(s):  
Martijn Cremers ◽  
Joost Driessen ◽  
Pascal Maenhout ◽  
David Weinbaum
Keyword(s):  
Significant Role ◽  
Private Information ◽  
Mutual Fund ◽  
Fund Performance ◽  
Incentive Structure ◽  
Future Performance ◽  
Economic Mechanisms ◽  
Fund Industry ◽  
Mutual Fund Industry ◽  
Equity Mutual Fund

AbstractWe use a unique database on ownership stakes of equity mutual fund directors to analyze whether the directors’ incentive structure is related to fund performance. Ownership of both independent and nonindependent directors plays an economically and statistically significant role. Funds in which directors have low ownership, or “skin in the game,” significantly underperform. We posit two economic mechanisms to explain this relation. First, lack of ownership could indicate a director’s lack of alignment with fund shareholder interests. Second, directors may have superior private information on future performance. We find evidence in support of the first and against the second mechanism.

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