Why is Persistent Mutual Fund Performance so Difficult to Achieve? The Impact of Fund Flows and Manager Turnover

2009 ◽  
Author(s):  
Wolfgang Bessler ◽  
David P. Blake ◽  
Peter Lueckoff ◽  
Ian Tonks
Keyword(s):  
Mutual Fund ◽  
Fund Performance ◽  
Fund Flows ◽  
Mutual Fund Performance ◽  
The Impact ◽  
Manager Turnover

The impact of financial and economic factors on Islamic mutual fund performance: Evidence from multiple fund categories

2019 ◽  
Vol 52-53 ◽  
pp. 100607
Author(s):  
Gazi Salah Uddin ◽  
Jose Arreola Hernandez ◽  
Chiraz Labidi ◽  
Victor Troster ◽  
Seong-Min Yoon
Keyword(s):  
Mutual Fund ◽  
Fund Performance ◽  
Mutual Fund Performance ◽  
Economic Factors ◽  
The Impact

scholarly journals Investor confidence and mutual fund performance in emerging markets

2018 ◽  
Vol 45 (6) ◽  
pp. 1288-1310 ◽  
Author(s):  
Ann-Ngoc Nguyen ◽  
Muhammad Sadiq Shahid ◽  
David Kernohan
Keyword(s):  
Emerging Markets ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Unobserved Heterogeneity ◽  
Generalized Method Of Moments ◽  
Fund Performance ◽  
Mutual Fund Performance ◽  
Content Type ◽  
Investor Confidence ◽  
The Impact

Purpose The purpose of this paper is to investigate the impact of investor confidence on mutual fund performance in two relatively vulnerable but leading emerging markets, India and Pakistan. Design/methodology/approach A pooled ordinary least squared (OLS) model is used to look at two alternative measures of investor confidence and test for the relationship between investor confidence and mutual fund returns. To check the robustness of the findings, the authors also implement two-stage least squares and generalized method of moments techniques to control for unobserved heterogeneity, simultaneity and dynamic endogeneity problems in the regressors. Findings The paper finds that the returns of mutual funds are positively associated with investor confidence and an interaction effect exists between investor confidence and persistence in performance. The paper also confirms that returns from mutual funds are associated with different fund characteristics such as fund size, turnover, expense, liquidity, performance persistence and the fund’s age. These findings remain robust to alternative model specifications and measures of investor confidence. Originality/value While the previous literature mainly focuses on mutual fund characteristics and the macroeconomic determinants of mutual fund returns, this paper demonstrates that investor confidence plays an important role in determining mutual fund performance. The authors attribute this finding to two relatively unique features of the emerging markets in the study. A lack of awareness of mutual funds as being a low-cost investment vehicle and the interplay of cultural and behavioral changes have prevented investor’s savings from being channeled into investment products, away from gold or property.

The Impact of Option Use on Mutual Fund Performance

2014 ◽  
Author(s):  
Markus Natter ◽  
Martin Rohleder ◽  
Dominik Schulte ◽  
Marco Wilkens
Keyword(s):  
Mutual Fund ◽  
Fund Performance ◽  
Mutual Fund Performance ◽  
The Impact
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