Investment Banks and Their Affiliated Mutual Funds: International Evidence from IPO Allocations

2012 ◽  
Author(s):  
Tim Mooney
Keyword(s):  
Mutual Funds ◽  
Investment Banks ◽  
International Evidence

scholarly journals Performance Evaluation of Investment (Mutual) Funds

2014 ◽  
Vol 15 (4) ◽  
pp. 398-407
Author(s):  
Povilas Vyšniauskas ◽  
Aleksandras Vytautas Rutkauskas
Keyword(s):  
Performance Evaluation ◽  
Mutual Funds ◽  
Historical Data ◽  
Investment Banks ◽  
Investment Fund ◽  
Practical Application ◽  
Management Fees ◽  
Proposed Model ◽  
And Performance ◽  
Main Components

The efficiency of an investment fund is one of the main components in evaluating the performance of the fund. This study seeks for introducing and comparing risk and performance evaluation ratios. The paper is aimed at testing the worked out ratios and at distinguishing between the best ones for the purpose of evaluating the performance of Lithuanian mutual funds. Scientific studies show that a standard deviation, alpha, beta, Sharpe and Treynor ratios are mostly employed for identifying the performance of mutual funds that are also compared with their benchmark index to establish if these funds are outperformed and if is it worth paying management fees to investment banks for managing mutual funds. Historical data were selected for the period from 2012-01-02 to 2013-10-15 analysing the prices of monthly funds. The paper points out the areas of a practical application of the proposed model for investment fund valuation, which may not only provide valuable outcomes for practitioners but also may inspire further research on this article.

The Performance of Investment Bank-Affiliated Mutual Funds: Conflicts of Interest or Informational Advantage?

2012 ◽  
Vol 47 (3) ◽  
pp. 537-565 ◽  
Author(s):  
(Grace) Qing Hao ◽  
Xuemin (Sterling) Yan
Keyword(s):  
Mutual Funds ◽  
Initial Public Offering ◽  
Conflict Of Interest ◽  
Strong Evidence ◽  
Conflicts Of Interest ◽  
Investment Banks ◽  
Seasoned Equity Offering ◽  
Investment Bank ◽  
Public Offering ◽  
Informational Advantage

AbstractUsing a comprehensive sample of U.S. mutual funds from 1992 to 2004, we find strong evidence that investment bank-affiliated funds underperform unaffiliated funds. Consistent with the conflict of interest hypothesis, we find that affiliated funds hold disproportionately large amounts of stocks of their initial public offering and seasoned equity offering clients. Moreover, worse-performing clients are more likely to be held by affiliated funds. Our results are robust to alternative risk adjustments, portfolio weighting schemes, and regression methodologies. Overall, our findings are consistent with the idea that investment banks use affiliated funds to support underwriting business at the expense of fund shareholders.

The Study of the Determinants Affecting the Performance of Mutual Funds in Indiaequity Mutual Fund

2019 ◽  
Vol 54 (5) ◽  
pp. 58
Author(s):  
Preeta Sinha ◽  
Tamal Taru Roy ◽  
Debi Prasad Lahiri
Keyword(s):  
Mutual Funds ◽  
Mutual Fund
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