Mutual Fund Flows and Investor Returns

preview-18
  • Mutual Fund Flows and Investor Returns Book Detail

  • Author : Geoffrey C. Friesen
  • Release Date : 2009
  • Publisher :
  • Genre :
  • Pages : 36
  • ISBN 13 :
  • File Size : 48,48 MB

Mutual Fund Flows and Investor Returns by Geoffrey C. Friesen PDF Summary

Book Description: We examine the timing ability of mutual fund investors using cash flow data at the individual fund level. Over 1991-2004 equity fund investor timing decisions reduce fund investor average returns by 1.56% annually. Underperformance due to poor timing is greater in load funds and funds with relatively large risk-adjusted returns. In particular, the magnitude of investor underperformance due to poor timing largely offsets the risk-adjusted alpha gains offered by good-performing funds. Investors in both actively managed funds and index funds exhibit poor investment timing. We demonstrate that our empirical results are consistent with investor return-chasing behavior.

Disclaimer: www.yourbookbest.com does not own Mutual Fund Flows and Investor Returns books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

Mutual Fund Flows and Investor Returns

Mutual Fund Flows and Investor Returns

File Size : 43,43 MB
Total View : 9497 Views
DOWNLOAD

We examine the timing ability of mutual fund investors using cash flow data at the individual fund level. Over 1991-2004 equity fund investor timing decisions r

Performance of Mutual Funds

Performance of Mutual Funds

File Size : 43,43 MB
Total View : 778 Views
DOWNLOAD

This book responds to a growing demand for mutual funds. This timely collection of original papers focuses on changes of international investment in Europe, the