Mutual fund performance and performance persistence

The Impact of Fund Flows and Manager Changes

Autori

• Peter Lückoff

Parametri

• Libri di testo
• Libri di testo universitari

Maggiori informazioni sul libro

Superior investment performance is the ultimate objective of mutual fund investors. However, past fund performance is no reliable indicator of future performance. Peter Lückoff investigates why fund flows and manager changes act as equilibrium mechanisms and drive the performance of both previously outperforming and previously underperforming funds back to average levels. These results have important implications for investors, investment management companies and even regulators.

Lingua: Inglese

Pubblicato: 2011