Detail The Effects of Mutual Fund Managers’ Characteristics on Their Portfolio Performance, Risk and Fees   Oleh:  Golec, Joseph H. Jenis: Article from Bulletin/Magazine Dalam koleksi: FINANCIAL SERVICES REVIEW vol. 5 no. 2 (1996), page 133-147. Topik: mutual funds; mutual fund; portfolio performance; risk and fees Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: FF18 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel The purpose of this study is to test whether a mutual fund managers' characteristics help to explain fund performance, risk and fees. The statistical tests consider performance, risk and fees simultaneously to avoid biased results produced by earlier studies that ignore simultaneity. Results show that a fund's performance, risk and fees are significantly impacted by its manager's characteristics. All else equal, investors can expect better risk - adjusted performance from younger managers with MBA degrees who have longer tenure at their funds. Also, funds with low fees and more diversified portfolios perform better. The most significant predictor of performance is the length of time a manager has managed his or her fund (tenure). Funds that keep administrative expenses low also perform relatively well, but large management fees do not necessarily imply poorer performance. Apparently, a large management fee signals superior investment skill which leads to better performance. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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