Mutual Fund Performance and Performance Persistence

Beschreibung

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.
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.

Autor*in

Peter Lückoff

Themen in »Mutual Fund Performance and Performance Persistence«

Bayesian econometrics agency conflicts asset management capacity constraints factor models

Stimmen zu »Mutual Fund Performance and Performance Persistence«

"Eine interessante Lektüre mit neuen Erkenntnissen sowohl für Akademiker als auch Investoren." Absolut report, 4-2012

Details

Link teilen