Performance of Mutual Funds An International

Recently there has been a growing demand for mutual funds and how their performance compares to other funds on an international level. This significant new book focuses on the changes in some countries regarding the new paradigm of international investing through mutual funds. This is an indispensable collection of original papers on the mutual fund industry focusing on various European countries, the U.S. and New Zealand. Performance is assessed using a fresh approach, innovative techniques and various models. This book will allow the reader and practitioner to gain a perspective and understanding of mutual funds on an international level

GREG N. GREGORIOU is Associate Professor of Finance and coordinator of faculty research in the School of Business and Economics at State University of New York-Plattsburgh. He obtained his PhD (Finance) from the University of Quebec at Montreal and is the hedge fund editor for the peer-reviewed journal Derivatives Use, Trading and Regulation, published by Palgrave-MacMillan, based in the U.K. He has authored over 50 articles on hedge funds, and managed futures in various U.S. and U.K. peer-reviewed publications, including the Journal of Portfolio Management, Journal of Futures Markets, European Journal of Finance, Journal of Asset Management, European Journal of Operational Research, and Annals of Operations Research. Gregoriou has edited twelve books on hedge funds, funds of hedge funds, CTAs, IPOs, Corporate Governance and investment management.

Acknowledgments	p. xi
Notes on the Contributors	p. xii
Introduction	p. xix
Returns and Fund Flows in Canadian Mutual Funds	p. 1
Introduction	p. 1
Literature on performance and trading behavior of mutual funds	p. 2
Methodology	p. 3
Data	p. 5
Empirical findings	p. 6
Conclusion	p. 14
References	p. 15
New Zealand Equity Fund Performance Appraisal: A Non-parametric Approach	p. 17
Introduction	p. 17
New Zealand mutual fund market	p. 19
Sample	p. 21
Methodology	p. 21
Empirical findings	p. 26
Conclusion	p. 28
References	p. 29
Danish Mutual Funds: Description, Costs, Performance, and a European Comparison	p. 31
Introduction	p. 31
Size of the Danish mutual fund market	p. 32
What is a typical "Danish mutual fund"?	p. 37
Expenses and mutual fund investments	p. 44
Costs and performance of Danish mutual funds relative to European funds	p. 49
Costs and performance of Danish mutual funds	p. 56
Conclusion	p. 62
References	p. 62
Performance Idiosyncrasy in the Italian Mutual Fund Industry	p. 63
Introduction	p. 63
The Italian mutual funds industry	p. 65
The data	p. 65
Conditional performance evaluation	p. 70
Empirical results	p. 71
Conclusion	p. 82
References	p. 83
Seasonality and Performance in Spanish Mutual Funds Management	p. 85
Introduction	p. 85
Performance and seasonality measurement	p. 87
Database	p. 89
Empirical results	p. 92
Conclusion	p. 104
References	p. 106
On the Relationship Between Price and Quality in the US Mutual Fund Industry: Evidence from the 1992-2003 Period	p. 108
Introduction	p. 108
Data	p. 111
Results	p. 117
Conclusion	p. 124
References	p. 125
Yaari's Dual Theory of Choice, Generalized Gini's Mean Differences, and Performance Evaluation of Mutual Funds	p. 127
Introduction	p. 127
The investor's portfolio selection problem	p. 128
A dual measure of risk and (generalized) Gini's mean differences	p. 136
Empirical example	p. 142
Conclusion	p. 146
References	p. 150
Efficiency of US Mutual Funds Using Data Envelopment Analysis	p. 152
Introduction	p. 152
Literature review	p. 154
Data	p. 155
Methodology	p. 156
Empirical results	p. 159
Conclusion	p. 166
References	p. 166
Performance Persistence of Unit Funds: Evidence from a Small, Integrated Market	p. 168
Introduction	p. 168
Literature review	p. 169
Methodology	p. 171
Data	p. 172
Results	p. 173
Implications	p. 180
Conclusion	p. 180
References	p. 181
What Is Behind the Financial Performance of Ethical Funds? A Study of the American Market	p. 183
Introduction	p. 183
Literature review	p. 185
Measuring ethical performance	p. 186
Empirical methodology and data	p. 187
Performance and management style	p. 190
Ethical strength, investment style and performance	p. 194
Ethical strength and management variables	p. 201
Conclusion	p. 204
References	p. 208
The German Mutual Fund Market	p. 210
Introduction	p. 210
Historical development	p. 212
The fund market today	p. 216
The legal framework	p. 223
Governance and transparency rules	p. 227
Forecast	p. 228
Analysis of the Size Effect on Spanish Mutual Investment Funds	p. 230
Introduction	p. 230
The relationship between fund size and performance	p. 231
Data and methodology	p. 235
Analysis of results	p. 238
Conclusion	p. 245
References	p. 246
Index	p. 249
Table of Contents provided by Ingram. All Rights Reserved.

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

FREE SHIPPING

Rent More, Save More! Use code: BBRENTAL

5% off 1 book, 7% off 2 books, 10% off 3+ books

Performance of Mutual Funds An International Perspective

Summary

Author Biography

Table of Contents

Supplemental Materials