An effective mutual fund market in which investors find and choose the funds which best suit their needs is beneficial from a societal perspective as it makes the markets more efficient to bring the market closer to this goal, it is therefore important to study how retail investors make mutual fund decisions this thesis provides. First and foremost, i would like to express my deepest gratitude to my supervisor, prof dr stefan ruenzi, for his excellent guidance in the completion of my dissertation and offering me a brilliant atmosphere for doing research i appreciate remarks and comments by prof dr erik theissen, my second examiner i would also. Rating and fund performance in the same way as credit ratings this link therefore had to be analyzed in the empirical part of this study the empirical part of this thesis therefore tests the predictive power of mutual fund ratings from morningstar and feri for future return for the german fund universe from 2000 to 2011. Analysing the historical performance of mutual funds do not guarantee future performance, however, this may give an idea of how the fund is likely to perform in different market con- ditions in this research we address multiple research issues these include measuring the performance of selected mutual schemes on the.
Mutual fund performance in the us market - examination code and name: gra 19003 master thesis supervisor: ilan cooper hand-in-date: 01092016 campus: bi oslo study programme: master of science in financial economics this thesis is a part of the msc programme at bi norwegian business school. Title certificate declaration acknowledgement contents list of tables list of figures legend i introduction 11 introduction 12 mutual funds 13 sbi mutual funds 14 statement of the problem 15 objectives of the study 16 hypotheses. Recent financial crisis raised the issue of understanding the liquidity risk of financial assets and institutions this thesis studies the ability that exposure and sensitivity to liquidity risk has in predicting future performance of lithuanian mutual funds from 2004 till 2010 the paper observes that mutual funds. To further help improve the investor's mutual fund decision process, this phd thesis provides a new perspective from two different angles: market efficiency and social responsibility in the first part, we consider the fi- nancial calamities from the recent past by looking into market efficiency doing so, we enable investors to.
Earlier studies of mutual fund performance have not been able to exclusively show that it is profitable to invest in the stock market through mutual funds most studies are concerned with how mutual funds perform in relation to a benchmark index we take a different approach and compare actual investment performance of. This may trigger more research about mutual funds in the us rather than other regions this dissertation also focuses on us mutual funds from figure 13 it can be observed that the us has almost half of the total worldwide mutual fund assets while europe has about one third of the total worldwide mutual fund assets. A thesis submitted to department of department of accounting and finance glory be the almighty god for his grace and mercies bestowed on me throughout my studies my deepest gratitude is to my supervisor, dr kwame mireku study seeks to evaluate the performance of the anidaso mutual fund of the new. Mutual funds have developed tremendously since 1990s that has drawn attention and required deep study their explosive growth are encouraged from the globalization and accelerated from the integration of many financial markets around the world following the popular trend, the thesis focuses on assessing the.
Abstract this study looks at some factors influencing mutual fund performance fund management location, family status and asset allocation and timing ability are examined using monthly returns on 4545 funds from morningstar from january 1970 to june 2010, the study examines whether location influences the return a. The purpose of this thesis is to investigate whether mutual fund governance has an effect on fund performance, fee structure, and stock selection and market timing of the egyptian fund managers' pre-and-post 2007-2008 financial crises the thesis includes three separate but inter-connected studies on the effect of the. Performance definition: when mutual funds or funds are used in this thesis only equity mutual funds are considered accordingly fixed income funds, mixed funds or other special funds are not considered methodology: extensive research exists in our subject of interest however academics have attained divergent results.
This can determine what factor that affect the end result for the mutual fund's performance the methodology for this thesis is of a deductive approach and mainly performed with qualitative data the study includes the result of in-depth studies with six fund companies and their sweden funds the in-depth. Essays on derivative pricing and mutual fund manager behavior dissertation of the university of st gallen school of management economics, law summary this dissertation consists of three papers, each of which represents an individ- ual research topic in the first paper, the valuation of derivatives on car.
Our thesis focuses on the scandinavian fund market, where we compare concentrated funds with conventional funds furthermore, we want to find out if active share and tracking error differs between these categories of mutual funds we want to focus our study on the scandinavian fund market, where. It is with this fact in mind that present study attempts to analyse the growth and performance of equity and hybrid schemes of 10 mutual funds from 2002-03 to 2010-11 it also studies the perception of 200 mutual fund investors in punjab with the help of a pre-tested questionnaire for analysis of data, the. Masaryk university faculty of economics and administration field of study: financial management analysis of mutual funds' performance in selected country during the financial crisis period master thesis thesis supervisor: author : ing dagmar linnertová arta hashimi, 417711 brno, 2014. This is to certify that the thesis entitled “performance of the indian mutual fund industry: a study with special reference to growth schemes” is a bonafied record of the research work done by mrsn lakshmi at the department of commerce, pondicherry university, under my.
The twin questions of whether ratings possess predictive power and whether ratings are persistent are the main catalysts for this study this dissertation comprises three essays on mutual fund ratings the first examines the relation between the morningstar stewardship grade and various fund characteristics, such as size,. To study the influence and role of mutual funds in managing a portfolio • to analyze the various risk-return characteristics of mutual funds and attempt to establish a link between the demographics (age, income, employment status etc), risk tolerance of investors • to analyze the performance of top mutual funds in india. Socially responsible investment, portfolio management institutional characteristics and performance of mutual funds in kenya by cyrus iraya mwangi a research thesis submitted to the school of business in partial fulfillment of the. Phd thesis chasing stock market returns mutual funds extrapolative flow, performance and asset pricing implications keywords: mutual funds, extrapolation, market-timing alberto cagnazzo phd in economics xxviii cycle department of economics and finance luiss guido carli supervisor: prof.