Mutual Fund Performance and Performance Persistence PDF
614 Pages·2011·2.982 MB·English
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Superior investment performance is the ultimate objective of mutual fund investors. However, past fund performance is no reliable indicator of future performance. Peter L??ckoff investigates why fund flows and manager changes act as equilibrium mechanisms and drive the performance of both previously outperforming and previously under-performing funds back to average levels. These results have important implications for investors, investment management companies and regulators.
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