Judging Fund Managers by the Company They Keep

Article Abstract:

A performance evaluation measure is developed that assesses a fund manager's skill based on the level of similarity between his/her investment decisions and those of managers with distinguished performance track-records. The measure is found to yield significant predictability in US equity funds returns.

Decision-making, Models, Decision making, Evaluation, Measurement, Comparative analysis, Financial managers

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On the industry concentration of actively managed equity mutual funds

Article Abstract:

A study on U.S. based mutual funds to understand the extent of gains achieved by mutual fund managers by opting for industry concentration rather than a well-diversified portfolio is presented. The study relates to the period from 1984 to 1999.

Financial management, Science & research, Management investment, open-end, Research, Company investment, Investments, Mutual fund industry, Industry forecasts

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Do the Fama-French factors proxy for innovations in predictive variables?

Article Abstract:

The article proposes the feasibility of alternate Fama-French methods to examine the impact of business conditions on investment returns.

Analysis, Usage, Regression analysis, Review of past year, Business conditions

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