A note on closet--indexing

Article Abstract:

Actively managed equity mutual funds that have returns highly correlated with popular stock market indices are charged with ecloset-indexingE. Using a sample of high-R2 growth-and-income funds, the Sharpe ratio of this trading strategy and the market Sharpe ratio prove that widespread closet-indexing does not exist in the mutual fund industry.

Science & research, Research

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Subsistence consumption, habit formation and the demand for long-term bonds

Article Abstract:

A model to show that only complete market investors driven by habit formation only hold the portfolios that have long-term bonds is analyzed.

Forecasts, trends, outlooks, Analysis, Forecasts and trends, Market trend/market analysis, Bonds, Bonds (Securities), Investors

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The value of active portfolio management

Article Abstract:

A comparative study showing how actively managed funds generate higher returns to investors than other funds are presented.

Management dynamics, Management, Comparative analysis, Company business management

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