Managed fund attributes and performance : Australian evidence

Yap, Chee Jin and Pierce, Raylene 2008, Managed fund attributes and performance : Australian evidence, in PBFEAM 2008 : Conference proceedings and abstracts from the 16th Annual Conference on Pacific Basin Finance Economics Accounting Management Conference, Faculty of Business, Queensland University of Technology, Brisbane, Qld., pp. 1-39.

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Title Managed fund attributes and performance : Australian evidence
Author(s) Yap, Chee Jin
Pierce, Raylene
Conference name Conference on Pacific Basin Finance Economics Accounting Management (16th : 2008 : Brisbane, Australia)
Conference location Brisbane, Queensland
Conference dates 2-4 July 2008
Title of proceedings PBFEAM 2008 : Conference proceedings and abstracts from the 16th Annual Conference on Pacific Basin Finance Economics Accounting Management Conference
Editor(s) Robinson, Tim
Christensen, Mark
Fletcher, Angela
Publication date 2008
Conference series Conference on Pacific Basin Finance, Economics, Accounting and Management
Start page 1
End page 39
Publisher Faculty of Business, Queensland University of Technology
Place of publication Brisbane, Qld.
Keyword(s) managed fund
performance
fund attributes
fund characteristics JEL classification: G23
Summary This cross-sectional study goes beyond the traditional performance evaluation of managed funds and extends the literature to consider fund-specific attributes that influence performance. Using a sample of 168 Australian open-ended equity funds, the risk adjusted performance is measured using three alternative evaluation techniques. We find that funds with higher management fees and long fund history have contributed to the underperformance. Along with the traditional attributes identified by the literature, market capitalisation of the security held by the fund is included as a unique attribute with significant results, indicating that funds targeting small capitalisation companies display superior performance.
ISBN 9781741072433
Language eng
Field of Research 150103 Financial Accounting
Socio Economic Objective 970115 Expanding Knowledge in Commerce, Management, Tourism and Services
HERDC Research category E1 Full written paper - refereed
Copyright notice ©2008, PBFEAM
Persistent URL http://hdl.handle.net/10536/DRO/DU:30018038

Document type: Conference Paper
Collection: School of Accounting, Economics and Finance
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