Yap, Chee Jin, Pierce, Raylene and Paisley, Aaron 2008, Managed fund attributes and performance, in AFAANZ/IAAER 2008 : Conference proceedings of the Accounting and Finance Association of Australia and New Zealand and International Association for Accouting Education and Research Conference, AFAANZ/IAAER, [Sydney, N.S.W.].
Accounting and Finance Association of Australia and New Zealand and International Association for Accounting Education and Research Conference
Place of publication
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 found funds with higher management fees and senior in age 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.
Field of Research
150205 Investment and Risk Management
Socio Economic Objective
970115 Expanding Knowledge in Commerce, Management, Tourism and Services
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