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Investing in Equity Mutual Funds

We construct optimal portfolios of equity funds by combining historical returns on funds and passive indexes with prior views about asset pricing and skill. By including both benchmark and nonbenchmark indexes, we distinguish pricing-model inaccuracy from managerial skill. Even modest con¯dence in a pricing model helps construct portfolios with high Sharpe ratios. Investing in active mutual funds can be optimal even for investors who believe active managers cannot outperform passive indexes. Optimal portfolios exclude hot-hand funds even for investors who believe momentum is priced. Our large universe of funds o®ers no close substitutes for the Fama-French and momentum benchmarks....

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Investing in Equity Mutual Funds Investing in Equity Mutual Funds Composition and Distribution, Distribution Patterns, Biogeographic Region, Aphodiini Dung, Species Geographic, Taxonomic Data
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Effect of Fund Size on the Performance of Mutual Funds Evidence from Iran

There is an oft-quoted saying believed to have originated as a Chinese proverb: “May you live in interesting times”. It is often not interpreted with a positive connotation! At present, it would be fair to say that the Indian mutual fund industry is living in interesting times. It remains to be seen how positively that can be interpreted. The last few years have seen a series of events, both within and outside the Indian economy, which have had a deleterious effect on the industry. The world as we knew it has changed in many ways....

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13th Annual International Conference on private Investment Funds

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