Add to ORKGThis paper analyzes mutual-fund performance from an investor\u27s perspective. We study the portfolio-choice problem for a mean-variance investor choosing among a risk-free asset, index funds, and actively managed mutual funds. To solve this problem, we employ a Bayesian method of performance evaluation; a key innovation in our approach is the development of a flexible set of prior beliefs about managerial skill. We then apply our methodology to a sample of 1,437 mutual funds. We find that some extremely skeptical prior beliefs nevertheless lead to economically significant allocations to active managers
This paper analyses the impact of the emergence of new funds on the portfolio decisions of mutual fu...
For as long as managed mutual funds have been in existence there has been a desire to accurately ass...
The growth in the US mutual fund industry has remained slow, despite the recent upside blow in the o...
This paper analyzes mutual-fund performance from an investor\u27s perspective. We study the portfoli...
Mutual fund performance is often measured relative to a designated benchmark portfolio. This paper p...
Our framework for evaluating and investing in mutual funds combines observed returns on funds and pa...
This dissertation investigates the performance of hedge funds and actively managed U.S. equity mutua...
Performance of active fund managers continues to be examined in finance literature. Current convicti...
We construct optimal portfolios of equity funds by combining historical returns on funds and passive...
This paper surveys and critically evaluates the literature on the role of management effects and fun...
The paper provides a critical review of empirical findings on the performance of mutual funds, mainl...
We analyze the impact of prior performance on the risk-taking behavior of mutual fund managers. We c...
I present a model that can transform discounts on closed-end mutual funds into a measure of investor...
Mutual fund investors are concerned with the selection of the best fund in terms of performance amon...
The paper provides a critical review of empirical findings on the performance of mutual funds, mainl...
This paper analyses the impact of the emergence of new funds on the portfolio decisions of mutual fu...
For as long as managed mutual funds have been in existence there has been a desire to accurately ass...
The growth in the US mutual fund industry has remained slow, despite the recent upside blow in the o...
This paper analyzes mutual-fund performance from an investor\u27s perspective. We study the portfoli...
Mutual fund performance is often measured relative to a designated benchmark portfolio. This paper p...
Our framework for evaluating and investing in mutual funds combines observed returns on funds and pa...
This dissertation investigates the performance of hedge funds and actively managed U.S. equity mutua...
Performance of active fund managers continues to be examined in finance literature. Current convicti...
We construct optimal portfolios of equity funds by combining historical returns on funds and passive...
This paper surveys and critically evaluates the literature on the role of management effects and fun...
The paper provides a critical review of empirical findings on the performance of mutual funds, mainl...
We analyze the impact of prior performance on the risk-taking behavior of mutual fund managers. We c...
I present a model that can transform discounts on closed-end mutual funds into a measure of investor...
Mutual fund investors are concerned with the selection of the best fund in terms of performance amon...
The paper provides a critical review of empirical findings on the performance of mutual funds, mainl...
This paper analyses the impact of the emergence of new funds on the portfolio decisions of mutual fu...
For as long as managed mutual funds have been in existence there has been a desire to accurately ass...
The growth in the US mutual fund industry has remained slow, despite the recent upside blow in the o...