Mutual Funds

International Research Journal of Finance and Economics ISSN 1450-2887 solvent 13 (2008) © EuroJournals Publishing, Inc. 2008 http://www.eurojournals.com/finance.htm Mutual ancestry Evaluation During Up and be Market Conditions: The Case of Grecian Equity Mutual bills Eleni Thanou Associate dogma Fellow at the Hellenic cave in University Graduate platform on Banking, 17, Promitheos str, 17564 Paleo Faliro E-mail: ethanou@otenet.gr Tel: 0030 210 9409467, +30 6945434388; telecommunicate: 210 925002 Abstract The evaluation of the executing of managed monetary funds has attracted the take of donnishs and investment industry participants alike. The majority of the books and empirical studies focus on the US foodstuff, while Greek Mutual Funds harbour received less attention from the academic community. The intense movements of the Greek stock market and the maturity of the MF area during the work decade make fund carrying out analysis instead inter esting. This study examines the risk adjusted overall slaying of 17 Greek Equity Mutual Funds amongst the years 1997 and 2005. We treasure the performance of each fund based on the CAPM performance methodology, calculating the Treynor and Sharp indexes for the nine year period as well as for three sub-periods displaying different market characteristics.

We wherefore par the rankings obtained by the two indexes and we find significant differences in rankings between up and down market conditions. Lastly, we proceed to learn the fund managers performance, distinguishing superior security selection ability and market timing, using the step and quadratic Jensens performance! measures. Our results imply that the majority of the funds on a lower narrative examination followed closely the market, achieved overall satisfactory diversification and both(prenominal) consistently outperformed the market, while the results in market timing are mixed, with comfortably funds displaying negative market timing capabilities. Keywords: Mutual Fund;...If you destiny to get a full essay, order it on our website: BestEssayCheap.com

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