Mutual Fund Performance and Performance Persistence [electronic resource] : The Impact of Fund Flows and Manager Changes / by Peter Lückoff.
By: Lückoff, Peter [author.].
Contributor(s): SpringerLink (Online service).
Material type:
BookPublisher: Wiesbaden : Gabler, 2011Description: XXIV, 588p. 37 illus. online resource.Content type: text Media type: computer Carrier type: online resourceISBN: 9783834965271.Subject(s): Economics | Banks and banking | Economics/Management Science | Finance /BankingDDC classification: 657.8333 | 658.152 Online resources: Click here to access online
In:
Springer eBooksSummary: Superior investment performance is the ultimate objective of mutual fund investors. However, past fund performance is no reliable indicator of future performance. Peter Lückoff investigates why fund flows and manager changes act as equilibrium mechanisms and drive the performance of both previously outperforming and previously underperforming funds back to average levels. These results have important implications for investors, investment management companies and even regulators.
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Superior investment performance is the ultimate objective of mutual fund investors. However, past fund performance is no reliable indicator of future performance. Peter Lückoff investigates why fund flows and manager changes act as equilibrium mechanisms and drive the performance of both previously outperforming and previously underperforming funds back to average levels. These results have important implications for investors, investment management companies and even regulators.
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