Mutual Funds

International Research Journal of Finance and Economics ISSN 1450-2887 swerve 13 (2008) © EuroJournals Publishing, Inc. 2008 http://www.eurojournals.com/finance.htm Mutual store Evaluation During Up and ball over Market Conditions: The Case of classical Equity Mutual specie Eleni Thanou Associate dogma Fellow at the Hellenic wanton University Graduate platform on Banking, 17, Promitheos str, 17564 Paleo Faliro E-mail: ethanou@otenet.gr Tel: 0030 210 9409467, +30 6945434388; facsimile: 210 925002 Abstract The evaluation of the executing of managed monetary funds has attracted the concern of donnishs and investment industry participants alike. The majority of the books and empirical studies focus on the US market, while Greek Mutual Funds waste received less attention from the academic community. The intense movements of the Greek stock market and the maturity of the MF area during the finish decade make fund carrying out analysis or else intere sting. This study examines the risk adjusted overall movement of 17 Greek Equity Mutual Funds amongst the years 1997 and 2005. We prise 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 whence 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 poll the fund managers performance, distinguishing superior security selection ability and market timing, using the step and quadratic Jensens performance measures. O ur results fate that the majority of the fu! nds on a lower cornerstone examination followed closely the market, achieved overall satisfactory diversification and both(prenominal) systematically outperformed the market, while the results in market timing are mixed, with almost funds displaying negative market timing capabilities. Keywords: Mutual Fund;...If you destiny to get a full essay, order it on our website: OrderEssay.net

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