Download or read book Analysis of Components of Investment Performance an Empirical Study of Mutual Funds in India written by Ananda S and published by . This book was released on 2007 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, an attempt has been made to examine the components and sources of investment performance in order to attribute it to specific activities of Indian fund managers. It also attempts to identify a part of observed return which is due to the ability to pick up the best securities at given level of risk. For this purpose, Fama's methodology is adopted here. The study covers the period between April 1999 and March 2003 and evaluates the performance of mutual funds based on 113 selected schemes having exposure more than 90% of corpus to equity stocks of 25 fund houses. The empirical results reported here reveal the fact that the mutual funds were not able to compensate the investors for the additional risk that they have taken by investing in the mutual funds. The study concludes that the influence of market factor was more severe during negative performance of the funds while the impact selectivity skills of fund managers was more than the other factors on the fund performance in times of generating positive return by the funds. It can also be observed from the study that selectivity, expected market risk and market return factors have shown closer correlation with the fund return.

Download or read book Analysis of Investment Pattern of Mutual Funds Investors An Empirical Study in Orissa written by Suman Chakraborty and published by . This book was released on 2015 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mutual fund industry in India has developed rapidly and gained a lot of popularity from the past couple of decade, especially after incorporation of Unit Trust of India in 1964. There has concomitantly evolved a rich plausible academic literature consisting of numerous topics related to mutual funds. One of the most frequently addressed topics in the current literature is Investor's perception and preferences about various mutual funds schemes and the factors which influences different class of investors to invest in mutual funds. With this background, a survey was conducted among 200 mutual fund investors in nine urban and semi-urban cities of Orissa (India). On the basis of literature review, nine factors are chosen and grouped into four major components by applying Principal Component Analysis. Study reveals, safety, past return and liquidity are the most influencing factors in inducing most of the investors to opt for the mutual fund schemes. For the purpose of the study, parametric and non-parametric statistical methods have been employed. From the research point of view, such a study will help in developing and expanding knowledge in this field of personal investment.

Download or read book An Empirical Study of Components of Investment Performance written by Jerome R. Votaw and published by . This book was released on 1974 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investment Pattern Analysis of Kolkata based Corporate and institutional Investors in mutual Fund written by Kautilya Kashyap and published by GRIN Verlag. This book was released on 2013-01-28 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2010 in the subject Business economics - Offline Marketing and Online Marketing, grade: 8, ICFAI IBS Business School Hyderabad, course: MBA, language: English, abstract: Mutual Fund industry is one of the fastest growing industries in India, with so many investment options around giving an investor a wide range of choices to invest into. It offers a specialized service where the funds of the investors are professionally managed by the fund managers with various schemes offering all kinds of investors a product of their choice. This industry is in the growth phase and has a long way to go, but at present the bigger avenues from where the investments come have saturated like the large corporate companies. Factor Analysis affirmed that the investment pattern of Kolkata based Corporate and institutional investors in Mutual Funds depend on the six factors. They are Profitability Factor, Market Fluctuation Factor, Security Factor, Risk Orientation in Fund Decision, Awareness of Mutual Fund, and Performance of Mutual Funds. The survey also stated that the institutional investors are more interested in maintaining their portfolios for at least a month or more. The awareness of institutional investors regarding Mutual Funds is low which is indicated by the fact that still 48 percent of investors invest in Bank FDs which has a greater tax on income as compared to Mutual Fund returns. The survey clearly indicates that the institutional investors are majorly influenced by the agents and brokers when it comes on to decided which Mutual Fund to invest in.

Download or read book The Conditional Performance of Indian Mutual Funds written by Bijan Roy and published by . This book was released on 2004 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most important developments in the field of finance during last forty years is the mutual fund performance evaluation technique. The traditional techniques use the unconditional moments of the returns. Such techniques cannot capture the time-varying element of expected return. As a consequence Ferson and Schadt (96) advocate a technique called conditional performance evaluation, designed to address this problem. This paper utilizes that technique on a sample of 89 Indian mutual fund schemes, over the period of 1999:1 to 2003:7. The broad based Samp;P CNX 500 is used in the study as benchmark. The study uses the lagged information variables - T-bill yield, dividend yields, term structure yield spread and a dummy for April-effect. The paper measures the performance with both unconditional and conditional form of - CAPM, Treynor-Mazuy model and Henriksson-Merton model. We examine the effect of incorporating lagged information variables into the evaluation of mutual fund managers' performance in Indian context. The result suggests that the use of conditioning lagged information variables improves the performance of the mutual fund schemes, causing the alphas to shift towards the right and reducing the number of negative timing coefficients. Tech rally of 1999 to 2001 is a major event in the history of Indian capital market. We have also incorporated the impact of the tech rally in the conditional models by introducing a dummy variable indicating the period of rally in tech stocks. We found that fund managers' performance as well as timing skill worsens with the inclusion of this dummy.

Download or read book Mutual Funds in India written by Nalini Prava Tripathy and published by Excel Books India. This book was released on 2007 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This well organised, lucidly written textbook explains the basic concepts of mutual fund, operational policies, practices, investment in securities, some aspects of portfolio management, selection, mutual fund marketing, and detailed analysis of the latest developments in mutual fund industries. Apart from this, the book is well equipped with the fundamentals of research with details of statistical tools required for analysis in research work.This comprehensive book is intended as a text for students of management, research scholars, and is a useful reference for practising managers and investors as well as finance professionals who have an interest in this increasingly expanding area. It would also be immensely useful to those pursuing professional courses in marketing and finance area.Key Features:v Pedagogically rich to help students retain and apply chapter conceptsv Comprehensive coverage of Indian financial regulatory bodies and practicesv Discusses in detail about the current status of development and future prospects of mutual fund industry in Indiav Provides exercises to test the students grasp of the subjectv Cases in the Indian contextv Highlights latest trends with figures and tables

Download or read book Measuring Performance of Indian Mutual Funds written by Dr. Deepak Agrawal and published by . This book was released on 2011 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the development of the Indian Capital Market and deregulations of the economy in 1992 there have been structural changes in both primary and secondary markets. Mutual funds are key contributors to the globalization of financial markets and one of the main sources of capital flows to emerging economies. Despite their importance in emerging markets, little is known about their investment allocation and strategies. This article provides an overview of mutual fund activity in emerging markets. It describes about their size and asset allocation. This paper is a process to analyze the Indian Mutual Fund Industry pricing mechanism with empirical studies on its valuation. It also analyzes data at both the fund-manager and fund-investor levels. The study reveled that the performance is affected by the saving and investment habits of the people and the second side the confidence and loyalty of the fund Manager and rewards affects the performance of the MF industry in India.

Download or read book AN EMPIRICAL STUDY OF MUTUAL FUND PERFORMANCE written by and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Investment Performance of Mutual Funds written by Stanley J. Kon and published by . This book was released on 1977 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Handbook of Equity Style Management written by T. Daniel Coggin and published by John Wiley & Sons. This book was released on 2003-04-07 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fully updated guide to equity style management Pioneered by Nobel laureate William Sharpe, equity style management is derived from a correlation analysis of various equity style categories, such as value, growth, small cap, large cap and foreign stocks. In the Third Edition of The Handbook of Equity Style Management, twenty contributors from industry and academia help readers understand various equity style management issues, including equity style indices, different approaches to equity style measurement, foreign stock investing, tactical style management, behavioral aspects of equity style, and equity style benchmarks for manager selection and performance attribution. This updated edition gives readers the rationale behind equity style management, and shows how new strategies can be used to manage risk and improve returns.

Download or read book The Indian Mutual Fund Industry written by G. Sekhar and published by Springer. This book was released on 2014-08-29 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dr. Sekhar offers comprehensive knowledge on the mutual fund industry in India and provides ready-made practical information for investors. He presents an overview of investment patterns for both public and private sector mutual funds, and analyses the performance of selected schemes using various measures of risk.

Download or read book Management structure for the mutual fund industry Performance indicators and investment behavior of a team s decision making process written by Yunus Cagdas and published by GRIN Verlag. This book was released on 2022-01-31 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Academic Paper from the year 2021 in the subject Business economics - Investment and Finance, grade: 2,0, University of Hohenheim (Institut für Financial Management), language: English, abstract: The aim of this study is to identify differences in investment behavior - and in particular the special case of a team's decision-making process - as well as possible performance indicators. The research results to be presented should be used as guidance in selecting an appropriate management structure for the mutual fund industry. Before addressing the differing investment behaviors of the two management structures, the special dynamics that can operate within a team in decision making have to be examined. For this said purpose, the relevant literature provides some conflicting theories on decision making. When looking at the proportion of team-managed and single-managed mutual funds, it is observed that team funds have increased at the cost of single-managed funds. Thus, from 1992 to 2015, within all mutual funds, team-managed funds increased from 12% to 57%, while single-managed funds decreased from 88% to 43%. A similar development can be seen in the change of the management structure of a fund in Figure 1: A total of 553 mutual funds, which were previously managed individually, switched to a team fund, whereas only 317 funds changed from a team-managed fund to an single-managed fund. A crossover in the proportion of teams after the global financial crisis in 2008, in times when risk reduction by diversification began to gain in importance, is clearly observable. Thus, it should be in the interest of mutual funds to possess sufficient management diversity to reach an adequate niveau of diversification. As argued by Tom Stevenson, the investment director of Fidelity International, besides gender diversity, diversity in cognition, education and mindset represent a great strength. Research on the mutual fund industry indicates some differences in the investment behavior between team-managed and single-managed mutual funds. Especially concerning teams, different theories of decision making can be found, resulting in different investment styles and performance levels.

Download or read book An Empirical Study of Investors Behavior in Indian Mutual Fund Industry written by Dr Preeti Sharma and published by . This book was released on 2014 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mutual funds have emerged as an important segment of financial markets and so far have delivered value to the investors. No industry can flourish without a proper regulatory mechanism. These initiatives would help towards making the Indian mutual fund industry more vibrant and competitive. Since, the need of study has been aroused in order to see the factors influencing the retail investors to prefer investment regarding the mutual funds in Rajasthan, India. The study is based on the formulation of the following hypotheses: Hypothesis 1: Gender of the investor and risk orientation are two independent attributes of the investors. Hypothesis 2: Increase in age decreases the risk tolerance level. Correlation between age and risk tolerance. In order to study the factors influencing the retail investors to prefer investment in mutual funds in Rajasthan, chi square test, analysis of one-way variance. The present study looks at the small investors purchase behavior does not have a high level of coherence due to the influence of different purchase factors. If the study provokes the authority concerned to take some positive measures for expanding the scope of mutual funds investment.

Download or read book Indian Capital Market written by Shirin Rathore and published by . This book was released on 2003-01-01 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Indian Capital Market Has Witnessed Major Transformation And Structural Change During The Past One Decade As A Result Of On Going Economic Reforms Initiated By The Government Of India Since 1991. These Reforms Have Been Aimed At Improving Market Efficiency, Enhancing Transparency, Checking Unfair Trade Practices And Bringing The Indian Capital Market Up To International Standards. The Reforms Have Brought About Changes In Institutional Character Of The Market; Regulatory Environment In Which It Functions; Investors Profile And Technology Of The Market.This Volume Has Brought Together Empirical Researches Carried Out On Various Aspects Of The Indian Capital Market During The Past Decade. It Includes, Inter- Alia Research Studies Relating To " Ipos" Corporate Governance" E-Marketplaces For Financial Products" Market Efficiency And Anomalies " Market Micro Structure" Mutual Funds Performance" Financial DerivativesThe Papers Have Been Contributed By Well-Known Persons From Both Academia And Industry. The Book Will Be Useful Of Research Scholars, Students Pursuing Professional Courses Such As M.B.A., M.F.C., M.B.E., M.I.B. And Other Related Programmes, Practitioners And Policy Makers.

Download or read book Investment Horizon Risk Proxies and Mutual Fund Performance written by Cheng F. Lee and published by . This book was released on 1978 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Empirical Analysis of Mutual Funds Investing in German Equity 1995 2015 written by Carsten Fritz and published by . This book was released on 2016-10-28 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2016 in the subject Economics - Finance, grade: 1,3, University of Regensburg (Centre of Finance), language: English, abstract: Financial markets are as complex as ever due to an accelerating development in the last decades. Especially evaluations of mutual fund performance have been a subject of interest since the introduction of financial services. In this thesis, a study on the performance of mutual funds investing in German equity from July 1995 to June 2015 is conducted. The aim is to find out if fund managers have sufficient skill to generate risk adjusted return in order to cover the cost imposed on the investors. Another purpose is to provide investors with relevant results. Inter alia, Jensen one-factor, Fama and French three-factor and the Carhart four-factor model are used as different benchmark models for performance. Paired bootstrap simulations suggest that, net of cost, a small fraction of fund managers do have sufficient skill to cover cost. For the bottom ranked funds, there is statistical evidence that their poor performance is caused by bad management, rather than by bad luck. The results for gross returns show that there is an unneglectable fraction of fund managers with good performance not due to luck. Compared to net returns, there is stronger evidence of skill, negative as well as positive. Form an investor's point of view it seems rather beneficial to invest in passively managed vehicles. High costs eat into the return, and they are the main reason why the majority of actively managed funds end up with sub-par performance.

Download or read book Mutual Funds in India written by Rakesh Kumar and published by . This book was released on 2016-06-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The services of the asset management companies are getting important for the investors; for, assessing markets and investing funds are beyond the capacity of most individuals. Hence, the role of mutual fund firms in India has increased enormously in response to liberal policy regime in the recent decades. This book is an endeavor to study the various facets of the mutual fund industry to understand the complexities therein. The structure, organisation and competition in mutual fund industry in India have been discussed in depth. Performance of mutual fund schemes by using conditional and unconditional models has been evaluated and investor may derive enough inkling towards his future investment plans. After going through this book, the reader is expected to develop confidence while dealing with the instruments of mutual funds.