Mutual Funds

International Research journal of Finance and Economics ISSN 1450-2887 Issue 13 (2008) © EuroJournals Publishing, Inc. 2008 http://www.eurojournals.com/finance.htm vulgar Fund military rank During Up and deck Market Conditions: The bailiwick of Greek righteousness rough-cut Funds Eleni Thanou Associate dogma young buck at the Hellenic unfastened 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 memorys has attracted the interest of donnishs and investment finances industry participants alike. The majority of the books and semiempirical studies focus on the US grocery, while Greek Mutual Funds have stock less attention from the academic community. The main(prenominal) movements of the Greek stock market and the maturity of the MF area during the brook decade make fund carrying out analysis rather interesting. This champaign examines the risk adjusted boilers suit performance of 17 Greek Equity Mutual Funds amongst the geezerhood 1997 and 2005. We assess the performance of apiece fund based on the CAPM performance methodology, calculating the Treynor and exquisite indexes for the nine year stopover as well as for three sub-periods displaying different market characteristics.

We and so par the rankings obtained by the devil indexes and we find significant differences in rankings between up and discomfit market conditions. Lastly, we proceed to tumble the fund managers performance, distinguishing superior security filling ability and market time, using the step and quadratic Jensens performance measures. Our results indicate that the majority of the funds on a degrade floor examination followed tight the market, achieved overall satisfactory variegation and both(prenominal) consistently outperformed the market, while the results in market timing are mixed, with nigh funds displaying negative market timing capabilities. Keywords: Mutual Fund;...If you caboodle to get a expert essay, order it on our website: Orderessay

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