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| Author | : Dr. Deepak Agrawal |
| Publisher | : |
| Total Pages | : 17 |
| Release | : 2011 |
| Genre | : |
| ISBN | : |
Download Measuring Performance of Indian Mutual Funds Book in PDF, ePub and Kindle
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.
| Author | : Narayan Rao Sapar |
| Publisher | : |
| Total Pages | : 24 |
| Release | : 2003 |
| Genre | : |
| ISBN | : |
Download Performance Evaluation of Indian Mutual Funds Book in PDF, ePub and Kindle
In this paper the performance evaluation of Indian mutual funds in a bear market is carried out through relative performance index, risk-return analysis, Treynor's ratio, Sharp's ratio, Sharp's measure, Jensen's measure, and Fama's measure. The data used is monthly closing NAVs. The source of data is website of Association of Mutual Funds in India (AMFI). Study period is September 98-April 02 (bear period). We started with a sample of 269 open ended schemes (out of total schemes of 433) for computing relative performance index. Then after excluding the funds whose returns are less than risk-free returns, 58 schemes were used for further analysis. Mean monthly (logarithmic) return and risk of the sample mutual fund schemes during the period were 0.59% and 7.10%, respectively, compared to similar statistics of 0.14% and 8.57% for market portfolio. The results of performance measures suggest that most of the mutual fund schemes in the sample of 58 were able to satisfy investor's expectations by giving excess returns over expected returns based on both premium for systematic risk and total risk.
| Author | : Kaushik Bhattacharjee |
| Publisher | : |
| Total Pages | : 10 |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
Download Fund Performance Measurement Without Benchmark - A Case of Select Indian Mutual Funds Book in PDF, ePub and Kindle
This paper calculates the Performance Change measure (PCM) developed by Grinblatt amp; Titman (Journal of Business, 1993, vol. 66, no. 1)for a sample of 50 Indian mutual funds over a period of 26 months. PCM as a measure has some advantages compared to the traditional measures, the most important one being - it is free from using a benchmark portfolio and consequently the resulting biases arising out of usage of such a portfolio. So by using PCM as a measure, this paper, without using any benchmark, attempts to asses whether the selected mutual funds are able to provide above-normal return on average - using no more information than what is available to the common investor. PCM has been calculated for one month, one quarter, and one year lag. And using PCM as a measure the study finds that though in the short term, the mutual funds were unable to generate above-normal return but on the average the combined PCM of all the mutual funds is significantly different from zero, which are in agreement with the original findings of Grinblatt amp; Titman, in this Indian context.
| Author | : G. Sekhar |
| Publisher | : Springer |
| Total Pages | : 201 |
| Release | : 2014-08-29 |
| Genre | : Business & Economics |
| ISBN | : 1137407999 |
Download The Indian Mutual Fund Industry Book in PDF, ePub and Kindle
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.
| Author | : Anu Sahi |
| Publisher | : |
| Total Pages | : 16 |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
Download Value at Risk Methodology for Measuring Performance of Mutual Funds Book in PDF, ePub and Kindle
Mutual fund performance is an unending area of interest both for academicians as well as fund managers for the simple reason as it is a product meant for retail investor. A set of performance measures like Sharpe ratio, Jensen's Alpha are widely used measures. But in today's volatile market environment investor's mind is inundated with one major question i.e. what is maximum downside risk, if investment is made in mutual funds. Performance measures that consider both upward and downwards volatility might not be very useful for investors. Rather performance measures that consider risk by taking into account only losses, such as Value-at-Risk (VaR), is more appropriate technique to evaluate the performance. In the present study, standard VaR (Value at Risk) has been used to analyze the performance of public and private sector mutual funds. The present study uses Historical simulation, Normal VaR and Modified VaR techniques for calculating value at risk.
| Author | : Dr. Subrata Roy |
| Publisher | : RED'SHINE Publication. Pvt. Ltd |
| Total Pages | : 235 |
| Release | : |
| Genre | : Antiques & Collectibles |
| ISBN | : 9395456353 |
Download INDIAN MUTUAL FUNDS & PERFORMANCE MEASURES Book in PDF, ePub and Kindle
| Author | : Nalini Prava Tripathy |
| Publisher | : Excel Books India |
| Total Pages | : 284 |
| Release | : 2007 |
| Genre | : Investments |
| ISBN | : 9788174465351 |
Download Mutual Funds in India Book in PDF, ePub and Kindle
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
| Author | : Varun Dawar |
| Publisher | : |
| Total Pages | : |
| Release | : 2018 |
| Genre | : Mutual funds |
| ISBN | : 9781526441775 |
Download Measuring Mutual Fund Performance Book in PDF, ePub and Kindle
In early January 2015, in his home office in Mumbai, India, Sandeep Gupta, pondered if the investment strategy he had used for the previous ten years was the optimal strategy and whether he should modify it. That is, since 2005 Sandeep had been allocating his investible money saved out of his annual salary through systematic investment plans to four open-ended mutual funds, namely HDFC Top 200 Fund, Franklin India Bluechip Fund, SBI Magnum Equity Fund, and Reliance Growth Fund. After almost a decade of investing through mutual funds, Sandeep wondered whether his investment strategy had worked and whether these funds have outperformed relative to the benchmark indices. Sandeep knew that evaluating fund performance solely on the basis of average returns would not be meaningful as absolute returns needed to be adjusted for risk undertaken before they can be compared. With this quantitative analysis in mind, Sandeep decided to focus on the proposed computation of various fund performance measures such as the Sharpe ratio, Treynor ratio, Jensen's alpha, information ratio, M-square measure, and Sortino ratio. The case puts the students in a financial analyst role and illustrates the relevance and computation of various risk-adjusted measures of fund/portfolio performance for investors' rational decision-making over a period of time.
| Author | : Praneetha Byreeka |
| Publisher | : LAP Lambert Academic Publishing |
| Total Pages | : 68 |
| Release | : 2012-03-01 |
| Genre | : |
| ISBN | : 9783848424184 |
Download Investors Perception and Performance Measurement of Mutual Funds Book in PDF, ePub and Kindle
This book discusses on mutual fund industry in detail, the impact of various scrips on the performance of the mutual funds. The book also discusses on some of the tools and concepts to measure performance of mutual funds such as average daily return and risk in stock market to compare with the market indicator, Jenson's ratio, Treynor's ratio, Sharpe's ratio, and Fama's model. In the final stage we also discuss about the Investment priorities of different Investors and evaluate on how investors view mutual funds. Also focuses on the investment procedure of mutual funds, investor's preference regarding mutual funds, and motivational factors of mutual fund investors.
| Author | : Sharad Panwar |
| Publisher | : |
| Total Pages | : 19 |
| Release | : 2006 |
| Genre | : |
| ISBN | : |
Download Characteristics and Performance Evaluation of Selected Mutual Funds in India Book in PDF, ePub and Kindle
The study used sample of public-sector sponsored amp; private-sector sponsored mutual funds of varied net assets to investigate the differences in characteristics of assets held, portfolio diversification, and variable effects of diversification on investment performance for the period May, 2002 to May, 2005. The study found that public-sector sponsored funds do not differ significantly from private-sector sponsored funds in terms of mean returns%. However, there is a significant difference between public-sector sponsored mutual funds and private-sector sponsored mutual funds in terms of average standard deviation, average variance and average coefficient of variation (COV). The study also found that there is a statistical difference between sponsorship classes in terms of e SDAR (excess standard deviation adjusted returns) as a performance measure. When residual variance (RV) is used as the measure of mutual fund portfolio diversification characteristic, there is a statistical difference between public-sector sponsored mutual funds and private-sector sponsored mutual funds for the study period. The model built on testing the impact of diversification on fund performance and found a statistical difference among sponsorship classes when residual variance is used as a measure of portfolio diversification and excess standard deviation adjusted returns as a performance measure. RV, however, has a direct impact on Sharpe fund performance measure.
