Performance Evaluation Of Indian Mutual Funds PDF Download
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| 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 | : Soumya Guha Deb |
| Publisher | : LAP Lambert Academic Publishing |
| Total Pages | : 332 |
| Release | : 2011-03 |
| Genre | : |
| ISBN | : 9783844321111 |
Download Performance Evaluation of Indian Equity Funds Book in PDF, ePub and Kindle
The mutual funds in India have registered significant growth and emerged as important financial intermediaries during the past decade or so, manifested by increased mobilization of funds and the increasing number of schemes and investors. To fulfill the expectations of millions of unit holders, the mutual funds are required to function as successful institutional investors. Evaluating performance of mutual fund managers vis-a-vis such a goal, is important for both the investors as well as the fund managers. Fund managers in India, periodically publish various performance reports using standard measures, which may not actually reflect the true investment performance of the funds. The present study evaluated the performance of the equity mutual funds in India during the period from 2000 to 2006, using a new framework.A number of new performance indicators are used for the purpose, and it is hoped that this attempt should highlight the efficiency and true competence of fund managers and augment the existing framework for identifying successful fund managers. It should benefit the investors, regulators, fund managers and other participants in the mutual fund industry in gene
| Author | : Na Chen |
| Publisher | : |
| Total Pages | : 78 |
| Release | : 2009 |
| Genre | : Mutual funds |
| ISBN | : |
Download Performance Evaluation of Indian Growth Mutual Funds Relative to the Market Book in PDF, ePub and Kindle
| Author | : Muruganandan S |
| Publisher | : |
| Total Pages | : 16 |
| Release | : 2016 |
| Genre | : |
| ISBN | : |
Download Performance Evaluation of Indian Fund of Mutual Funds Book in PDF, ePub and Kindle
This paper examines the performance of Indian Fund of Mutual Funds (FoFs) during the period from April 2008 to March 2011. The performance of each FoFs during the study period is assessed by employing the performance measures of average excess return, Sharpe ratio and Jensen's alpha. Sharpe ratio and Jensen alpha indicate that most of the selected funds give higher return than the market index for the given level of risk. Hence, it is concluded that the selected funds outperformed the benchmark index i.e. BSE 500 index during the study period.
| Author | : Ganapatrao Yashwant Shitole |
| Publisher | : |
| Total Pages | : 346 |
| Release | : 2012 |
| Genre | : Mutual funds |
| ISBN | : 9788184353068 |
Download Performance Evaluation of Mutual Funds in India Book in PDF, ePub and Kindle
| Author | : Mamta |
| Publisher | : |
| Total Pages | : 8 |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
Download Performance Evaluation of Mutual Funds Book in PDF, ePub and Kindle
Mutual Fund is professionally managed trust that pools the money of various investors and further invests them, into different securities like shares, bonds and short term securities like certificate of deposit, commercial paper etc. and commodities like precious metals. In India the origin of Mutual Funds industry can be traced, since the enactment of UTI (Unit Trust of India) Act, 1963. The mutual funds industry grew successfully and brought about substantial returns to the investors and the public sector. Mutual funds provide opportunities for small investors, to participate in the capital market without assuming a very high degree of risk. An important principle of investment in capital market is that do not put all the eggs in one basket i.e. diversification. A small investor is not able to have a diversified portfolio mainly due to paucity of resources. However, a mutual fund pools together the savings of such small investors and invests the same in the capital market and passes the benefits to the investors. Thus, investors can indirectly participate in the capital market by subscribing to the units of mutual funds. Mutual funds employ professional fund managers to manage the investment activities. Therefore, investors also get benefits of professional expertise of these managers. Daily opening & closing NAV of different schemes have been used to calculate the returns from the fund schemes. BSES ensex has been used for market portfolio. The main aim of this paper is, to evaluate the performance of Indian equity diversified mutual funds. A subsidiary aim is to analyze the relationship between risk and return of these funds, based on total risk and systematic risk. The analysis was achieved, by assessing various financial tests like Average Return, Sharpe Ratio, Treynor Ratio, Standard Deviation, Beta and Coefficient of Determination (R2). The data has been taken from various websites of mutual fund schemes and from amfiindia.com. The analysis depicts that, majority of funds selected for study have outperformed, under Sharpe Ratio as well as Treynor Ratio.
| 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.
| Author | : Joan Lamm-Tennant |
| Publisher | : |
| Total Pages | : 264 |
| Release | : 1995 |
| Genre | : Business & Economics |
| ISBN | : |
Download Mutual Funds Book in PDF, ePub and Kindle
| Author | : Dr B Ratnavalli |
| Publisher | : Archers & Elevators Publishing House |
| Total Pages | : |
| Release | : |
| Genre | : Antiques & Collectibles |
| ISBN | : 9388805917 |
Download A Study On Performance Evaluation Of Select Mutual Funds In India Book in PDF, ePub and Kindle
| Author | : Manju Punia Chopra |
| Publisher | : LAP Lambert Academic Publishing |
| Total Pages | : 88 |
| Release | : 2012-03-01 |
| Genre | : |
| ISBN | : 9783847347828 |
Download Persistence & Survivorship Bias in Mutual Funds: An Indian Experience Book in PDF, ePub and Kindle
This study utilizes few selected performance evaluation techniques on a sample of 36 Indian mutual fund schemes, over the period of January 2001 to September 2009. The broad based S&P CNX NIFTY is used in the study as a benchmark. The results concluded that these 36 mutual fund managers were on average not able to predict security prices well enough to outperform a buy-the-market-and-hold policy. There was very little evidence of any individual fund being able to do significantly better than which was expected from random chance. On the other hand, no evidence of curvature of the characteristic lines, indicating superior timing skill, is found for any of the funds. In addition, the study offers little evidence of persistence in either the stock selection ability or the timing ability of the fund managers. Mutual fund attrition can create problems for a researcher because funds disappear due to presumably poor performance resulting into bias in research outcome. In this study we also revisit the mutual fund performance, including the disappeared mutual fund schemes during sample period. By tracking disappeared funds, the study does not find any evidence of survivorship bias.
