The Conditional Performance Of Indian Mutual Funds PDF Download
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Author | : Bijan Roy |
Publisher | : |
Total Pages | : 24 |
Release | : 2004 |
Genre | : |
ISBN | : |
Download The Conditional Performance of Indian Mutual Funds Book in PDF, ePub and Kindle
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.
Author | : Rakesh Kumar |
Publisher | : Partridge Publishing |
Total Pages | : 178 |
Release | : 2016-07-07 |
Genre | : Business & Economics |
ISBN | : 148287508X |
Download Mutual Funds in India Book in PDF, ePub and Kindle
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 endeavour to study the various facets of the mutual fund industry to understand the complexities therein. The structure, organisation, and competition in the 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 investors may derive enough inkling towards their future investment plans. After going through this book, the reader is expected to develop confidence while dealing with the instruments of mutual funds.
Author | : G. Sekhar |
Publisher | : Springer |
Total Pages | : 295 |
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 | : 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 | : 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 | : 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 | : Saurav Sau |
Publisher | : Saurav Sau |
Total Pages | : 46 |
Release | : |
Genre | : Business & Economics |
ISBN | : 935578290X |
Download Everything About Mutual Fund Book in PDF, ePub and Kindle
BEST FOR BEGINNERS Investment is very important for wealth creation and making our future brighter. Our parents teach us from childhood, how to save money and when we use our saving money. We not only save money for wellness and happiness, we also save money to do big in the future or for investment purposes. In this book, we will discuss all about mutual funds. How to invest or save money in a mutual fund? Your savings one part you can invest in mutual funds because mutual fund provides more flexibility and returns than the normal bank saving, fixed deposit, or RD schemes. If you invest good mutual funds scheme then you can expect good returns average of 18% to 22% annually.
Author | : Abhishek Chouhan |
Publisher | : Abhishek chouhan |
Total Pages | : 73 |
Release | : |
Genre | : Business & Economics |
ISBN | : |
Download Indian Mutual Funds - Basics for Beginners Book in PDF, ePub and Kindle
Indian Mutual Funds - Basics for Beginners This book covers basic concepts of Mutual funds in Indian context. This book aims to provide the knowledge about concept behind mutual funds with attractive illustrations. It has below chapters. 1. Mutual Fund Basics 2. Types of Mutual Funds 3. NFO & Offer Documents 4. Net Asset Value & the Accounting and Taxation of Mutual Funds 5. Risk, Return and Performance of Funds 6. Mutual Fund Structure and Constituents 7. Must Know Concepts and Terms 8. Facilities and Services - Investors
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 | : Lakshmi Natarajan |
Publisher | : LAP Lambert Academic Publishing |
Total Pages | : 180 |
Release | : 2011-07 |
Genre | : |
ISBN | : 9783844383812 |
Download Performance of Indian Mutual Fund Industry Book in PDF, ePub and Kindle
Mutual funds serve those individuals inclining to invest but lack the technical investment expertise. However, potential investors are perplexed while choosing the right scheme at the time of investment. This concise and compact text has identified mutual funds as less risky compared to equity shares. This book brings to light the panorama of Mutual fund industry in the world and in India. The book also discusses in detail the method of evaluating growth schemes, opinion of fund managers, brokers and investors. It would be best suited to fund managers to identify the determinants of success for mutual funds; attitude of investors towards mutual funds, factors contributing towards satisfaction of unit holders. It would be of great guide to students intending to carryout research relating to mutual funds. It would be an asset to the potential investors to know the criteria's for choosing mutual fund organization and schemes. This book will highlight the policy makers the need to take steps to increase the attractiveness of mutual funds among investors.