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      Persistence in mutual fund returns: New Zealand evidence

      Hooper, Keith; Davey, Howard; Su, Roger; Foo, Dani
      DOI
       10.1108/10309610680000682
      Link
       www.emeraldinsight.com
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      Citation
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      Hooper , K., Davey, H., Su, R.& Foo, D. (2006). Persistence in mutual fund returns: New Zealand evidence. Accounting Research Journal, 19(2), 105-121.
      Permanent Research Commons link: https://hdl.handle.net/10289/1881
      Abstract
      Many studies have discussed mutual funds performance, especially about the persistence of excess returns. Regression is the most common method to be used to research the fund persistence. Dutta (2002) proposes a simpler approach – a direct annual examination of whether a fund beats a market proxy or not, to research the persistence in American mutual fund returns. In this study, authors use a similar methodology to analyse New Zealand growth mutual funds. In addition, a statistically robust method is juxtaposed as a comparison. The study finds that the most of the funds sampled during the period 1996-2003 are unable to better the benchmark of the world index.
      Date
      2006
      Type
      Journal Article
      Publisher
      Royal Melbourne Institute of Technology
      Collections
      • Management Papers [1098]
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