Publication details

Performance of actively managed funds in various stages of business cycle

Authors

DRÁB Tomáš

Year of publication 2015
Type Article in Proceedings
Conference European Financial Systems 2015
MU Faculty or unit

Faculty of Economics and Administration

Citation
Web http://is.muni.cz/do/econ/sborniky/2015/EFS_2015_proceedings.pdf
Field Economy
Keywords funds; indices; active investments; passive investments; benchmark
Attached files
Description Discussion between advocates of active and passive investments has been going on for at least three decades. Broadly speaking, evidence in favor of passive investments against active investment strategies has grown very strong during that period bringing active investments almost on the edge of obscure methods. The aim of this paper is to contribute to mentioned discussion by submitting an analysis of performance of actively managed funds in various stages of business cycle with given benchmarks within particular time periods and on particular markets. The analysis shall enlighten relation between outperformance or underperformance of actively managed funds in comparison with selected indices which can be treated as index products in the post-financial crisis realm.
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