Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5089468 | Journal of Banking & Finance | 2013 | 18 Pages |
Abstract
⺠Mutual fund's performance should be measured relative to its self-designated benchmark. ⺠Deviations should be interpreted as efforts to improve relative performance. ⺠Alphas and betas are by construction different from those obtained through standard approaches. ⺠Ignoring the self-designated benchmarks puts some types of funds at a disadvantage vis a vis their peers. ⺠Funds that simply track the sensitivities of their benchmark to systematic risks may be misclassified.
Related Topics
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Economics, Econometrics and Finance
Economics and Econometrics
Authors
Timotheos Angelidis, Daniel Giamouridis, Nikolaos Tessaromatis,