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Mutual Funds Performance Persistence : A Study of Equity Diversified Mutual Funds
(Punjab Agricultural University, 2011) harpreet Kaur; Gupta, Mohit
Performance persistence has been observed in the mutual fund markets of several developed and developing countries. This study entitled, “Mutual funds Performance Persistence : A Study of Equity Diversified Mutual Funds.” aimed to empirically study the performance persistence of equity diversified funds in Indian context. In order to achieve the objectives, quarterly returns of 116 equity diversified funds, grouped as portfolios, were compared on quarter to quarter basis. Ranks were assigned on the basis of return and rank correlation was evaluated between two quarters. In total 17 comparisons were made on quarter to quarter basis and out of these 10 comparisons depicted high performance persistence, in form of high positive rank correlation. In contrast very less performance persistence has been found using investor style as a control measure