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| Author: | Liljeblom, E. Löflund, A. |
| Title: | Evaluating mutual funds on a small market: is benchmark selection crucial? |
| Journal: | Scandinavian Journal of Management
2000 : MAR, VOL. 16:1, p. 67-84 |
| Index terms: | Stock markets Performance appraisal Benchmarking |
| Freeterms: | Mutual funds |
| Language: | eng |
| Abstract: | This paper focuses on mutual funds performance analysis on a small market during a turbulent period. The question of proper measures and benchmarks is addressed. A potentially critical issue on a small market concerns large market weights for individual stocks. Also market timing is a concerned issue. In the paper different measures of performance are compared and benchmark sensitivity is analyzed (incl. e.g. FOX and HEX indices). The paper finds markedly similar ranking for different benchmarks, contrary to many other studies. There are also more results reported. |
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