search query: @indexterm DIVERSIFICATION / total: 686
reference: 186 / 686
| Author: | Khorana, A. Nelling, E. |
| Title: | The performance, risk, and diversification of sector funds |
| Journal: | Financial Analysts' Journal
1997 : MAY-JUN, VOL. 53:3, p. 62-74 |
| Index terms: | FINANCIAL ANALYSIS RISK DIVERSIFICATION |
| Language: | eng |
| Abstract: | Sector fund's self-imposed limits on diversification have both costs and benefits. Sector funds tend to perform as well as other equity funds, but their performance tends to be sensitive to the benchmark that is used. In addition, sector-fund managers do not exhibit any significant persistence in performance. Although sector funds tend to be moderately less diversified than other equity funds, they do not entail greater systematic risk. Sector funds exhibit larger total risk than the control sample, but they are not riskier than small-cap and aggressive-growth funds. |
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