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| Tekijä: | Carhart, M. M. |
| Otsikko: | On persistence in mutual fund performance. |
| Lehti: | Journal of Finance
1997 : MAR, VOL. 52:1, p. 57-82 |
| Asiasana: | UNIT TRUSTS INVESTMENT TRUSTS PORTFOLIO MANAGEMENT |
| Kieli: | eng |
| Tiivistelmä: | Using a sample free of survivor bias, the author demonstrates that common factors in stock returns and investment expenses almost completely explain persistence in equity mutual funds' mean and risk-adjusted returns. The only significant persistence not explained is concentrated in strong underperformance by the worst-return mutual fund portfolio managers. |
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