Portfolio turnover activity and mutual fund performance

Purpose The purpose of this paper is to propose a new measure of portfolio activity, the modified turnover (MT), which represents the portion of the portfolio that the manager changes from one quarter to the next. Compared with the traditional turnover, the MT measure has a distinct interpretation,...

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Veröffentlicht in:	Managerial finance 2018-01, Vol.44 (3), p.326-356
Hauptverfasser:	Champagne, Claudia, Karoui, Aymen, Patel, Saurin
Format:	Artikel
Sprache:	eng
Schlagworte:	Equity funds Financial performance Investment policy Mutual funds Portfolio management Portfolio performance Scandals Stock prices
Online-Zugang:	Volltext
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