Security Concentration and Active Fund Management: Do Focused Funds Offer Superior Performance?

We examine gross fund returns based on the number of securities held and find no evidence that focused funds outperform diversified funds. After deducting expenses, focused funds significantly underperform. Controlling for various fund characteristics, fund performance is positively related to the f...

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Veröffentlicht in:	The Financial review (Buffalo, N.Y.) N.Y.), 2008-02, Vol.43 (1), p.27-49
Hauptverfasser:	Sapp, Travis, Yan, Xuemin (Sterling)
Format:	Artikel
Sprache:	eng
Schlagworte:	best ideas Financial performance focused fund Funds G11 G20 mutual fund performance Portfolio management Rates of return security concentration Studies
Online-Zugang:	Volltext
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