Active management, fund size, and bond mutual fund returns
Conventional wisdom holds that bonds are relatively homogenous investments compared to equities. Consequently, factors that explain variation in returns among bond mutual funds may differ in magnitude from those for equity mutual funds. In this study, a time‐series cross‐sectional analysis is employ...
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| Veröffentlicht in: | The Financial review (Buffalo, N.Y.) N.Y.), 1998-05, Vol.33 (2), p.115-125 |
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| container_title | The Financial review (Buffalo, N.Y.) |
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| creator | Philpot, James Hearth, Douglas Rimbey, James N. Schulman, Craig T. |
| description | Conventional wisdom holds that bonds are relatively homogenous investments compared to equities. Consequently, factors that explain variation in returns among bond mutual funds may differ in magnitude from those for equity mutual funds. In this study, a time‐series cross‐sectional analysis is employed to investigate the relationship between a bond fund's risk‐adjusted return and specific fund attributes. Results indicate that a bond fund's past performance does not predict future performance and that bond fund managers are generally ineffective at increasing risk‐adjusted returns. However, unlike equity mutual funds, bond mutual funds do appear to enjoy economies of scale. |
| doi_str_mv | 10.1111/j.1540-6288.1998.tb01372.x |
| format | Article |
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However, unlike equity mutual funds, bond mutual funds do appear to enjoy economies of scale.</description><subject>Bond funds</subject><subject>bond mutual funds</subject><subject>Bond portfolios</subject><subject>G2/G29</subject><subject>Mutual fund performance</subject><subject>Mutual funds</subject><subject>Portfolio performance</subject><subject>Securities analysis</subject><subject>Studies</subject><issn>0732-8516</issn><issn>1540-6288</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>1998</creationdate><recordtype>article</recordtype><sourceid>8G5</sourceid><sourceid>ABUWG</sourceid><sourceid>AFKRA</sourceid><sourceid>AZQEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><sourceid>GNUQQ</sourceid><sourceid>GUQSH</sourceid><sourceid>M2O</sourceid><recordid>eNqVkNFPgzAQxhujiXP6P5A9D7y2FNq9mGXZ5uLUxWh8bAoUAw6YLejmXy-EZe_ew90ld9_3JT-ERhg83NZt7mHmgxsQzj0sBPfqCDANibc_Q4PT6RwNIKTE5QwHl-jK2hwAMBb-AE2mcZ19a6dQpfrQhS7rsZM2ZeLY7FePHdVuUdW2oqkbte1PRteNKe01ukjV1uqb4xyit8X8dXbvrp-Xq9l07caUAnNVEMeBD2GYckV8JqJIiyTiLFJAOfYFqDjFwCGFIPJZnDAtIKaBnwhKQGFMh2jU--5M9dVoW8u8avPbSEmAY0EIdE-T_ik2lbVGp3JnskKZg8QgO1Qylx0P2fGQHSp5RCX3rfiuF_9kW334h1IuVi9zjFnr4PYOma31_uSgzKcMQhoy-f60lLCB5YbBg3ykf9AEfo0</recordid><startdate>199805</startdate><enddate>199805</enddate><creator>Philpot, James</creator><creator>Hearth, Douglas</creator><creator>Rimbey, James N.</creator><creator>Schulman, Craig T.</creator><general>Blackwell Publishing Ltd</general><scope>BSCLL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>3V.</scope><scope>7WY</scope><scope>7WZ</scope><scope>7X1</scope><scope>7XB</scope><scope>87Z</scope><scope>885</scope><scope>8A9</scope><scope>8FK</scope><scope>8FL</scope><scope>8G5</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>ANIOZ</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FRAZJ</scope><scope>FRNLG</scope><scope>F~G</scope><scope>GNUQQ</scope><scope>GUQSH</scope><scope>K60</scope><scope>K6~</scope><scope>L.-</scope><scope>M0C</scope><scope>M1F</scope><scope>M2O</scope><scope>MBDVC</scope><scope>PADUT</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>PRINS</scope><scope>PYYUZ</scope><scope>Q9U</scope></search><sort><creationdate>199805</creationdate><title>Active management, fund size, and bond mutual fund returns</title><author>Philpot, James ; 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| fulltext | fulltext |
| identifier | ISSN: 0732-8516 |
| ispartof | The Financial review (Buffalo, N.Y.), 1998-05, Vol.33 (2), p.115-125 |
| issn | 0732-8516 1540-6288 |
| language | eng |
| recordid | cdi_proquest_journals_208192201 |
| source | Wiley Online Library Journals Frontfile Complete; Business Source Complete |
| subjects | Bond funds bond mutual funds Bond portfolios G2/G29 Mutual fund performance Mutual funds Portfolio performance Securities analysis Studies |
| title | Active management, fund size, and bond mutual fund returns |
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