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Aggregate Performance of Mutual Funds, 1948–1967

Published online by Cambridge University Press:  19 October 2009

Robert S. Carlson
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Extract

This paper applies a single measure of investment performance to mutual fund portfolios for the 20-year period 1948–1967. It criticizes the efficacy of market indices, at least for the purpose of evaluating aggregate results of managed portfolios; it tests the predictive value of past results in forecasting future performance; and finally, it identifies two factors that are positively related to fund performance during the time period studied.

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 5 , Issue 1 , March 1970 , pp. 1 - 32
Copyright
Copyright © School of Business Administration, University of Washington 1970

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References

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