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Performance Evaluation of Indian Mutual Funds Book PDF Summary
In this paper the performance evaluation of Indian mutual funds in a bear market is carried out through relative performance index, risk-return analysis, Treynor's ratio, Sharp's ratio, Sharp's measure, Jensen's measure, and Fama's measure. The data used is monthly closing NAVs. The source of data is website of Association of Mutual Funds in India (AMFI). Study period is September 98-April 02 (bear period). We started with a sample of 269 open ended schemes (out of total schemes of 433) for computing relative performance index. Then after excluding the funds whose returns are less than risk-free returns, 58 schemes were used for further analysis. Mean monthly (logarithmic) return and risk of the sample mutual fund schemes during the period were 0.59% and 7.10%, respectively, compared to similar statistics of 0.14% and 8.57% for market portfolio. The results of performance measures suggest that most of the mutual fund schemes in the sample of 58 were able to satisfy investor's expectations by giving excess returns over expected returns based on both premium for systematic risk and total risk.
Detail Book of Performance Evaluation of Indian Mutual Funds PDF
- Author : Narayan Rao Sapar
- Release : 21 September 2024
- Publisher : Unknown
- ISBN : OCLC:1290391031
- Genre : Uncategoriezed
- Total Page : 24 pages
- Language : English
- PDF File Size : 14,6 Mb
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