Short-term persistence in mutual equity funds: A relative comparison between four Swedish banks
Sammanfattning: This thesis examines the short-term performance persistence of the four largest banks in Sweden from 1994 to 2005. We calculate returns using averages of all equity funds in each bank. Then we evaluate their short-term performance persistence using the median return as benchmark on a monthly basis. The results show that there is no significant short-term performance persistence. Findings using annual returns confirm the non-existence of the short-term performance persistence phenomenon as well. Our study also shows that banks with no significant persistence beat the market on a risk adjusted basis.
HÄR KAN DU HÄMTA UPPSATSEN I FULLTEXT. (följ länken till nästa sida)