Evaluation of European Mutual funds Performance

Romana Bangash (1)

1 CERAG - Centre d'études et de recherches appliquées à la gestion

Our primary objective is to suggest some winning styles of investment for investors and proposing some good benchmarking techniques to managers. In other words, we can say that which stock picking skill of manager can better earn before-fee excess return? We applied Carhart's four factor model on 122 Equity Mutual funds domestically invested in France from 1990 to 2009. Our results indicate that measuring risk with use of the established pricing models is indeed problematic because it is suitable to some markets but not for all and more analytical and empirical work is needed to develop universally adapted risk factors.

Mots clés: management fee; Equity Mutual funds; four factors model; management fee.

Domaines: Gestion et management

Romana Bangash. Evaluation of European Mutual funds Performance. 2011. ⟨halshs-00658484⟩