How to cite this paper
Roy, S. (2015). Conditional selectivity performance of Indian mutual fund schemes: An empirical study.Management Science Letters , 5(6), 577-590.
Refrences
Arditti, F. D. (1971). Another look at mutual fund performance. Journal of Financial and Quantitative Analysis, 6(03), 909-912.
Artikis, G. (2004). Bond mutual fund managers’ performance in Greece. Journal of Managerial Finance, 30(10), 1-6.
Athanassakos, G., Carayannopoulos, P., & Racine, M. (2002). How effective is Aggressive Portfolio Management. Canadian Investment Review, 15(3), 39-44.
Chander, R. (2005). Empirical Investigation on the Investment Managers’ Stock Selection Abilities: The Indian Experience. The ICFAI Journal of Applied Finance, 11(7), 5-20.
Coggin, T. D., Fabozzi, F. J., & Rahman, S. (1993). The investment performance of US equity pension fund managers: An empirical investigation. The Journal of Finance, 48(3), 1039-1055.
Chang, E. C., & Lewellen, W. G. (1984). Market timing and mutual fund investment performance. Journal of Business, 57(1), 57-72.
Christopherson, J. A., Ferson, W. E., & Glassman, D. A. (1998). Conditioning manager alphas on economic information: Another look at the persistence of performance. Review of Financial Studies, 11(1), 111-142.
Christopherson, J. A., Ferson, W. E., & Turner, A. L. (1999). Performance evaluation using conditional alphas and betas. The Journal of Portfolio Management, 26(1), 59-72.
Chen, Z., & Knez, P. J. (1996). Portfolio performance measurement: Theory and applications. Review of Financial Studies, 9(2), 511-555.
Dybvig, P. H., & Ross, S. A. (1985). Differential information and performance measurement using a security market line. The Journal of finance, 40(2), 383-399.
Drew, M. E., Veeraraghavan, M., & Wilson, V. (2005). Market timing, selectivity and alpha generation: evidence from Australian equity superannuation funds. Investment Management and Financial Innovations,2(2), 111-127.
Fama, E. F. (1972). Components of investment performance. The Journal of finance, 27(3), 551-568.
Ferson, W. E., & Schadt, R. W. (1996). Measuring fund strategy and performance in changing economic conditions. The Journal of Finance, 51(2), 425-461.
Fama, E. F., & French, K. R. (1989). Business conditions and expected returns on stocks and bonds. Journal of financial economics, 25(1), 23-49.
Fransworth, H. (1997). Conditional performance Evaluation. In paxson, D., Wood, D. (eds), Blackwell Encyclopedic Dictionary of Finance, Blackwell Business, 23-24.
Ferson, W. E., & Warther, V. A. (1996). Evaluating fund performance in a dynamic market. Financial Analysts Journal, 52(6), 20-28.
Ferson, W., & Qian, M. (2004). Conditional performance evaluation, revisited, Working Paper, Boston College-EUA.
Grinblatt, M., & Titman, S. (1989). Portfolio performance evaluation: Old issues and new insights. Review of Financial Studies, 2(3), 393-421.
Grant, D. (1977). Portfolio performance and the “cost” of timing decisions. The Journal of Finance, 32(3), 837-846.
Gordon, M.J., & Gangoli, R. (1962). Choice among and scale of play on lottery type alternatives. College of Business Administration, University of Rochester, pp. 1-25.
Graham, J. R., & Harvey, C. R. (1996). Market timing ability and volatility implied in investment newsletters & apos; asset allocation recommendations. Journal of Financial Economics, 42(3), 397-421.
Hicks, J. R. (1962). Liquidity. The Economic Journal, 72(288), 787-802.
Henriksson, R. D., & Merton, R. C. (1981). On market timing and investment performance. II. Statistical procedures for evaluating forecasting skills. Journal of business, 44, 513-533.
Ilmanen, A. (1995). Time?Varying Expected Returns in International Bond Markets. The Journal of Finance, 50(2), 481-506.
Iqbal., & Quader. (2012). Survivorship-biased free mutual funds in Pakistan. American Journal of Scientific Research, 62, 127-134.
Jensen, M. C. (1968). The performance of mutual funds in the period 1945-1964.The Journal of Finance, 23, 389-416.
Jensen, M. (1972). Optimal utilization of market forecasts and the evaluation of investment performance. In Szego, G; Shell, K. (eds), Mathematical methods in Investment and Finance, North-Holland, 310-335.
Kader, M., & Kuang, Y. (2007). Risk-adjusted performance, selectivity, timing ability and performance persistence of Hong Kong mutual funds. Journal of Asia-Pacific Business, 8(2), 25-28.
Kon, S. J., & Jen, F. C. (1979). The investment performance of mutual funds: An empirical investigation of timing, selectivity, and market efficiency. Journal of Business, 52, 263-289.
Kosowski, R., Timmermann, A., Wermers, R., & White, H. (2006). Can mutual fund “stars” really pick stocks? New evidence from a bootstrap analysis. The Journal of finance, 61(6), 2551-2595.
Koulis, A., Beneki, C., Adam, M., & Botsaris, C. (2011). An Assessment of the Performance of Greek Mutual Equity Funds Selectivity and Market Timing. Applied Mathematical Sciences, 5(4), 159-171.
Lintner, J. (1965). Security Prices, Risk, and Maximal Gains from Diversification*. The Journal of Finance, 20(4), 587-615.
Lee, C. F., & Rahman, S. (1990). Market timing, selectivity, and mutual fund performance: An empirical investigation. Journal of Business, 63, 261-278.
Mossin, J. (1966). Equilibrium in a capital asset market. Econometrica: Journal of the econometric society, 34, 768-783.
Markowitz, H. M. (1952). Portfolio selection. Journal of Finance, 12, 77-91.
Mansor, F., & Bhatti, M. I. (2011, February). The Islamic mutual fund performance: New evidence on market timing and stock selectivity. In 2011 International Conference on Economics and Finance Research IPEDR (Vol. 4).
Otten, R., & Bams, D. (2004). How to measure mutual fund performance: economic versus statistical relevance. Accounting & finance, 44(2), 203-222.
Pesaran, M. H., & Timmermann, A. (1995). Predictability of stock returns: Robustness and economic significance. The Journal of Finance, 50(4), 1201-1228.
Redman, A. L., Gullett, N. S., & Manakyan, H. (2000). The performance of global and international mutual funds. Journal of Financial and strategic Decisions, 13(1), 75-85.
Roy, S., & Ghosh, S. K. (2012). Selectivity as a measure of mutual fund performance: A comparative study of the open-ended income and growth schemes. Global Journal of Finance and Economic Management, 1(1), 69-86.
Sharpe, W. F. (1963). A simplified model for portfolio analysis. Management science, 9(2), 277-293.
Sharpe, W. F. (1966). Mutual fund performance. Journal of Business, 39, 119-138.
Silva, F., Cortez, M. D. C., & Armada, M. R. (2003). Conditioning information and European bond fund performance. European Financial Management, 9(2), 201-230.
Sondhi, H. J., & Jain, P. K. (2006). Can Growth Stocks be identified for Investment? A Study of Equity Selectivity Abilities of Fund Managers in India. The ICFAI Journal of Applied Finance, 12(2), 6-17.
Sipra, N. (2002). Mutual fund performance in Pakistan 1995-2004.www.ssrn.com, pp. 6-45.
Shanmughan., & Zabiulla. (2011). Stock selection strategies of equity mutual fund managers in India. Middle Eastern Finance and Economics, 11, 19-27.
Treynor, J. L. (1965). How to rate management of investment funds. Harvard business review, 43(1), 63-75.
Treynor, J. L., & Mazuy, J. (1966). Can mutual fund outguess the market. Harvard Business Review, 43(1), 63-75.
Tobin, J. (1958). Liquidity preference as behavior towards risk. The review of economic studies, 25(2), 65-86.
Artikis, G. (2004). Bond mutual fund managers’ performance in Greece. Journal of Managerial Finance, 30(10), 1-6.
Athanassakos, G., Carayannopoulos, P., & Racine, M. (2002). How effective is Aggressive Portfolio Management. Canadian Investment Review, 15(3), 39-44.
Chander, R. (2005). Empirical Investigation on the Investment Managers’ Stock Selection Abilities: The Indian Experience. The ICFAI Journal of Applied Finance, 11(7), 5-20.
Coggin, T. D., Fabozzi, F. J., & Rahman, S. (1993). The investment performance of US equity pension fund managers: An empirical investigation. The Journal of Finance, 48(3), 1039-1055.
Chang, E. C., & Lewellen, W. G. (1984). Market timing and mutual fund investment performance. Journal of Business, 57(1), 57-72.
Christopherson, J. A., Ferson, W. E., & Glassman, D. A. (1998). Conditioning manager alphas on economic information: Another look at the persistence of performance. Review of Financial Studies, 11(1), 111-142.
Christopherson, J. A., Ferson, W. E., & Turner, A. L. (1999). Performance evaluation using conditional alphas and betas. The Journal of Portfolio Management, 26(1), 59-72.
Chen, Z., & Knez, P. J. (1996). Portfolio performance measurement: Theory and applications. Review of Financial Studies, 9(2), 511-555.
Dybvig, P. H., & Ross, S. A. (1985). Differential information and performance measurement using a security market line. The Journal of finance, 40(2), 383-399.
Drew, M. E., Veeraraghavan, M., & Wilson, V. (2005). Market timing, selectivity and alpha generation: evidence from Australian equity superannuation funds. Investment Management and Financial Innovations,2(2), 111-127.
Fama, E. F. (1972). Components of investment performance. The Journal of finance, 27(3), 551-568.
Ferson, W. E., & Schadt, R. W. (1996). Measuring fund strategy and performance in changing economic conditions. The Journal of Finance, 51(2), 425-461.
Fama, E. F., & French, K. R. (1989). Business conditions and expected returns on stocks and bonds. Journal of financial economics, 25(1), 23-49.
Fransworth, H. (1997). Conditional performance Evaluation. In paxson, D., Wood, D. (eds), Blackwell Encyclopedic Dictionary of Finance, Blackwell Business, 23-24.
Ferson, W. E., & Warther, V. A. (1996). Evaluating fund performance in a dynamic market. Financial Analysts Journal, 52(6), 20-28.
Ferson, W., & Qian, M. (2004). Conditional performance evaluation, revisited, Working Paper, Boston College-EUA.
Grinblatt, M., & Titman, S. (1989). Portfolio performance evaluation: Old issues and new insights. Review of Financial Studies, 2(3), 393-421.
Grant, D. (1977). Portfolio performance and the “cost” of timing decisions. The Journal of Finance, 32(3), 837-846.
Gordon, M.J., & Gangoli, R. (1962). Choice among and scale of play on lottery type alternatives. College of Business Administration, University of Rochester, pp. 1-25.
Graham, J. R., & Harvey, C. R. (1996). Market timing ability and volatility implied in investment newsletters & apos; asset allocation recommendations. Journal of Financial Economics, 42(3), 397-421.
Hicks, J. R. (1962). Liquidity. The Economic Journal, 72(288), 787-802.
Henriksson, R. D., & Merton, R. C. (1981). On market timing and investment performance. II. Statistical procedures for evaluating forecasting skills. Journal of business, 44, 513-533.
Ilmanen, A. (1995). Time?Varying Expected Returns in International Bond Markets. The Journal of Finance, 50(2), 481-506.
Iqbal., & Quader. (2012). Survivorship-biased free mutual funds in Pakistan. American Journal of Scientific Research, 62, 127-134.
Jensen, M. C. (1968). The performance of mutual funds in the period 1945-1964.The Journal of Finance, 23, 389-416.
Jensen, M. (1972). Optimal utilization of market forecasts and the evaluation of investment performance. In Szego, G; Shell, K. (eds), Mathematical methods in Investment and Finance, North-Holland, 310-335.
Kader, M., & Kuang, Y. (2007). Risk-adjusted performance, selectivity, timing ability and performance persistence of Hong Kong mutual funds. Journal of Asia-Pacific Business, 8(2), 25-28.
Kon, S. J., & Jen, F. C. (1979). The investment performance of mutual funds: An empirical investigation of timing, selectivity, and market efficiency. Journal of Business, 52, 263-289.
Kosowski, R., Timmermann, A., Wermers, R., & White, H. (2006). Can mutual fund “stars” really pick stocks? New evidence from a bootstrap analysis. The Journal of finance, 61(6), 2551-2595.
Koulis, A., Beneki, C., Adam, M., & Botsaris, C. (2011). An Assessment of the Performance of Greek Mutual Equity Funds Selectivity and Market Timing. Applied Mathematical Sciences, 5(4), 159-171.
Lintner, J. (1965). Security Prices, Risk, and Maximal Gains from Diversification*. The Journal of Finance, 20(4), 587-615.
Lee, C. F., & Rahman, S. (1990). Market timing, selectivity, and mutual fund performance: An empirical investigation. Journal of Business, 63, 261-278.
Mossin, J. (1966). Equilibrium in a capital asset market. Econometrica: Journal of the econometric society, 34, 768-783.
Markowitz, H. M. (1952). Portfolio selection. Journal of Finance, 12, 77-91.
Mansor, F., & Bhatti, M. I. (2011, February). The Islamic mutual fund performance: New evidence on market timing and stock selectivity. In 2011 International Conference on Economics and Finance Research IPEDR (Vol. 4).
Otten, R., & Bams, D. (2004). How to measure mutual fund performance: economic versus statistical relevance. Accounting & finance, 44(2), 203-222.
Pesaran, M. H., & Timmermann, A. (1995). Predictability of stock returns: Robustness and economic significance. The Journal of Finance, 50(4), 1201-1228.
Redman, A. L., Gullett, N. S., & Manakyan, H. (2000). The performance of global and international mutual funds. Journal of Financial and strategic Decisions, 13(1), 75-85.
Roy, S., & Ghosh, S. K. (2012). Selectivity as a measure of mutual fund performance: A comparative study of the open-ended income and growth schemes. Global Journal of Finance and Economic Management, 1(1), 69-86.
Sharpe, W. F. (1963). A simplified model for portfolio analysis. Management science, 9(2), 277-293.
Sharpe, W. F. (1966). Mutual fund performance. Journal of Business, 39, 119-138.
Silva, F., Cortez, M. D. C., & Armada, M. R. (2003). Conditioning information and European bond fund performance. European Financial Management, 9(2), 201-230.
Sondhi, H. J., & Jain, P. K. (2006). Can Growth Stocks be identified for Investment? A Study of Equity Selectivity Abilities of Fund Managers in India. The ICFAI Journal of Applied Finance, 12(2), 6-17.
Sipra, N. (2002). Mutual fund performance in Pakistan 1995-2004.www.ssrn.com, pp. 6-45.
Shanmughan., & Zabiulla. (2011). Stock selection strategies of equity mutual fund managers in India. Middle Eastern Finance and Economics, 11, 19-27.
Treynor, J. L. (1965). How to rate management of investment funds. Harvard business review, 43(1), 63-75.
Treynor, J. L., & Mazuy, J. (1966). Can mutual fund outguess the market. Harvard Business Review, 43(1), 63-75.
Tobin, J. (1958). Liquidity preference as behavior towards risk. The review of economic studies, 25(2), 65-86.