Performance of actively managed funds in various stages of business cycle
| Authors | |
|---|---|
| Year of publication | 2015 |
| Type | Article in Proceedings |
| Conference | European Financial Systems 2015 |
| MU Faculty or unit | |
| Citation | |
| web | http://is.muni.cz/do/econ/sborniky/2015/EFS_2015_proceedings.pdf |
| Field | Economy |
| Keywords | funds; indices; active investments; passive investments; benchmark |
| Attached files | |
| Description | Discussion between advocates of active and passive investments has been going on for at least three decades. Broadly speaking, evidence in favor of passive investments against active investment strategies has grown very strong during that period bringing active investments almost on the edge of obscure methods. The aim of this paper is to contribute to mentioned discussion by submitting an analysis of performance of actively managed funds in various stages of business cycle with given benchmarks within particular time periods and on particular markets. The analysis shall enlighten relation between outperformance or underperformance of actively managed funds in comparison with selected indices which can be treated as index products in the post-financial crisis realm. |
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