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Mutual Fund Performance and Performance Persistence

The Impact of Fund Flows and Manager Changes

  • Book
  • © 2011

Overview

Authors:
  1. Peter Lückoff
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Part of the book series: Geld - Banken - Börsen (GBB)

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Table of contents (9 chapters)

  1. Front Matter

    Pages i-xxiv
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  2. Introduction

    1. Introduction

      • Peter Lückoff
      Pages 1-10

  3. Delegated Portfolio Management

    1. Institutional Setting

      • Peter Lückoff
      Pages 11-75

    2. Agency Conflicts

      • Peter Lückoff
      Pages 77-133

  4. Investment Performance

    1. Performance Measurement

      • Peter Lückoff
      Pages 135-242

    2. Dynamic Aspects of Mutual Fund Performance

      • Peter Lückoff
      Pages 243-326

  5. Empirical Study

    1. Objectives, Data and Methodology

      • Peter Lückoff
      Pages 327-346

    2. Performance Persistence

      • Peter Lückoff
      Pages 347-408

    3. Fund Flows and Manager Changes as Equilibrium Mechanisms

      • Peter Lückoff
      Pages 409-475

    4. Time Effects, Extreme Flows and Capacity Constraints

      • Peter Lückoff
      Pages 477-507

  6. Back Matter

    Pages 509-588
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Keywords

About this book

Superior investment performance is the ultimate objective of mutual fund investors. However, past fund performance is no reliable indicator of future performance. Peter Lückoff investigates why fund flows and manager changes act as equilibrium mechanisms and drive the performance of both previously outperforming and previously underperforming funds back to average levels. These results have important implications for investors, investment management companies and even regulators.

Reviews

"Eine interessante Lektüre mit neuen Erkenntnissen sowohl für Akademiker als auch Investoren." Absolut report, 4-2012

About the author

Dr. Peter Lückoff was a research associate at the Center for Finance and Banking at the University of Giessen (Professor Wolfgang Bessler), a junior research fellow at the Pensions Institute of Cass Business School, London, and a visiting research fellow at Exeter University Business School.

Bibliographic Information

  • Book Title: Mutual Fund Performance and Performance Persistence

  • Book Subtitle: The Impact of Fund Flows and Manager Changes

  • Authors: Peter Lückoff

  • Series Title: Geld - Banken - Börsen

  • DOI: https://doi.org/10.1007/978-3-8349-6527-1

  • Publisher: Gabler Verlag Wiesbaden

  • eBook Packages: Business and Economics, Business and Management (R0)

  • Copyright Information: Gabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden 2011

  • Softcover ISBN: 978-3-8349-2780-4Published: 13 January 2011

  • eBook ISBN: 978-3-8349-6527-1Published: 22 January 2011

  • Edition Number: 1

  • Number of Pages: XXIV, 588

  • Number of Illustrations: 37 b/w illustrations

  • Topics: Business Taxation/Tax Law, Finance, general

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