Since 2014
Colombian mutual funds that invest in stocks: Do they create value?
Ecos de Economía: A Latin American Journal of Applied Economics
View Archive Info| Field | Value | |
| Title |
Colombian mutual funds that invest in stocks: Do they create value?
|
|
| Creator |
Monsalve, Juan David
Arango Toro, Nicolas |
|
| Subject |
Colombia; Jensen’s alpha; Market Timing; Mutual Funds; Portfolio Performance Evaluation.
G10; G11; G12 |
|
| Description |
In this research we evaluate the performance of 73 Colombian stock mutual funds from 2005 to 2015. To quantify the value added by these funds compared to their respective benchmarks, Jensen’s alpha is calculated using two regression methodologies: Ordinary Least Squares (OLS) and Quantile Regression. We also analyze whether these funds show any evidence of market timing. We recommend the creation of a private firm in Colombia that would provide investors with accurate information about the features and historical performance of Colombian mutual funds, as Morningstar Inc. does in the USA. This would enable investors to choose the best fund options andmake the mutural fund market more efficient and appealing to new potential investors.
|
|
| Publisher |
Universidad EAFIT
|
|
| Contributor |
—
|
|
| Date |
2016-06-22
|
|
| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
|
| Format |
application/pdf
text/html |
|
| Identifier |
http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/3559
10.17230/ecos.2016.42.5 |
|
| Source |
Ecos de Economía: A Latin American Journal of Applied Economics; Vol 20, No 42 (2016); 90-110
Ecos de Economía: A Latin American Journal of Applied Economics; Vol 20, No 42 (2016); 90-110 2462-8107 1657-4206 |
|
| Language |
eng
|
|
| Relation |
http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/3559/pdf
http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/3559/html |
|
| Rights |
Copyright (c) 2016 Juan David Monsalve, Nicolas Arango Toro
|
|