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| Content Provider | Springer Nature Link |
|---|---|
| Author | Chan, Yue Cheong Cheng, Louis T.W. |
| Copyright Year | 2003 |
| Abstract | This paper evaluates the ability of US-based Asian mutual fund managers in coping with the 1997 Asian financial crisis. We find that the actively managed mutual funds under-perform with respect to the market portfolio by 1.71% in average monthly return. Such poor performance is caused by fund managers' relative weakness in country selection as well as in stock picking. Fund managers are also found to be more skillful in picking the correct market when the market is going up than going down. Our results are consistent with the literature that asset allocation in Asian mutual funds is a dominating factor relative to selectivity in explaining fund returns during the financial crisis. In addition, there exists a negative relation between asset allocation ability and selectivity of fund managers. |
| Starting Page | 233 |
| Ending Page | 250 |
| Page Count | 18 |
| File Format | |
| ISSN | 0924865X |
| Journal | Review of Quantitative Finance and Accounting |
| Volume Number | 21 |
| Issue Number | 3 |
| e-ISSN | 15737179 |
| Language | English |
| Publisher | Kluwer Academic Publishers |
| Publisher Date | 2003-01-01 |
| Publisher Place | Boston |
| Access Restriction | One Nation One Subscription (ONOS) |
| Subject Keyword | Econometrics Accounting/Auditing Finance /Banking Operation Research/Decision Theory |
| Content Type | Text |
| Resource Type | Article |
| Subject | Finance Accounting |
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