Cesari, Riccardo; Panetta, Fabio - Banca d'Italia - 1998
Using a clustering procedure,we classify Italian funds ex-post on the basis of the composition of their portfolios and … closely match the 4-level aggregation of the 20 ex-ante categories used by the Italian mutual funds association. We then … estimate the risk-adjusted performance of Italian equity funds, using both net and gross returns and employing both one …