This paper examines the use of private information by mutual funds with unconditional and conditional performance models. Using daily data for 35 countries over the 1990-2015 period, we find evidence that the use of conditioning information provides a more accurate estimation of fund...

The mutual fund industry in Europe has experienced significant growth during recent years as a consequence of the integration of its markets. However, the European mutual fund industry is still an unexplored area of research with only a few significant articles compared to the US industry. In...

This paper analyses the market efficiency persistence of the mutual fund industry around the world. With a large database of domestic equity funds across 35 countries, our study employs multifactor models and non-parametric methodology to examine fund efficiency across countries and its...

This paper examines the relationship between seasonality, idiosyncratic risk and mutual fund returns using multifactor models. We use a large sample containing the return histories of 728 UK mutual funds over a 23-year period to measure fund performance. We present evidence that idiosyncratic...

In this article, we contribute to the discussion in the financial literature about performance persistence by examining the issue of persistence in short-term mutual fund performance in the Scandinavian countries between 1990 and 2020. We use a unique sample of equity funds investing locally...

The dynamism of the mutual fund industry induces frequent changes in categories. Theoretically, these changes occur after the modification of the investment policy. Nevertheless, in this paper we empirically show that mutual funds can leave a category by reasons more related to fund performance....

The objective of this work is to examine the synchronization capacity in volatility of equity mutual funds around the world relative to market risk. This consists in the reduction of systematic risk at times of greater volatility, in order to reduce the portfolio risk and improve its efficiency....