Kamil, Nazrol K.M.; Alhabshi, Syed O.; Bacha, Obiyathulla I. - In: Pacific-Basin Finance Journal 28 (2014) C, pp. 7-28
We made the first estimate of the proportion of fund alpha statistically attributable to luck rather than skill for a sample of Malaysian Islamic equity funds. Broadly, the funds do not outperform market benchmarks. In the limited instances where performance is superior, based on a contemporary...