Feng, Xunan; Zhou, Mingshan; Chan, Kam C. - In: The North American Journal of Economics and Finance 30 (2014) C, pp. 154-170
We examine investors’ mutual fund selection ability in China. Using actively managed equity mutual funds between 2005 and 2011, we find that Chinese investors generally have no mutual fund selection ability, a result contrary to the smart money effect in the United States. We show that mutual...