This paper analyzes persistence in US equity mutual fund performance over the period 2001-2011 for both net and gross … approach, which assesses the performance of investing by following recommendations based on past performance. Results show the …-sectional significance of recursive portfolios. In general, our results do not support evidence of persistence in mutual fund performance …

This paper analyses the relationship between active management and performance in US equity mutual funds over the … period 2001-2011 for both gross and net returns. Mutual funds achieve nonzero abnormal performance through strategies that …-varying parameters, idiosyncratic risk and turnover. The results show a negative aggregate performance close to zero. Performance is …

performance, little has been agreed about the value added by managers from their abilities point of view. This study attempts to …-m and order-) to assess performance in the first stage, and regression quantiles for isolating the determinants of … features. In addition, some of the performance differences found among funds are rather intricate because both the magnitude of …