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By evaluating the performance of 772 funds, this study seeks to examine whether fund managers add any value by their fund allocation decision. After selecting the securities for investment, fund managers need to decide as to how much to be invested in the selected securities. They can actively...
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-sold funds in India. We do not find any evidence that direct-sold funds underperform the broker-sold funds. Despite the superior … services provided by the brokers. We find that fund houses in India offer both direct and broker-sold funds to target different …
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