This study evaluates the performance of open-end securities investment funds investing in Chinese domestic equity during the period May 2002 to May 2014. A dataset of 419 funds is examined. High frequency weekly data are employed. This study implements a wide range of risk-adjusted performance...

Purpose: The purpose of this paper is to evaluate the performance of Chinese equity securities investment funds and to distinguish skill from luck in fund performance.Design/methodology/approach: This paper examines numerous risk-adjusted performance models in three classes: (i) unconditional...