Using an event time approach, we find that mutual funds outperform during the 6- month period after inception. This result is not driven by incubation bias; rather new fund outperformance concentrates among funds with access to initial public offerings (IPOs), especially to more underpriced...

This paper attempts to investigate if adopting accurate forecasts from Neural Network (NN) models can lead to statistical and economically significant benefits in portfolio management decisions. In order to achieve that, three NNs, namely the Multi-Layer Perceptron (MLP), Recurrent Neural...