Mutual Fund Characteristics, Managerial Attributes and Fund Performance

Posted: 7 Sep 2008

See all articles by William J. Bertin

William J. Bertin

Bond University - Faculty of Business, Technology and Sustainable Development

Thomas Henker

Bond University

Laurie Prather

Bond University - Faculty of Business, Technology and Sustainable Development

Date Written: 2004

Abstract

This study provides a comprehensive examination of recent mutual fund performance by analyzing a large set of both mutual funds and fund attributes in an effort to link performance to fund-specific characteristics. The sample of funds used in this regression analysis is free of survivorship bias, and the study addresses benchmark issues as well. The results indicate that the hypothesized relationship between performance and the explanatory variables are generally upheld. After taking into consideration general market conditions and fund investment objective, the characteristic variables that relate to fund popularity, growth, cost and management also explain performance. Finally, after controlling for survivorship and benchmark error, the results refute the performance persistence phenomenon.

Keywords: mutual funds, fund characteristics, mutual fund performance

JEL Classification: G20, G23

Suggested Citation

Bertin, William J. and Henker, Thomas and Prather, Laurie, Mutual Fund Characteristics, Managerial Attributes and Fund Performance (2004). Review of Financial Economics, Vol. 13, 2004. Available at SSRN: https://ssrn.com/abstract=1263686

William J. Bertin

Bond University - Faculty of Business, Technology and Sustainable Development ( email )

Gold Coast, QLD 4229
Australia

Thomas Henker

Bond University ( email )

Gold Coast, QLD 4229
Australia
+61 7 5595-1561 (Phone)

Laurie Prather (Contact Author)

Bond University - Faculty of Business, Technology and Sustainable Development ( email )

Gold Coast, QLD 4229
Australia

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