The Performance Persistence of Closed-End Funds

Posted: 23 Feb 2001

See all articles by Martina K. Bers

Martina K. Bers

University of South Florida - College of Business

Jeff Madura

Florida Atlantic University - College of Business

Abstract

The purpose of this study is to extend the research on mutual fund performance persistence to net asset value and market price performance of domestic closed-end funds. While research has assessed the performance persistence of open-end mutual funds, it has not assessed the performance persistence of closed-end funds. Yet, the unique characteristics of closed-end funds allow stronger arguments for their persistence than the arguments previously submitted for open-end mutual funds. The results show evidence for risk-adjusted performance persistence.

JEL Classification: G12, G14

Suggested Citation

Bers, Martina K. and Madura, Jeff, The Performance Persistence of Closed-End Funds. Available at SSRN: https://ssrn.com/abstract=237793

Martina K. Bers (Contact Author)

University of South Florida - College of Business ( email )

St. Petersburg, FL 33705
United States

Jeff Madura

Florida Atlantic University - College of Business ( email )

University Tower
220 SE 2 Avenue
Fort Lauderdale, FL 33301
United States
(954)762-5632 (Phone)
(954)762-5245 (Fax)

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