The Performance Persistence of Closed-End Funds
Posted: 23 Feb 2001
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: Suggested Citation
Bers, Martina K. and Madura, Jeff, The Performance Persistence of Closed-End Funds. Available at SSRN: https://ssrn.com/abstract=237793
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