Performance Evaluation of Mutual Funds with Special Reference to Selected Schemes

Abstract

The study used sample of public net assets to investigate the differences in characteristics of assets held, portfolio diversification, and variable effects of diversification on investment performance for the period May, 2002 to May,2005 The study found that public sponsored funds in terms of mean returns%. However, there is a significant difference between public standard deviation, average variance and average coefficient of variation(COV). The study also found that there is a statistical difference between sponsorship classes in terms of e SDAR (excess standard deviation adjust measure of mutual fund portfolio diversification characteristic, there is a statistical difference between public- The model built on testing the impact of diversification on fund performance and found a statistical difference among sponsorship classes when residual variance is used as a measure of portfolio diversification and excess st however, has a direct impact on Sharpe fund performance measure.