Measuring the selectivity and market timing performance of Islamic mutual funds in the KSA

Measuring the selectivity and market timing performance of Islamic mutual funds in the KSA

This paper examines the selectivity and market timing abilities of Islamic fund managers in the Kingdom of Saudi Arabia (KSA), since the empirical research has yet to explore the profitability and investment risk factors involved. We use a uniquely large set of data for 134 Islamic funds fo...

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Main Authors: Hasnaoui, Habib, Fatnassi, Ibrahim
Format: Article
Language:English
Published: Growing Science 2021-01-01
Series:Accounting
Online Access:http://www.growingscience.com/ac/Vol7/ac_2021_58.pdf
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spelling doaj-a2a86a4c10cf4656bbaba14ee74962672021-03-17T11:01:23ZengGrowing ScienceAccounting2369-73932369-74072021-01-011067107210.5267/j.ac.2021.3.002Measuring the selectivity and market timing performance of Islamic mutual funds in the KSAHasnaoui, HabibFatnassi, Ibrahim This paper examines the selectivity and market timing abilities of Islamic fund managers in the Kingdom of Saudi Arabia (KSA), since the empirical research has yet to explore the profitability and investment risk factors involved. We use a uniquely large set of data for 134 Islamic funds for a period from June 2002 to December 2019, and this was free from any survival bias. We found that Islamic fund managers in the KSA demonstrated good selectivity skills but no market timing ability. We also found that Islamic fund managers in the KSA tend to select companies with aggressive investment patterns despite their low profitability.http://www.growingscience.com/ac/Vol7/ac_2021_58.pdf
collection DOAJ
language English
format Article
sources DOAJ
author Hasnaoui, Habib
Fatnassi, Ibrahim
spellingShingle Hasnaoui, Habib
Fatnassi, Ibrahim
Measuring the selectivity and market timing performance of Islamic mutual funds in the KSA
Accounting
author_facet Hasnaoui, Habib
Fatnassi, Ibrahim
author_sort Hasnaoui, Habib
title Measuring the selectivity and market timing performance of Islamic mutual funds in the KSA
title_short Measuring the selectivity and market timing performance of Islamic mutual funds in the KSA
title_full Measuring the selectivity and market timing performance of Islamic mutual funds in the KSA
title_fullStr Measuring the selectivity and market timing performance of Islamic mutual funds in the KSA
title_full_unstemmed Measuring the selectivity and market timing performance of Islamic mutual funds in the KSA
title_sort measuring the selectivity and market timing performance of islamic mutual funds in the ksa
publisher Growing Science
series Accounting
issn 2369-7393
2369-7407
publishDate 2021-01-01
description This paper examines the selectivity and market timing abilities of Islamic fund managers in the Kingdom of Saudi Arabia (KSA), since the empirical research has yet to explore the profitability and investment risk factors involved. We use a uniquely large set of data for 134 Islamic funds for a period from June 2002 to December 2019, and this was free from any survival bias. We found that Islamic fund managers in the KSA demonstrated good selectivity skills but no market timing ability. We also found that Islamic fund managers in the KSA tend to select companies with aggressive investment patterns despite their low profitability.
url http://www.growingscience.com/ac/Vol7/ac_2021_58.pdf
work_keys_str_mv AT hasnaouihabib measuringtheselectivityandmarkettimingperformanceofislamicmutualfundsintheksa
AT fatnassiibrahim measuringtheselectivityandmarkettimingperformanceofislamicmutualfundsintheksa
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