Fund Managers Adding Values? Measuring Performance without Benchmark – A Study of Indian Mutual Fund Schemes
This paper calculates the Portfolio Change Measure (PCM) developed by Grinblatt and Titman for a sample of 744 equity schemes of Indian mutual funds over a minimum period of more than 2 years and less than 11 years. PCM, based on holding of assets, is a measure which is free from ‘benchmark’ biases...
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| Format: | Article |
| Language: | English |
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Tuwhera Open Access Publisher
2020-11-01
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| Series: | Applied Finance Letters |
| Online Access: | https://ojs.aut.ac.nz/applied-finance-letters/article/view/250 |