The Relationship between Performance and Hoding Concentration of Mutual Fund

• Main Authors: Ho, Yen-Yun, 何顏雲
• Other Authors: Hsueh, Shun-Jen
• Format: Others
• Language: zh-TW
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/738n79

碩士 === 正修科技大學 === 金融管理研究所 === 104 === In order to enhance their performances, the mutual funds managers usually invest most of the funds on few potential stocks. Therefore, a large potion of these funds’ total net assets value is in these potential stocks, in other words the investment concentration of these funds is relatively high. The purpose of this study is to explore the relationship between holding concentration and performance of funds. This study has three empirical findings. First, the higher holding concentration, the better performance is for the bull market. Secondly, the higher funds’ turnover rate, the lower its holding concentration. Finally, the fund with higher total holding rate has higher holding concentration. The results imply that funds with higher holding concentration are more worthy to buy.