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- W3020956865 abstract "ABSTRACT We develop a performance evaluation approach in which a fund manager's skill is judged by the extent to which the manager's investment decisions resemble the decisions of managers with distinguished performance records. The proposed performance measures use historical returns and holdings of many funds to evaluate the performance of a single fund. Simulations demonstrate that our measures are particularly useful in ranking managers. In an application that relies on such ranking, our measures reveal strong predictability in the returns of U.S. equity funds. Our measures provide information about future fund returns that is not contained in the standard measures." @default.
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- W3020956865 date "2005-05-03" @default.
- W3020956865 modified "2023-10-02" @default.
- W3020956865 title "Judging Fund Managers by the Company They Keep" @default.
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- W3020956865 doi "https://doi.org/10.1111/j.1540-6261.2005.00756.x" @default.
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