Performance implications of active management of institutional mutual funds

We use information on institutional US mutual funds to examine the performance implications of the decisions they make when actively implementing their investment processes. Our findings show that the success of active fund managers' stock selection decisions is influenced both by the aggressiv...

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Bibliographic Details
Published inAccounting and finance (Parkville) Vol. 55; no. 1; pp. 1 - 27
Main Authors Bird, Ron, Pellizzari, Paolo, Yeung, Danny
Format Journal Article
LanguageEnglish
Published Clayton Blackwell Publishing Ltd 01.03.2015
Subjects
Active management
Aggressiveness
Decision making
Institutional mutual funds
Investment advisors
Investment policy
Mutual funds
Performance evaluation
Studies
United States > US
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Summary:We use information on institutional US mutual funds to examine the performance implications of the decisions they make when actively implementing their investment processes. Our findings show that the success of active fund managers' stock selection decisions is influenced both by the aggressiveness with which they implement their processes and also the style tilts incorporated into their active positions. Our findings provide useful insights into both where one might best look when choosing an active manager and also suggest possible profitable investment strategies.
Bibliography:ark:/67375/WNG-9STM0305-2
istex:88A5848D74CE20ADD9C0E4E527F49F3A32B40F66
ArticleID:ACFI12056
ISSN:0810-5391
1467-629X
DOI:10.1111/acfi.12056