Abstract

Paper Title/ Authors Name Download View

CONDITIONAL MODELS IN PERFORMANCE EVALUATION OF MUTUAL FUNDS IN INDIA

Rakesh Kumar


This study evaluates the performance of Indian mutual fund industry by using conditional models (based on the semi - strong form of market efficiency model of Fama). The study reveals that Indian fund managers have strong stock picking ability. However, they are not capable to time the market and even public information could not help in this context. Besides, there is a tradeoff between the selectivity and market timing ability, that is he is unable show his prowess in both the categories simultaneously. In addition, fund returns are sensitive to market movements