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Title:Performance persistence of equity funds in Hungary PDF Logo
Authors:Filip, Dariusz
Issue Date:2011
Citation:[Journal:] Contemporary Economics [ISSN:] 1897-9254 [Volume:] 5 [Year:] 2011 [Issue:] 1 [Pages:] 18-34
Abstract:This study examines the phenomenon of performance persistence of equity funds in Hungary in two time perspectives: 1-year and 6-month perspectives. The empirical results confirm the occurrence of performance dependence in consecutive periods. There is also a strong evidence of short-term persistence in the total horizon of the study (from the beginning of 2000 to the end of 2009), and in several sub-periods. The 1-year persistence was also found in the tested sample and, in general, depended on the measure applied. Furthermore, I observed performance reversal, which can be partly explained by trend changes in the financial markets. The persistence of equity funds performance in Hungary is shaped by market factors rather than the diversity of managerial characteristics.
Subjects:performance persistence
mutual funds
trends on Hungarian financial markets
JEL:G11
G23
G29
Persistent Identifier of the first edition:doi:10.5709/ce.1897-9254.2
Document Type:Article
Appears in Collections:Contemporary Economics, Volume 5 -

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