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CFR Working Papers, Centre for Financial Research (CFR), Universität Köln >
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http://hdl.handle.net/10419/65373
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| Title: | | The investment abilities of mutual fund buy-side analysts  |
| Authors: | | Cici, Gjergji Rosenfeld, Claire |
| Issue Date: | | 2012 |
| Series/Report no.: | | CFR Working Paper 12-07 |
| Abstract: | | We investigate the abilities of buy-side analysts by analyzing nontraditional mutual funds that are exclusively managed by in-house analysts rather than traditional portfolio managers. Analysts exhibit stronger general and job-specific investment abilities than traditional managers from within and outside the fund family. Using holdings of analystrun funds as a proxy for the analysts' best ideas, we document that more-skilled portfolio managers rely on analysts' ideas from the same family to a lesser extent than less-skilled managers. We find that analysts' abilities matter in that they are positively related to the future performance of other funds within the same family. |
| Subjects: | | Mutual Funds Buy-Side Analysts Performance Valuation |
| Document Type: | | Working Paper |
| Appears in Collections: | | CFR Working Papers, Centre for Financial Research (CFR), Universität Köln
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