با سلام خدمت کاربران در صورتی که با خطای سیستم پرداخت بانکی مواجه شدید از طریق کارت به کارت (6037997535328901 بانک ملی ناصر خنجری ) مقاله خود را دریافت کنید (تا مشکل رفع گردد).
ردیف | عنوان | نوع |
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1 |
The role of active management and asset allocation policy on government and corporate bond fund returns
نقش سیاست مدیریت فعال و تخصیص دارایی در صندوق اوراق قرضه دولتی و شرکتی بازدهی می شود-2018 The role of asset allocation policy and active management on equity mutual fund returns has been a popular research topic, while there is
almost no literature on the subject covering bond funds. We check sources of performance for Israeli corporate and government bond funds,
which together account for above 70% of the Israeli mutual fund market, using a unique monthly database of approximately 10-years. Our
results reveal that active management is far more important than policy for corporate bond fund returns, which is mainly attributable to
managers security selection skills. The reverse is true for government bond funds and strategic long term policies account for a larger part of
excess market return variability. Furthermore, if we take into account management fees, government bond funds lose from active management.
The greater heterogeneity of investments open to corporate bond funds is a possible explanation for the difference in results.
Keywords: Active management; Bond funds; Corporate bonds; Policy; Security selection; Timing |
مقاله انگلیسی |
2 |
Pitfalls and Perils of Financial Innovation: The Use of CDS by Corporate Bond Funds
مشکلات و خطرات نوآوری مالی: استفاده از CDS توسط شرکت صندوق اوراق قرضه-2015 We use the financial crisis of 2007–2009 as a laboratory to examine the costs and
benefits of teams versus single managers in asset management. We find that when a
fund uses complex trading strategies involving the use of CDS team-managed funds
outperform solo-managed funds. This may be due to the greater diversity of
expertise, experience and skill of teams relative to single managers. During the
financial crisis, however, the performance premium of teams becomes negative,
which may be because of the slower decision times of teams, which are especially
costly during times of rapidly changing market conditions.
Key Words: Mutual funds, management teams, financial crisis, credit default swaps,
performance, market timing |
مقاله انگلیسی |