Skip navigation
Skip navigation

Active opportunity and fund performance

Von Reibnitz, Anna


The active funds industry is large and growing. However empirical evidence suggests that the average active fund produces negative risk-adjusted performance after expenses. This is commonly taken as evidence that active fund managers lack the skills to justify the fees they charge. Existing studies look at performance over a sample period as a whole, without conditioning on the active opportunity set faced by fund managers. Yet active opportunity is not constant and has a major influence on the...[Show more]

CollectionsOpen Access Theses
Date published: 2013
Type: Thesis (PhD)
DOI: 10.25911/5d515147eb820
Access Rights: Open Access


File Description SizeFormat Image
b3482912x-Von Reibnitz_A.pdf322.1 MBAdobe PDFThumbnail

Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.

Updated:  19 May 2020/ Responsible Officer:  University Librarian/ Page Contact:  Library Systems & Web Coordinator