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- Title
A Comparative Analysis of the Performance of MNC Mutual Funds in India.
- Authors
Singh, Gurmeet; Padmakumari, Lakshmi
- Abstract
The mutual fund industry in India has proliferated due to factors such as infrastructure development, increased participation of foreign investors, etc. It has become one of the fastestgrowing sectors in the financial market of India. With growth comes competition, and with increasing competition, there are a greater number of funds operating in the market. Typically, an investor is suggested a combination of funds to choose from, and with the limited information, he tries to create a well-diversified portfolio. This creates a challenge for the investor to select a fund that does well in an emerging market like India, which has a volatile financial market, frequent transition in business or economic cycle, and a financial or global crisis affecting the stock market every ten years. The main objective of the study is to evaluate MNC mutual funds' performance, stock selection and market timing skill by using Sharpe ratio, Treynor ratio, information ratio, M2 model, Sortino ratio and Treynor Mazuy model. The data for the study are taken from Bloomberg. The study evaluates MNC mutual funds' performance based on their daily NAV for the period 2010 to 2019. The findings suggest that MNC funds perform better than the market and other theme-based mutual funds in India for most of the time frame. Our findings have significant relevance for stock market participants.
- Subjects
INDIA; MUTUAL funds; MARKET timing; BLOOMBERG LP; BUSINESS cycles; STOCK exchanges; GLOBAL Financial Crisis, 2008-2009; STOCK funds; FINANCIAL markets; FINANCIAL crises
- Publication
South Asian Journal of Management, 2020, Vol 27, Issue 4, p147
- ISSN
0971-5428
- Publication type
Article