Journal of Finance Vol. 47 No. 5 1992

The Persistence of Mutual Fund Performance

Mark Grinblatt^1,2; Sheridan Titman^1,2

¹ New York Times · ² University of Hong Kong

Abstract

This paper analyzes how mutual fund performance relates to past performance. These tests are based on a multiple portfolio benchmark that was formed on the basis of securities characteristics. We find evidence that differences in performance between funds persist over time and that this persistence is consistent with the ability of fund managers to earn abnormal returns.

DOI

10.1111/j.1540-6261.1992.tb04692.x

Volume

47

Issue

5

Pages

1977-1984

Language

en

Sources

crossref openalex

Cite

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