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Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
The question of whether mutual fund performance depends on active management has been addressed by comparing the performance of 23 mutual funds investing in Swedish stocks to that of three models with no active fund management. The study covered the five-year period between 1995 and 2000. Model 1 followed the growth of funds which had the same stock profile, both qualitatively and quantitatively, as the reference funds in 1995, and held it unchanged during the whole test period. In model 2 the funds were comprised by the same stocks but at randomly chosen proportions which were then held constant during the test period. Model 3 extended model 2 in that stock proportions were readjusted annualy in a random way.
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IdentifiersURN: urn:nbn:se:su:diva-2048OAI: oai:DiVA.org:su-2048DiVA: diva2:190918