Mutual Fund Rating Evaluation: Introducing the Q-ratio, an alternative approach
Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
In Sweden, mutual fund rating is a fairly new concept. Since the introduction of the new Swedish pension funds' system, the demand for fund rating literally exploded. After a thorough scrutiny between portfolio theory and rating methods, we found that an alternative approach was needed. By introducing the so-called Q-ratio we claim to have taken one step in filling this gap between financial theory and rating methods. We have used the Q-ratio to calculate and compare risk-adjusted returns for different funds on the Swedish market. We have found that some funds managers can out-perform the market, but that theyt do not fully recognise the unique properties of their benchmarks.
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IdentifiersURN: urn:nbn:se:su:diva-2986OAI: oai:DiVA.org:su-2986DiVA: diva2:192135