Does active management add or destroy value? With a sample of 699 with four different main categories: stocks, fixed income, hedge and exchange rate mutual funds we conclude that the active management add value to investors ...

Herd behavior (i.e. correlated movement of investors), among mutual fund investors can force fund managers to sell or buy assets even when with bad timing, like selling on historical lows or buying at market tops, what ...

The Mutual Fund Theorem is an elegant way of describing how investors with different attitudes towards risk should construct their portfolios. It is, however, often misinterpreted. This paper revisits the topic by defining ...

This paper infers the impact the publication Guia Exame (the guide) has on the Brazilian fund industry, more specifically on the ability the concerned funds develop on attracting new investment. The impact is measured using ...

This paper infers the impact the publication “Guia Exame” (the guide) has on the Brazilian fund industry, more specifically on the ability the concerned funds develop on attracting new investment. The impact is measured ...

From a financial perspective, this dissertation analyzes the Brazilian mutual fund industry performance for an average retail client. The most representative funds for the local population, that are the fixed income open-end ...

Este trabalho estuda o impacto causado no fluxo de investimento em fundos multimercado por variáveis como o retorno dos fundos, o retorno do benchmark, a volatilidade de mercado, o fluxo de investimento de estrangeiros na ...