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Evaluating investment fund performance in Portugal

2019-04-16Journal article Restricted access
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dc.contributor.authorAmaral, Fátima
dc.contributor.authorReis, Pedro
dc.contributor.authorPinto, Pedro
dc.date.accessioned2019-06-18T09:05:19Z
dc.date.available2019-06-18T09:05:19Z
dc.date.issued2019-04-16
dc.description.abstractThe investment fund market has not only attracted increasing interest from investors seeking alternative investments but has also become increasingly important among professionals and academics. Within this framework, this study seeks to contribute to the research developed through identifying the inducers of investment fund performance in Portugal. The sample consists of 78 funds, covering the timeframe from 2006 to 2016, incorporating stock funds, bond funds, mixed funds and treasury funds analysed in accordance with the panel data methodology. This work finds variables such as risk, rotation, size, age, interest rates, commissions and benchmarks as highly significant determinants of mutual fund performance and when followed by mutual fund managers, may enhance their returns. The originality and value of the work stands on completing certain gaps and deepen knowledge about the Portuguese market, carrying out additional research on the funds marketed in Portugal, focusing on a more diversified asset market, expanding both the number of funds under study and the sampling period while seeking to identify the most relevant factors for performance and how they condition it. The main limitation of this study stems from the difficulties of collecting information due to limitations imposed by current data protection legislation, which restricted both the scope and the depth of analysis. When choosing the Portuguese context, we face constraints in comparison with studies made in more developed contexts where this theme has been studied for a longer period of time.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationAmaral, Fatima; Reis, Pedro; Pinto, Pedro, 2019. "Evaluating investment fund performance in Portugal", Business and Economic Horizons, Vol.15, Issue2, pp.187-204.pt_PT
dc.identifier.doiDOI: http://dx.doi.org/10.15208/beh.2019.11pt_PT
dc.identifier.issn1804-5006
dc.identifier.urihttp://hdl.handle.net/10400.19/5546
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherBusiness and Economic Horizonspt_PT
dc.relation.publisherversionhttps://academicpublishingplatforms.com/article.php?journal=BEH&number=36&article=2632pt_PT
dc.subjectInvestment fundspt_PT
dc.subjectFinancial Marketspt_PT
dc.subjectInductorspt_PT
dc.subjectPerformancept_PT
dc.titleEvaluating investment fund performance in Portugalpt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.endPage204pt_PT
oaire.citation.issue4pt_PT
oaire.citation.startPage187pt_PT
oaire.citation.titleBusiness and Economic Horizonspt_PT
oaire.citation.volume15pt_PT
person.familyNameReis
person.familyNameMelo Pinto
person.givenNamePedro
person.givenNamePedro
person.identifier.ciencia-idB71F-60A3-3FB5
person.identifier.ciencia-id9011-BFDC-7EDC
person.identifier.orcid0000-0003-1301-6645
person.identifier.orcid0000-0001-8257-0143
person.identifier.ridN-9211-2018
person.identifier.scopus-author-id56747454000
rcaap.rightsclosedAccesspt_PT
rcaap.typearticlept_PT
relation.isAuthorOfPublication84bd8fcc-7ce1-49f7-9669-9ccf9b9ce2f0
relation.isAuthorOfPublicationc6a6bfcb-57ac-4e09-a415-9834c938a2ab
relation.isAuthorOfPublication.latestForDiscovery84bd8fcc-7ce1-49f7-9669-9ccf9b9ce2f0

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