以IPO为重点的共同基金的业绩和多元化收益

IF 1.5 3区经济学 Q3 BUSINESS, FINANCE

Journal of Financial Research Pub Date : 2023-03-22 DOI:10.1111/jfir.12323

Manel Kammoun, Habiba Mrissa Bouden

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引用次数: 0

摘要

我们调查了投资首次公开募股(IPO)的共同基金是否优于文艺复兴IPO指数、IPOX®100美国指数和其他不投资IPO的可比股票基金。我们还探讨了投资者是否通过投资以ipo为重点的共同基金获得多元化收益。我们以活跃的开放式美国股票共同基金为样本，发现以IPO为重点的基金的表现优于文艺复兴IPO指数(Renaissance IPO Index)和不投资IPO的同类基金。此外，它们为投资者提供了多样化的好处以及更好的回报。我们还发现了基于IPO策略的主动管理所增加的价值。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

Performance and diversification benefits of IPO-focused mutual funds

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Performance and diversification benefits of IPO-focused mutual funds

We investigate whether mutual funds that invest in initial public offerings (IPOs) outperform the Renaissance IPO Index, IPOX® 100 U.S. Index, and other comparable equity funds that do not invest in IPOs. We also explore whether investors gain diversification benefits by investing in IPO-focused mutual funds. Using a sample of active open-ended US equity mutual funds, we find that IPO-focused funds outperform the Renaissance IPO Index and comparable funds that do not invest in IPOs. Moreover, they provide investors with the benefit of diversification along with better returns. We also find the value added by active management based on IPO strategy.

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来源期刊

Journal of Financial Research BUSINESS, FINANCE-

CiteScore

1.70

自引率

0.00%

发文量

期刊介绍： The Journal of Financial Research(JFR) is a quarterly academic journal sponsored by the Southern Finance Association (SFA) and the Southwestern Finance Association (SWFA). It has been continuously published since 1978 and focuses on the publication of original scholarly research in various areas of finance such as investment and portfolio management, capital markets and institutions, corporate finance, corporate governance, and capital investment. The JFR, also known as the Journal of Financial Research, provides a platform for researchers to contribute to the advancement of knowledge in the field of finance.