{"title":"医疗保健共同基金的业绩和持续业绩","authors":"Abhay Kaushik, Lynn K. Saubert, R. W. Saubert","doi":"10.61190/fsr.v23i1.3187","DOIUrl":null,"url":null,"abstract":"\n \n \nThis study analyzes 115 actively managed domestic healthcare mutual funds over the period 1/2000 –12/2011. Findings of this study show that, on average, healthcare mutual funds outperform the passive index by roughly 2.97% per year after controlling for the market risk premium, growth and size premiums, and momentum effects. Further, this study documents that the abnormal over- and under-performance does not persist over subsequent periods. In other words, under- and over- performances are mean reverting. \n \n \n","PeriodicalId":100530,"journal":{"name":"Financial Services Review","volume":"389 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2014-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"9","resultStr":"{\"title\":\"Performance and persistence of performance of healthcare mutual funds\",\"authors\":\"Abhay Kaushik, Lynn K. Saubert, R. W. Saubert\",\"doi\":\"10.61190/fsr.v23i1.3187\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"\\n \\n \\nThis study analyzes 115 actively managed domestic healthcare mutual funds over the period 1/2000 –12/2011. Findings of this study show that, on average, healthcare mutual funds outperform the passive index by roughly 2.97% per year after controlling for the market risk premium, growth and size premiums, and momentum effects. Further, this study documents that the abnormal over- and under-performance does not persist over subsequent periods. In other words, under- and over- performances are mean reverting. \\n \\n \\n\",\"PeriodicalId\":100530,\"journal\":{\"name\":\"Financial Services Review\",\"volume\":\"389 1\",\"pages\":\"\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2014-03-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"9\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Financial Services Review\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.61190/fsr.v23i1.3187\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Financial Services Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.61190/fsr.v23i1.3187","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Performance and persistence of performance of healthcare mutual funds
This study analyzes 115 actively managed domestic healthcare mutual funds over the period 1/2000 –12/2011. Findings of this study show that, on average, healthcare mutual funds outperform the passive index by roughly 2.97% per year after controlling for the market risk premium, growth and size premiums, and momentum effects. Further, this study documents that the abnormal over- and under-performance does not persist over subsequent periods. In other words, under- and over- performances are mean reverting.
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