Performance Measurement And Evaluation
This chapter discusses methods and techniques for measuring and evaluating performance for the purpose of controlling the investment process. However, many of the methods discussed in this chapter are also used in communicating investment performance between the investment management company and it’s (potential) customers. Therefore, performance measurements also play an important role in the competition between investments management companies. Substantial evidence from the net sales of mutual funds shows that investors buy mutual funds with good past performance records although they fail to sell funds with bad past performance.
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NBER Working Papers
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- Auke Plantinga & Robert van der Meer, 1995. "Liability-driven Performance Attribution," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan, vol. 20(1), pages 16-29, January.
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