Journal article
The determinants and predictive ability of mutual fund ratings
The Journal of investing, v 7(3), pp 61-66
01 Oct 1998
Abstract
This article examines the determinants and the predictive ability of the Morningstar mutual fund rating system. The authors find that funds with higher ratings tend to have higher risk-adjusted returns, lower systematic risk, a higher degree of diversification, a larger asset base, longer managerial tenure, and lower front-load charges and expense ratios. Furthermore, fund ratings tend to exhibit significant persistence over a short-term time horizon, and a highly rated funds tend to perform better than other funds during the time period of the study.
Metrics
10 Record Views
Details
- Title
- The determinants and predictive ability of mutual fund ratings
- Creators
- Ajay Khorana - Georgia Institute of TechnologyEdward Nelling - Georgia Institute of Technology
- Publication Details
- The Journal of investing, v 7(3), pp 61-66
- Publisher
- Pageant Media
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Finance
- Other Identifier
- 991021881409004721