Essays about: "Closet Indexing"

Showing result 1 - 5 of 6 essays containing the words Closet Indexing.

1. 1. A Wolf In Sheep's Clothing, A study about potential closet indexing in the Swedish equity mutual fund industry.

   University essay from

   Author : Philip Dufwa; Johan Johansson; [2020-08-20]
   Keywords : Active Share; Tracking error; Fund activity; Fees; Mutual funds; Closet indexing; Index hugging;

   Abstract : We measure the activity of Swedish domiciled equity mutual funds with Sweden as geographical investment universe, by calculating their active share with respect to major market indices like OMX30 GI and OMX Small Cap TR and retrieving tracking error and r-squared from Bloomberg. Afterwards we calculate the cost to investors by comparing the cost of investing in comparable explicit index funds and the cost of the closet indexers. READ MORE

3. 2. Is it worth getting active? A study on active share and fund performance in Sweden

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Erik Eidvall; Jonathan Enqvist; [2017]
   Keywords : Mutual fund; Closet indexing; Active share; Tracking error; Active fund management;

   Abstract : The occurrence of closet index funds has been widely debated in Sweden in recent years. This study examines whether a higher level of mutual fund activity, measured by the two fund activity measures active share and tracking error, correlates with higher fund returns. READ MORE

4. 3. Fund activity and performance: A closer look at the Swedish mutual fund industry

   University essay from

   Author : Henrik Ivarsson; Hugo Olofsson; [2016-07-06]
   Keywords : Fund Activity; Fund Performance; Mutual Funds; Index Funds; Active Share; Tracking Error; Fees;

   Abstract : This paper investigates the level of fund activity and its e ect on fund performance on the Swedish market. By analyzing fund characteristics between 2005 to 2015, we find that among the active fund alternatives, the most active funds generates the highest level of alpha. READ MORE

5. 4. Time to Come Out of the Closet: A Study of Active Fund Management in Sweden

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Jonathan Johansson; Dag Häckner Posse; [2015]
   Keywords : Active Share; Closet indexing; Mutual Fund Performan;

   Abstract : We study the performance of mutual funds and relate it to Active Share on the Swedish fund market, a market where a large portion of funds claim that they engage in more active management than what they really are. During the 09/30/2005 to 09/30/2014 time period we find with statistical significance that a portfolio consisting only of low Active Share large cap funds has underperformed relative to its benchmark. READ MORE

6. 5. The Alleged Value of Active Management

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Simon Lönnvik; Pär Hugo-Persson; [2014]
   Keywords : Mutual Funds; Active Share; Tracking Error; Closet Indexing; Performance;

   Abstract : The activity of Swedish all-equity mutual funds have been subject to widespread debate and even brought to court. This paper investigates the alleged value of Swedish all-equity mutual funds by performing a holding analysis, i.e. comparing the allocation of investments against index. READ MORE