Dublin Core
Title
Re-engineering Mutual Funds Performance in Sub-Saharan Africa: Evidence from the Ghana Stock Exchange
Creator
M Owusu-Akomeah, Y Kong, WK Drah, B Kusi, SO Afriyie
Description
The study presents an examination of mutual funds average returns relative to the benchmark in Ghana using Sharpe and Treynor’s index for a sample of ten Ghanaian Mutual Funds selected on the basis of consecutive data availability during the period of 1st January 2010 to 31st December, 2014. The results revealed that 80% of the Mutual Funds recorded high raw returns with a strong correlation coefficient of +0.6089 between the raw returns and total risk. It was also found that the average Sharpe index for all the Mutual Funds was 1.351 outperforming the benchmark index of 0.300 and more so the average Treynor index for all the Mutual Funds was 12.68 beating the benchmark index of 9.59. Moreover 80% of the Mutual Funds were highly diversified with an average adjusted R-square of 59.88%. The analysis concluded that, the money market funds had a superior performance than the balanced and equity …
Publisher
The study presents an examination of mutual funds average returns relative to the benchmark in Ghana using Sharpe and Treynor’s index for a sample of ten Ghanaian Mutual Funds selected on the basis of consecutive data availability during the period of 1st January 2010 to 31st December, 2014. The results revealed that 80% of the Mutual Funds recorded high raw returns with a strong correlation coefficient of+ 0.6089 between the raw returns and total risk. It was also found that the average Sharpe index for all the Mutual Funds was 1.351 outperforming the benchmark index of 0.300 and more so the average Treynor index for all the Mutual Funds was 12.68 beating the benchmark index of 9.59. Moreover 80% of the Mutual Funds were highly diversified with an average adjusted R-square of 59.88%. The analysis concluded that, the money market funds had a superior performance than the balanced and equity funds under all the three performance evaluation techniques
Date
2017
Source
https://scholar.google.com/citations?view_op=view_citation&hl=en&user=TbSlw38AAAAJ&cstart=20&pagesize=80&citation_for_view=TbSlw38AAAAJ:KlAtU1dfN6UC
Language
English