The performance persistence of closed-end funds.

Martina K. Schmidt, Jeff Madura

Research output: Contribution to journalArticlepeer-review

Abstract

The purpose of this study is to extend the research on mutual fund performance persistence to net asset value and market price performance of domestic closed-end funds. While research has assessed the performance persistence of open-end mutual funds, it has not assessed the performance persistence of closed-end funds. Yet, the unique characteristics of closed-end funds allow stronger arguments for their persistence than the arguments previously submitted for open-end mutual funds. The results show evidence for risk-adjusted performance persistence.

Original languageAmerican English
JournalDefault journal
StatePublished - Jan 1 2000

Keywords

  • Closed-end funds
  • International closed-end funds
  • Mutual fund performance

Disciplines

  • Business

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