Measuring Efficiency of Select Large Cap and Small Cap Open Ended Equity Schemes

Adavelli Sagar Reddy; Dr. Y Rama Krishna; Dr. Sindhu

Measuring Efficiency of Select Large Cap and Small Cap Open Ended Equity Schemes

Adavelli Sagar Reddy * §

Contact

Dr. Y Rama Krishna

Contact

Dr. Sindhu

Contact

§ RK Business School

Measuring Efficiency of Select Large Cap and Small Cap Open Ended Equity Schemes

Article Fingerprint

ReserarchID

MBR4G905

Measuring Efficiency of Select Large Cap and Small Cap Open Ended Equity Schemes Banner

AI TAKEAWAY

Connecting with the Eternal Ground

Abstract

In this study researchers evaluate fund specific and comparative risk adjusted performance of open ended equity growth schemes and also assess relative efficiency of select mutual fund schemes. Daily Net Asset Values (NAVs) of 17 funds for a period of eight years are gathered. Data are transformed using Log Normal method. Risk adjusted performance is measured using Sharpe index, comparative analyses are conducted using analysis of variance and t-test. Finally relative efficiency is measured with Data Envelopment Analysis (DEA). The study results report that, of the eight years, sample schemes reported positive risk adjusted returns for four years, and for remaining four years fund returns are negative. Researchers failed to find any difference in the performance among schemes. Furthermore, there is no difference in the performance of small cap and large cap fund schemes. Relative efficiency performance is also not statistically significant.

References

20 Cites in Article

Reference Format

Amporn Soongswang,Yosawee Sanohdontree (2011). Open-Ended Equity Mutual Funds.
Amy Lipton,Richard Kish (2010). Robust Performance Measures for High Yield Bond Funds.
Antonella Basso,Stefania Funari (2001). A data envelopment analysis approach to measure the mutual fund performance.
Aron Gottesman,Matthew Morey (2006). Manager Education and Mutual Fund Performance.
B Golany,Y Roll (1989). An Application Procedure for DEA.
B Murthi,Yoon Choi,Preyas Desai (1997). Efficiency of mutual funds and portfolio performance measurement: A non-parametric approach.
Chiang Kao,Shiang-Tai Liu (2011). Scale Efficiency Measurement in Data Envelopment Analysis with Interval Data: A Two-Level Programming Approach.
A Hany,Jianbo Shawky,Tian (2011). Small-Cap Equity Mutual Fund Managers as Liquidity Providers.
Jose Tongzon (2001). Efficiency Measurement of Selected Australian and Other International Ports Using Data Envelopment Analysis.
Keith Cuthbertson,Dirk Nitzsche,Niall O' Sullivan (2008). UK Mutual Fund Performance: Skill or Luck?.
Martin Eling,Roger Faust (2010). The performance of hedge funds and mutual funds in emerging markets.
C Michael,Jensen (1967). The Performance of Mutual Funds in the Period 1945-1964.
Ming-Ming Lai,Siok-Hwa Lau (2010). Evaluating mutual fund performance in an emerging Asian economy: The Malaysian experience.
Nicole Adler,Lea Friedman,Zilla Sinuany-Stern (2002). Review of Ranking Methods in the Data Envelopment Analysis Context.
Oleksandra Lemeshko,Oldrich Rejnus (2015). Performance Evaluation of Equity Mutual Funds in Countries with Emerging Economies: Evidence from BRIC, CEE, sea and MENA Regions.
S Kordrostami,M Jahani,Sayyad Noveiri (2012). Evaluating the Efficiency of Decision Making Units in the Presence of Flexible and Negative Data.
Ms. Pal,Arti Chandani (2014). A Critical Analysis of Selected Mutual Funds in India.
Sung Sin,Kim,Pando Sohn (2013). Market Timing Performance in the Korean Fund Market: Evidence from Portfolio Holdings.
Vassilios Babalos,Guglielmo Caporale,Nikolaos Philippas (2015). Gender, style diversity, and their effect on fund performance.
Vincent Glode (2011). Why Mutual Funds'' Underperform.

Download References

Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Adavelli Sagar Reddy, Dr. Y Rama Krishna, Dr. Sindhu. 2016. "Measuring Efficiency of Select Large Cap and Small Cap Open Ended Equity Schemes". Global Journal of Management and Business Research - C: Finance GJMBR-C Volume 16 (GJMBR Volume 16 Issue C2).

More Citation Formats

Select Citation Style:

Download Citation

GJMBR Volume 16 Issue C2

Explore Journals Explore Volume Read This Issue

Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

Not Found

Classification

GJMBR-C Classification JEL Code: G1

Submission ReceivedDecember 13, 2015
Peer Review Double Blind
Handling Editor
Accepted January 5, 2016
Published January 15, 2016

Version of record

v1.2

Issue date

March 16, 2016

Language

English

Experiance in AR

Explore published articles in an immersive Augmented Reality environment. Our platform converts research papers into interactive 3D books, allowing readers to view and interact with content using AR and VR compatible devices.

View in VR

Read in 3D

Your published article is automatically converted into a realistic 3D book. Flip through pages and read research papers in a more engaging and interactive format.

View in 3D

Article Matrices

Total Score: 160

Country: India

Subject: Global Journal of Management and Business Research

Authors: Adavelli Sagar Reddy, Dr. Y Rama Krishna, Dr. Sindhu (PhD/Dr. count: 2)

View Count (all-time): 271

Total Views (Real + Logic): 1039

Total Downloads (simulated): 74

Publish Date: 2016 01, Fri

Monthly Totals (Real + Logic):

Month 1: 32 views
Month 2: 35 views
Month 3: 31 views
Month 4: 23 views
Month 5: 58 views
Month 6: 34 views
Month 7: 36 views
Month 8: 48 views
Month 9: 45 views
Month 10: 43 views
Month 11: 45 views
Month 12: 16 views
Month 13: 36 views
Month 14: 39 views
Month 15: 26 views
Month 16: 41 views
Month 17: 25 views
Month 18: 44 views
Month 19: 26 views
Month 20: 50 views
Month 21: 31 views
Month 22: 40 views
Month 23: 15 views
Month 24: 38 views
Month 25: 42 views
Month 26: 26 views
Month 27: 46 views
Month 28: 34 views
Month 29: 28 views
Month 30: 44 views
Month 31: 13 views
Month 32: 25 views
Month 33: 19 views
Month 34: 32 views
Month 35: 24 views
Month 36: 17 views
Month 37: 40 views
Month 38: 13 views
Month 39: 38 views
Month 40: 27 views
Month 41: 24 views
Month 42: 42 views
Month 43: 33 views
Month 44: 15 views
Month 45: 41 views
Month 46: 22 views
Month 47: 27 views
Month 48: 41 views
Month 49: 34 views
Month 50: 48 views
Month 51: 33 views
Month 52: 25 views
Month 53: 24 views
Month 54: 24 views
Month 55: 37 views
Month 56: 33 views
Month 57: 37 views
Month 58: 35 views
Month 59: 39 views
Month 60: 37 views
Month 61: 35 views
Month 62: 21 views
Month 63: 18 views
Month 64: 45 views
Month 65: 26 views
Month 66: 35 views
Month 67: 30 views
Month 68: 40 views
Month 69: 48 views
Month 70: 13 views
Month 71: 37 views
Month 72: 37 views
Month 73: 45 views
Month 74: 32 views
Month 75: 35 views
Month 76: 40 views
Month 77: 27 views
Month 78: 34 views
Month 79: 25 views
Month 80: 36 views
Month 81: 33 views
Month 82: 31 views
Month 83: 18 views
Month 84: 24 views
Month 85: 39 views
Month 86: 34 views
Month 87: 45 views
Month 88: 22 views
Month 89: 18 views
Month 90: 21 views
Month 91: 33 views
Month 92: 27 views
Month 93: 33 views
Month 94: 17 views
Month 95: 26 views
Month 96: 27 views
Month 97: 28 views
Month 98: 49 views
Month 99: 31 views
Month 100: 27 views
Month 101: 30 views
Month 102: 26 views
Month 103: 38 views
Month 104: 32 views
Month 105: 22 views
Month 106: 36 views
Month 107: 44 views
Month 108: 37 views
Month 109: 23 views
Month 110: 35 views
Month 111: 42 views
Month 112: 36 views
Month 113: 29 views
Month 114: 45 views
Month 115: 47 views
Month 116: 17 views
Month 117: 30 views
Month 118: 40 views
Month 119: 49 views
Month 120: 27 views
Month 121: 41 views
Month 122: 47 views
Month 123: 46 views
Month 124: 27 views
Month 125: 28 views
Month 126: 42 views
Month 127: 31 views
Month 128: 28 views
Month 129: 35 views

Total Views: 1K

Total Downloads: 74

All Trends