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

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

Adavelli Sagar Reddy

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Dr. Y Rama Krishna

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Dr. Sindhu

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RK Business School

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

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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.

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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. 2016. \u201cMeasuring Efficiency of Select Large Cap and Small Cap Open Ended Equity Schemes\u201d. Global Journal of Management and Business Research - C: Finance GJMBR-C Volume 16 (GJMBR Volume 16 Issue C2).

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GJMBR Volume 16 Issue C2

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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GJMBR-C Classification JEL Code: G1

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

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v1.2

Issue date

March 16, 2016

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Article Matrices

Total Score: 113

Country: India

Subject: Global Journal of Management and Business Research - C: Finance

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

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Total Downloads (simulated): 1935

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Total Views: 4121

Total Downloads: 1935

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