Size and Performance: Evidence on Brazilian Multimarket Funds

Size and Performance: Evidence on Brazilian Multimarket Funds

Rodrigo Fernandes Malaquias

Contact

Lucas Alves Duarte De Sarvas

Contact

Lynnea Naves Souza Oliveira

Contact

Universidade Federal de Uberlândia

Size and Performance: Evidence on Brazilian Multimarket Funds

Article Fingerprint

ReserarchID

C: FINANCEPIFL5

Size and Performance: Evidence on Brazilian Multimarket Funds Banner

AI TAKEAWAY

Connecting with the Eternal Ground

Abstract

This study aims to evaluate the effect of size on performance of Brazilian multimarket funds. The final sample is comprised by 231 funds covering 7,997 monthly observations in the period from January, 2009 to March, 2014. We employed multivariate regression analysis, with pooled data. Our research model also includes the following control variables: management fee, performance fee, and age. The main results show that size represents an important variable to address performance of investment funds in Brazil, and there are arguments about an optimal size for funds that operate in this market.

References

27 Cites in Article

Reference Format

V Agarwal,N Naik (2000). Multi-Period Performance Persistence Analysis of Hedge Funds.
(2015). Indústria de Fundos de investimento: Anuário 2015.
V Babalos,E Mamatzakis,R Matousek (2015). The performance of US equity mutual funds.
David Blake,Tristan Caulfield,Christos Ioannidis,Ian Tonks (2014). Improved inference in the evaluation of mutual fund performance using panel bootstrap methods.
Bruno Castro,Andrea Minardi (2009). Comparação do Desempenho dos Fundos de Ações Ativos e Passivos.
Joseph Chen,Harrison Hong,Ming Huang,Jeffrey Kubik (2004). Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization.
X Chen,Y Lai (2015). On the concentration of mutual fund portfolio holdings: Evidence from Taiwan.
L Costa,W Eid (2006). Anais do(a) XX Encontro Nacional da Associação Nacional de Pós-Graduação e Pesquisa em Planejamento Urbano e Regional.
Haoyuan Ding,Huanhuan Zheng,Chenqi Zhu (2015). Equity funds in emerging Asia: Does size matter?.
W Eid Junior,R Rochman (2015). Fundos de Investimento no Brasil: desafios e oportunidades [Investment Funds in Brazil: Chalanges and Opportunities.
E Fama (1970). Efficient capital markets: a review of theory and empirical work.
S Fonseca,R Malaquias (2012). O efeito Smart Money no segmento de fundos multimercados.
Philip Gharghori,Shifali Mudumba,Madhu Veeraraghavan (2009). How smart is money? An investigation into investor behaviour in the Australian managed fund industry.
Martin Gruber (1996). Another Puzzle: The Growth in Actively Managed Mutual Funds.
Mark Grinblatt,Sheridan Titman (1989). Mutual Fund Performance: An Analysis of Quarterly Portfolio Holdings.
R Heaney,T Hallahan,T Josev,H Mitchell (2007). Time-changing alpha? The case of Australian international mutual funds.
D Indro,C Jiang,M Hu,W Lee (1999). Mutual fund performance: does fund size matter?.
R Malaquias,W Eid (2013). Eficiência de Mercado e Desempenho de Fundos Multimercados.
Rodrigo Malaquias,William Eid Junior (2014). Fundos multimercados: desempenho, determinantes do desempenho e efeito moderador.
Fernanda Malaquias,Rodrigo Malaquias,Flaida Souza,Samuel Mamede,Ana Oliveira (2016). O EFEITO SMART MONEY EM PERÍODOS DE CRISE FINANCEIRA.
R Malaquias,S Mamede (2015). Efeito Calendário e Finanças Comportamentais no Segmento de Fundos Multimercados.
P Milan,W Eid (2014). Elevada Rotatividade de Carteiras e o Desempenho dos Fundos de Investimento em Ações.
B Milani,P Ceretta (2012). Tamanho e rentabilidade dos fundos brasileiros de investimento em ações.
N Pillay,C Muller,M Ward (2010). Fund size and returns on the JSE.
Ke Tang,Wenjun Wang,Rong Xu (2012). Size and performance of Chinese mutual funds: The role of economy of scale and liquidity.
G Varga (2012). Anais do(a) XX Encontro Nacional da Associação Nacional de Pós-Graduação e Pesquisa em Planejamento Urbano e Regional.
Russ Wermers (2003). Is Money Really 'Smart'? New Evidence on the Relation Between Mutual Fund Flows, Manager Behavior, and Performance Persistence.

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

Rodrigo Fernandes Malaquias. 2017. \u201cSize and Performance: Evidence on Brazilian Multimarket Funds\u201d. Global Journal of Management and Business Research - C: Finance GJMBR-C Volume 16 (GJMBR Volume 16 Issue C9).

More Citation Formats

Select Citation Style:

Download Citation

GJMBR Volume 16 Issue C9

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: D53

Submission ReceivedDecember 12, 2015
Peer Review Double Blind
Handling Editor
Accepted December 31, 2015
Published January 15, 2016

Version of record

v1.2

Issue date

January 26, 2017

Language

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: 103

Country: Brazil

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

Authors: Rodrigo Fernandes Malaquias, Lucas Alves Duarte De Sarvas, Lynnea Naves Souza Oliveira (PhD/Dr. count: 0)

View Count (all-time): 185

Total Views (Real + Logic): 3602

Total Downloads (simulated): 1763

Publish Date: 2017 01, Thu

Monthly Totals (Real + Logic):

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

Total Views: 3602

Total Downloads: 1763

2026 Trends

Our website is actively being updated, and changes may occur frequently. Please clear your browser cache if needed. For feedback or error reporting, please email [email protected]