The Relationships between Managerial Characteristics of Mutual Fund and Performance Indicators –Evidence from Taiwan Open-end Equity Fund Market

• Main Authors: Chiu-han Lin, 林秋含
• Other Authors: Woan-yuh Jang
• Format: Others
• Language: zh-TW
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/37131089191048508081

碩士 === 國立臺灣科技大學 === 財務金融研究所 === 101 === The study examines the characteristics of fund managers and fund companies toward the evaluation of open-end equity fund performance and fund risk. The objectives are open-end equity funds in Taiwan mutual fund market. Investing in any open-end equity fund would be made for on April 2nd, 2012 because of announcement of the taxation of capital gains on securities. Therefore, the fund is held for four different periods, which are one month, three months, six months and one year. In one month, foreign asset management companies and financial holdings companies owned better return on fund performance. Compared to the biggest fund size, the companies which held the smaller fund size were good at stock selection. During three months, financial holdings companies or male fund managers are not good at acquiring the risk premium. During six months, it is apparent that the fund company which owned smaller fund size had the better performance and stock selection. Besides, within a year, non-financial holdings fund companies or the fund managers with the local education owned the better performance and stock selection.