Style, Fees and Performance of Italian Equity Funds

R. Cesari and F. Panetta

Working Papers from Banca Italia - Servizio di Studi

Abstract: Using a clustering procedure, we classify Italian funds ex-post on the basis of the composition of their portfolios and find that the optimal number of clusters is equal to 4. The four groups which result from the statistical classification closely match the 4-level aggregation of the 20 ex-ante categories used by the Italian mutual funds association.

Keywords: FINANCIAL ASSETS; ITALY; RISK (search for similar items in EconPapers)
JEL-codes: G14 G11 (search for similar items in EconPapers)
Date: 1998
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