Assessing Selectivity and Market Timing Performance of Mutual Funds for an Emerging Market: The Case of Turkey

Serkan Imisiker () and Umit Ozlale

Emerging Markets Finance and Trade, 2008, vol. 44, issue 2, 87-99

Abstract: This paper derives and analyzes the selectivity and market timing performance of the mutual funds for the Turkish economy for the financial crisis period by employing high-frequency data. The determinants of these derived abilities are investigated within a regression analysis. The results suggest weak evidence about selection ability and some evidence about superior market timing quality. They also indicate that management fees are negatively correlated with the ability measure, which is quite surprising. Experience emerges as an important factor, especially for market timing ability.

Keywords: emerging markets; mutual funds; selectivity and market timing ability (search for similar items in EconPapers)
Date: 2008
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