Accurately measuring gold mutual fund performance

David Moreno, Rosa Rodr�guez and Chieh Wang

Applied Economics Letters, 2014, vol. 21, issue 4, 268-271

Abstract: Since the price of gold began climbing dramatically over a decade ago, gold-related industries have received a great deal of attention from investors. Moreover, investing in gold mutual funds has become a promising alternative to investing in gold directly because of the inherent difficulties involved in purchasing the commodity. However, gold's insensitivity to market factors requires a novel benchmark to adjust the returns of gold funds to risk. In the absence of this risk correction, gold mutual fund managers appear to perform systematically better than equity fund managers, although incorporating the new benchmark shows that this appearance is deceptive.

Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/13504851.2013.854295 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:21:y:2014:i:4:p:268-271

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEL20

DOI: 10.1080/13504851.2013.854295

Access Statistics for this article

Applied Economics Letters is currently edited by Anita Phillips

More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().