Staying the Course: The Impact of Investment Style Consistency

Nov 29, 2001 · To test the second hypothesis fully, it is necessary to define both absolute and relative fund returns. As noted, although investors often focus on actual returns when selecting funds (e.g., Capon, Fitzsimons, and Prince (1996)), it is also true that fund complexes and managers act as if they compete in more narrowly defined style-specific ... ................
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