Stock selection and market timing ability of fund managers: Evidence from Pakistan
Abstract
Abstract
В В В В В В В В В В В В В Fund managers performance remains the focus of attention all the times. Mutual funds manager claims that they can beat the market. How successful they are in achieving their claim remains the question of interest. В Several models have been developed for evaluating the performance of mutual fund managers. Stock selection skills and market timing ability are one of them.В This study aims to evaluating the performance of fund managers in Pakistan. Traditional JРµnsРµn model and TrРµnОїy & MО±zuy model were employed. The results indicate that mutual fund managers are not beating the market (KSE 100 index). We also find that fund managers do not possess the market timing ability. However, stock selection skills found significant in Islamic fund managers, but the same is the absence in the conventional fund.В
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