Lau, Wee Yeap and Chan, Tze-Haw (2004): Does Misclassification of Equity Funds Exist? Evidence from Malaysia.
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Applying the style analysis developed by Sharpe (1988, 1992), this paper investigates the classification of equity funds in Malaysia. A methodology for creating purified mutual fund style indexes is used to verify existing classifications. The paper concludes that an improper classification of funds would not only cause mismatch between investors objectives and funds’ profile, it also affects the process of income smoothing in the lifecycle of investors. Besides estimating the possible economic impact due to misclassification, this study highlights the importance of a proper classification system of equity funds in Malaysian context and its implication towards investor’s protection.
|Item Type:||MPRA Paper|
|Original Title:||Does Misclassification of Equity Funds Exist? Evidence from Malaysia|
|Keywords:||Mutual Fund Classification; Style Analysis; Investor’s Protection|
|Subjects:||G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation
G - Financial Economics > G2 - Financial Institutions and Services > G24 - Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies
G - Financial Economics > G3 - Corporate Finance and Governance > G30 - General
|Depositing User:||Tze-Haw Chan|
|Date Deposited:||06. Mar 2007|
|Last Modified:||10. Jan 2014 03:02|
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