Munich Personal RePEc Archive

La persistance des performances des OPCVM actions françaises

De Marchi, Raffaele (2006): La persistance des performances des OPCVM actions françaises. Published in: Banque & Marchés No. 82 (2006): pp. 24-40.

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Using a data set which is largely free of survivorship bias, this study analyzes the persistence of the performance of French equity funds from 1993 to 2002. The main empirical result is that persistence, although detected in some years, appears to be a quite unstable phenomenon, strongly dependent upon the time period of study. Evidence that historical information can be used to select “superior” managers is weak. Overall, the results are consistent with market efficiency.

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