DRÁB, Tomáš and Hana FLORIANOVÁ. Closet Indexing: the Case of Czechia. In ČULÍK, Miroslav. 8th International Scientific Conference on Managing and Modelling of Financial Risks. Ostrava: VŠB-Technická univerzita, 2016, p. 179-187. ISBN 978-80-248-3994-3.
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Basic information
Original name Closet Indexing: the Case of Czechia
Authors DRÁB, Tomáš (203 Czech Republic, guarantor, belonging to the institution) and Hana FLORIANOVÁ (203 Czech Republic, belonging to the institution).
Edition Ostrava, 8th International Scientific Conference on Managing and Modelling of Financial Risks, p. 179-187, 9 pp. 2016.
Publisher VŠB-Technická univerzita
Other information
Original language English
Type of outcome Proceedings paper
Field of Study 50202 Applied Economics, Econometrics
Country of publisher Czech Republic
Confidentiality degree is not subject to a state or trade secret
Publication form printed version "print"
RIV identification code RIV/00216224:14560/16:00091809
Organization unit Faculty of Economics and Administration
ISBN 978-80-248-3994-3
ISSN 2464-6970
UT WoS 000495792700021
Keywords in English Closet indexing; active investing; mutual funds; benchmark; Czechia
Tags International impact, Reviewed
Changed by Changed by: Mgr. Daniela Marcollová, učo 111148. Changed: 28/4/2020 11:15.
Abstract
Discussion between advocates of active and passive portfolio management have been lasting for a couple of decades. Evidence of enduring popularity of active management among retail investors can be seen in an astounding amount of actively managed funds offered mainly on vast developed markets. An overwhelming majority of these funds require corresponding charges, in exchange for active management and an opportunity to outperform respective benchmark, which lie significantly higher than those of e.g. ETFs. However, declared effort for active management and its subsequent implementation in practice could turn out to be fundamentally different, and simultaneously there arises a phenomenon of so called closet indexing. Evidence show that closet indexing has been widespread among European funds. The aim of this paper is providing an analysis and assessing an occurrence of closet indexing among mutual funds offered in Czechia in context with the occurrence of this phenomenon abroad.
Links
MUNI/A/0916/2015, interní kód MUName: Behaviorální a znalostní aspekty obchodování a oceňování finančních aktiv
Investor: Masaryk University, Category A
PrintDisplayed: 30/8/2024 01:48