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@inproceedings{1361299, author = {Dráb, Tomáš and Florianová, Hana}, address = {Ostrava}, booktitle = {8th International Scientific Conference on Managing and Modelling of Financial Risks}, editor = {ČULÍK, Miroslav}, keywords = {Closet indexing; active investing; mutual funds; benchmark; Czechia}, howpublished = {tištěná verze "print"}, language = {eng}, location = {Ostrava}, isbn = {978-80-248-3994-3}, pages = {179-187}, publisher = {VŠB-Technická univerzita}, title = {Closet Indexing: the Case of Czechia}, year = {2016} }
TY - JOUR ID - 1361299 AU - Dráb, Tomáš - Florianová, Hana PY - 2016 TI - Closet Indexing: the Case of Czechia PB - VŠB-Technická univerzita CY - Ostrava SN - 9788024839943 KW - Closet indexing KW - active investing KW - mutual funds KW - benchmark KW - Czechia N2 - 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. ER -
DRÁB, Tomáš and Hana FLORIANOVÁ. Closet Indexing: the Case of Czechia. In ČULÍK, Miroslav. \textit{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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