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Active fund management performance and costs
Dissertation (MBA)--University of Pretoria, 2012.
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| Format: | Thesis |
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University of Pretoria
2013
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| _version_ | 1867613710717026304 |
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| access_status_str | Open Access |
| author2 | Ward, Mike |
| author_browse | Ward, Mike |
| author_facet | Ward, Mike |
| collection | Thesis |
| dc_rights_str_mv | © 2011 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Dissertation (MBA)--University of Pretoria, 2012. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/27177 |
| institution | University of Pretoria (South Africa) |
| last_indexed | 2026-06-10T12:40:28.830Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2013 |
| publishDateRange | 2013 |
| publishDateSort | 2013 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/27177 Active fund management performance and costs Ward, Mike ichelp@gibs.co.za Waldeck, Ben Henry UCTD Mutual fund Active expense ratio Passive management Active management Unit trusts Dissertation (MBA)--University of Pretoria, 2012. Active weight, active expense ratio and active alpha are measures that can be calculated with relative ease for any fund using publicly available data. However, for active weight to be truly useful to an investor the relationship between these quantities and fund performance needed to be explored in greater detail. Furthermore, the costs of South African unit trust funds had not been studied using Miller’s techniques and needed further study. Finally, active weight had not been used to study the evolution of active management over time. Using quarterly South African unit trust fund data this study delivered on the following key findings: that funds with higher active weight provide excess returns to their investors; that funds with a higher active expense ratio do not necessarily provide greater returns; and that the active alpha for South African unit trusts is negatively correlated with fund performance. Gordon Institute of Business Science (GIBS) unrestricted 2013-09-07T10:52:50Z 2012-10-01 2013-09-07T10:52:50Z 2012-03-08 2012-10-01 2012-08-11 Dissertation Waldeck, BH 2011, Active fund management performance and costs, MBA dissertation, University of Pretoria, Pretoria, viewed yymmdd < http://hdl.handle.net/2263/27177 > F/12/4/805/zw http://hdl.handle.net/2263/27177 http://upetd.up.ac.za/thesis/available/etd-08112012-191913/ © 2011 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Mutual fund Active expense ratio Passive management Active management Unit trusts Active fund management performance and costs |
| title | Active fund management performance and costs |
| title_full | Active fund management performance and costs |
| title_fullStr | Active fund management performance and costs |
| title_full_unstemmed | Active fund management performance and costs |
| title_short | Active fund management performance and costs |
| title_sort | active fund management performance and costs |
| topic | UCTD Mutual fund Active expense ratio Passive management Active management Unit trusts |
| url | http://hdl.handle.net/2263/27177 http://upetd.up.ac.za/thesis/available/etd-08112012-191913/ |