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Assessing Selectivity and Market Timing Performance of Mutual Funds for an Emerging Market: The Case of Turkey

Author

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  • Serkan Imisiker
  • Umit Ozlale

Abstract

This paper derives and analyzes the selectivity and market timing performance of the mutual funds for the Turkish economy for the financial crisis period by employing high-frequency data. The determinants of these derived abilities are investigated within a regression analysis. The results suggest weak evidence about selection ability and some evidence about superior market timing quality. They also indicate that management fees are negatively correlated with the ability measure, which is quite surprising. Experience emerges as an important factor, especially for market timing ability.

Suggested Citation

  • Serkan Imisiker & Umit Ozlale, 2008. "Assessing Selectivity and Market Timing Performance of Mutual Funds for an Emerging Market: The Case of Turkey," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 44(2), pages 87-99, March.
    • Handle: RePEc:mes:emfitr:v:44:y:2008:i:2:p:87-99
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    Cited by:

    1. Białkowski, Jędrzej & Bohl, Martin T. & Kaufmann, Philipp & Wisniewski, Tomasz P., 2013. "Do mutual fund managers exploit the Ramadan anomaly? Evidence from Turkey," Emerging Markets Review, Elsevier, vol. 15(C), pages 211-232.

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