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Mutual Fund Management Performance In Transition Countries: Domestic Vs. Foreign Mutual Fund Managers – Research Findings For Slovenia

Author

Listed:
  • Tanja Markovic-Hribernik

    (Faculty of Economics and Business, University of Maribor, Maribor)

  • Andrej Kuzner

    (Probanka d.d.,Maribor)

Abstract

In this paper, the performance of management approaches of different equity mutual funds marketed in Slovenia are compared based on their origin; domestic versus foreign. The purpose of this study is to determine whether foreign mutual fund managers are better performing than their domestic counterparts. Referring to the period 2006-2010, this research was carried out on a sample of selected domestic and foreign equity mutual funds, which were treated separately according to the geographical orientation of their investment policies (developed markets vs. emerging markets). Management performance was analysed by means of risk-adjusted return measures, i.e. Sharpe, Traynor and Sortino ratios. In general, the research findings do not confirm foreign mutual fund managers to be outperforming the domestic operators.

Suggested Citation

  • Tanja Markovic-Hribernik & Andrej Kuzner, 2013. "Mutual Fund Management Performance In Transition Countries: Domestic Vs. Foreign Mutual Fund Managers – Research Findings For Slovenia," Romanian Economic Business Review, Romanian-American University, vol. 8(4), pages 84-105, december.
    • Handle: RePEc:rau:journl:v:8:y:2013:i:4:p:84-105
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    References listed on IDEAS

    as
    1. Bialkowski, Jedrzej & Otten, Roger, 2011. "Emerging market mutual fund performance: Evidence for Poland," The North American Journal of Economics and Finance, Elsevier, vol. 22(2), pages 118-130, August.
    2. Jana Fajtová, 2004. "Open-Ending of Closed-End Funds in the CR: Price and Discount Reaction - Empirical Evidence," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 54(1-2), pages 22-49, January.
    3. Jan Hájek, 2007. "Czech Capital Market Weak-Form Efficiency, Selected Issues," Prague Economic Papers, Prague University of Economics and Business, vol. 2007(4), pages 303-318.
    4. Laurens Swinkels & Pawel Rzezniczak, 2009. "Performance evaluation of Polish mutual fund managers," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 4(1), pages 26-42, January.
    Full references (including those not matched with items on IDEAS)

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