English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Plus monthly

Global: Zendy Tools annual

Global: Zendy Tools monthly

Global: Zendy Free Plan

The purpose of this paper is to apply a quadratic directional distance function in order to validate a relative performance indicator for portfolio benchmarking analysis. Based on a daily data set generated from a sample of 43 equity mutual funds the present study compares the performance results given by a directional and two standard distance function models as well as with a traditional fund performance index for periods ranging from 6 months to 4 years. A significant difference was observed in their rankings overall time horizons. This finding implies that ignoring the diversification effect of co-variances in portfolio risk reduction and the potential improvements in returns will yield a biased estimate of mutual fund performance.

Mutual fund performance benchmarking using a quadratic directional distance function approach