Open AccessRisk, Return, And Diversification Of Specialty Mutual Funds
Author(s) -
Thomas S. Howe,
Ralph Pope
Publication year - 2011
Publication title -
journal of applied business research
Language(s) - English
Resource type - Journals
eISSN - 2157-8834
pISSN - 0892-7626
DOI - 10.19030/jabr.v9i4.5992
Subject(s) - diversification (marketing strategy) , business , specialty , global assets under management , passive management , equity (law) , fund of funds , closed end fund , commodity pool , finance , actuarial science , institutional investor , medicine , marketing , corporate governance , political science , pathology , market liquidity , law
This study examines the risk, return, and diversification of specialty mutual funds compared to traditional mutual funds. Until recently, lack of data has precluded examination of the performance of a number of categories of specialty funds. Over the period studied, specialty funds as a whole appeared to earn returns comparable to those of traditional equity mutual funds. On the other hand, most categories of specialty funds were found to have greater total risk and retain significantly more unsystematic risk than traditional equity mutual funds.