Introduction to Mutual Funds
7. Performance Measurement and Evaluation 191
Bruce Lehmann (UCSD) and Allan Timmermann (UCSD)
8. The Behavior of Mutual Fund Investors 259
Lu Zheng (UCI)
9. Incentives in Funds Management: A Literature Overview 285
Sudipto Bhattacharya (LSE), Amil Dasgupta (LSE), Alexander Guembel (Oxford), and Andrea Prat (LSE)
Mutual funds play a very visible and growing role in financial markets. The proliferation of mutual funds is part of a more general trend involving a growing importance of institutional investors. Total assets under management in the U.S. market have evolved from $50 billion and 500 funds in 1975 to $10 trillion and 9,000 mutual funds being ...