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International Journal of Innovation and Applied Studies
ISSN: 2028-9324     CODEN: IJIABO     OCLC Number: 828807274     ZDB-ID: 2703985-7
 
 
Saturday 22 September 2018

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WAEMU (West Africa) Mutual fund performance: An empirical decomposition into stock picking and market timing of managers


[ Performance des Fonds Communs de Placement de l’UEMOA (Afrique de l’ouest): Une décomposition empirique entre sélectivité et agressivité des gérants de fonds ]

Volume 18, Issue 2, October 2016, Pages 425–437

 WAEMU (West Africa) Mutual fund performance: An empirical decomposition into stock picking and market timing of managers

Banh Daouda1

1 Doctorant en Sciences de Gestion, Université Felix Houphouët Boigny, Côte D’Ivoire

Original language: French

Received 27 June 2016

Copyright © 2016 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract


This paper investigates 8 mutual funds’ performance in the WAEMU. The monthly data used cover the period 31 July 2010 to 31 March 2014. We find in this context that mutual funds managers, as a whole, do not have selectivity. Also, most of the managers show a certain ability to time the market.

Author Keywords: Mutual Funds, selectivity, market timing, CAPM, WAEMU.


Abstract: (french)


Cet article analyse la performance de 8 fonds communs de placement dans la zone UEMOA. Les données mensuelles couvrent la période allant du 31 Juillet 2010 au 31 mai 2014. Les résultats obtenus, montrent que dans l’ensemble, les gérants de fonds ne présentent pas une capacité de sélection des titres sous-évalués. Par ailleurs, la majorité des gérants de fonds de l’UEMOA arrivent à anticiper les mouvements de marché.

Author Keywords: Fonds commun de placement, sélectivité, agressivité, MEDAF, UEMOA.


How to Cite this Article


Banh Daouda, “WAEMU (West Africa) Mutual fund performance: An empirical decomposition into stock picking and market timing of managers,” International Journal of Innovation and Applied Studies, vol. 18, no. 2, pp. 425–437, October 2016.