Performance Measurement without Benchmarks: An Examination of Mutual Fund Returns.

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Grinblatt, Mark; Titman, Sheridan;
  • Journal: Journal of Business, volume 66, issue 1 January, pages 47-68
  • Related identifiers: doi: 10.1086/296593

This article introduces a new measure of portfolio performance and applies it to study the performance of a large sample of mutual funds. In contrast to previous studies of mutual fund performance, the measure used in this study employs portfolio holdings and does not r... View more
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