This study examines the relationship between investment performance and concentration in
active equity portfolios. Active management is dependent on the success of two important …

This study examines the performance and trading characteristics of exchange-traded funds (ETFs)
in Australia. We investigate the ability of the population of index oriented (classical) …

Using unique daily fund-manager trade data, we examine the role of institutional trading in
influencing firm performance. We show that short-horizon informed trading by multiple …

We study the informativeness of trades via discount and full-service retail brokers. We find
that trades via full-service retail brokers are statistically and economically more informative …

Recent studies find evidence that small funds outperform large funds. This fund size effect is
commonly hypothesized to be caused by transaction costs. Due to the lack of transactions …

The present study examines the performance of Australian investment management organisations
with direct reference to their specific characteristics and strategies employed. Using a …

This article examines the performance of index equity funds in Australia. Despite the significant
growth in index funds since 1976, when the first index mutual fund was launched in the …

The present paper examines the performance and diversification properties of active
Australian equity fund‐of‐funds (FoF). Simulation analysis is employed to examine portfolio …

This study represents the first empirical examination of the daily trading and portfolio configuration
strategies of index and enhanced index equity funds. We document that passive funds …

Utilizing a database of daily institutional fund manager trades, we examine the contribution
of strategic trading at quarter-end associated with potential ‘portfolio pumping’ or ‘ramping up…