10Sep 2017

MEASURING FUND PERFORMANCE USING MULTI-FACTOR MODELS: EVIDENCE FROM THE INDIAN MUTUAL FUNDS AND ULIP FUNDS.

  • Research Scholar, IKGPTU, Kapurthala, India.
  • Associate Professor, Gulzar Group of Institutes Khanna, India.
  • Research Guide, IKGPTU Kapurthala, India.
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Performance evaluation of investments is of great concern to the investors especially when they have to forego their hard earned money in the form of fees for rendering professional fund management services. In this maiden study performance evaluation of equity-oriented Mutual Funds and Unit Linked Insurance Plan (ULIP) funds is done for the period April 2008 to March 2016. Multi factor models Fama & French Three Factor Model and Carhart Four Factor Model are used to evaluate the selected 80 mutual funds and 60 ULIP funds. It is found that mutual fund managers are adding significant value to the return generation, whereas the ULIP fund managers are not able to add significant value to the return generation.

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[Pardeep Kumar, Dr. Harpreet Aneja and Dr. Ashwani Kumar. (2017); MEASURING FUND PERFORMANCE USING MULTI-FACTOR MODELS: EVIDENCE FROM THE INDIAN MUTUAL FUNDS AND ULIP FUNDS. Int. J. of Adv. Res. 5 (Sep). 312-327] (ISSN 2320-5407). www.journalijar.com

Pardeep Kumar
Research Scholar, IKG PTU, Kapurthala-Punjab

DOI:

Article DOI: 10.21474/IJAR01/5331      
DOI URL: http://dx.doi.org/10.21474/IJAR01/5331

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