Mutual fund recommendations on fund flows and returns
Post by MSF Chula at Sunday, 31 January 2021 10:13 PM

Using Thailand open-end mutual fund samples from 2017 to 2019, this study examine the impact of analysts’ recommendations to mutual fund flow and return. We decide to use the analysts’ recommendation from two big management companies in Thailand who publicly released their analysts’ recommendation in weekly periods, SCBAM and KAsset. We hypothesize and find the recommendations have significantly positive impact to mutual fund flows, and found no significantly impact on return. Our study further examine the risk-adjusted return and observe no significant excess return is generated from recommended mutual funds.

Last updated at Sunday, 31 January 2021 10:13 PM