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    Evaluating the performance of Thai equity funds 

    Ekkachai Boonchuaymetta (Assumption University, 2008)

    The focus of this study is to evaluate the performance of selected 48 open-ended equity mutual fonds in Thailand during the year 2003 through 2007. Four performance measures are used, the Treynor measure, the Sharpe measure, the Jensen measure, and Treynor-Mazuy measure. The empirical results reveal limited ability of mutual fand managers in both selecting undervalued stocks and forecasting the market correctly. Based on the market timing techniques of'Jreynor-Mazuy model, only ten mutual funds present significant ...