| Individual investors put their money into actively managed mutual funds because they would like to delegate the asset allocation decision to professional fund managers. However, a recent study found an average mutual fund manager can not beat the market after fees, expenses, etc., so investors have to figure out good funds from bad funds, and leave a good fund before it becomes bad.; My dissertation consists of two chapters, the first focuses on the relationship between a fund's performance and its portfolio scope; I hope it will help investors to be able to differentiate good funds from bad ones; the second studies the acquisition of mutual funds. I hope that it will help investors to better protect themselves in the dynamic world of mutual fund. |
