Malaysian Evidence on the Performance of Islamic Mutual Funds
Author(s)
Marzuki, A
Worthington, AC
Griffith University Author(s)
Year published
2014
Metadata
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Using robust performance models, this chapter evaluates the performance of Islamic mutual funds (IMFs) in Malaysia during the period February 1996 to December 2009. We respond to the following two questions. First, how does the performance of IMFs compare with conventional mutual funds (CMFs) in Malaysia? Second, do IMFs perform better during bear markets? We find that IMFs generally outperform CMFs during the sample period. However, even though our results suggest that IMFs generally outperform CMFs during downward market trends, they do not appear to exhibit any significant investment hedging function during all crisis periods.Using robust performance models, this chapter evaluates the performance of Islamic mutual funds (IMFs) in Malaysia during the period February 1996 to December 2009. We respond to the following two questions. First, how does the performance of IMFs compare with conventional mutual funds (CMFs) in Malaysia? Second, do IMFs perform better during bear markets? We find that IMFs generally outperform CMFs during the sample period. However, even though our results suggest that IMFs generally outperform CMFs during downward market trends, they do not appear to exhibit any significant investment hedging function during all crisis periods.
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Book Title
Contemporary Issues in Islamic Finance: Principles, Progress, and Prospects
Publisher URI
Subject
Finance