Includes bibliographical references / There is a plethora of academic literature on the relationship between a collective investment scheme's (or mutual fund) size and its risk-adjusted performance but the research has produced contradictory results with no apparent consensus. Data from a sample size of 100 (one hundred) collective investment schemes in the Association for Savings and Investments (South Africa) ("ASISA"), SA Equity General Fund classification group over a 10 (ten) year period was analysed using regression techniques and ranking analysis to examine whether there was any prime facie relationship between the fund size and the risk-adjusted performance of South African collective investment schemes. The regression analysis found no statistically significant correlation between fund size and risk-adjusted performance. However, the results of the ranking analysis suggested a possible inverted U-Shape relationship between collective investment scheme fund size and risk-adjusted performance. This therefore presents an argument for an optimal fund size range of between R912,267,649.3 and R1,930,696,676 (about 1 - 2 billion Rand) in assets under management to maximise risk-adjusted performance.
Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:uct/oai:localhost:11427/16662 |
Date | January 2015 |
Creators | Kopke, Kerry-Leigh Elizabeth |
Contributors | West, Darron |
Publisher | University of Cape Town, Faculty of Commerce, Department of Finance and Tax |
Source Sets | South African National ETD Portal |
Language | English |
Detected Language | English |
Type | Master Thesis, Masters, MCom |
Format | application/pdf |
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