Morningstar ratings and performance of mutual funds

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dc.contributor.authorSinha, Partha Sarati
dc.contributor.supervisorAlam, Shamsul
dc.date.accessioned2014-06-20T21:52:40Z
dc.date.available2014-06-20T21:52:40Z
dc.date.issued2013
dc.degree.levelMastersen_US
dc.degree.levelMasters
dc.descriptionix, 184 leaves ; 29 cmen_US
dc.description.abstractIn this study, we examine the predictive power of Morningstar’s new ratings for mutual funds’ future performance and compare its predictive power with four competing predictors. We also examine Morningstar’s new ratings’ predictive power in bull and bear periods. Furthermore, we compare the predictive power of the new and old star-ratings. We perform all these tests for both U.S. and Canadian equity funds. We use a regression model and non-parametric tests in this study. The results suggest Morningstar’s new ratings accurately rank funds and predict out-of-sample performance of only five-star rated complete funds for short- and medium-terms for U.S., and for medium-term only for Canada. Also, predictive power of Morningstar’s new ratings is low compared to four alternative predictors for both countries. Further, the new star ratings accurately predicts for bear period for both markets. The old ratings (new ratings), however relatively predict better for U.S. funds (Canadian funds).en_US
dc.identifier.urihttps://hdl.handle.net/10133/3458
dc.language.isoen_CAen_US
dc.proquestyesNoen_US
dc.publisherLethbridge, Alta. : University of Lethbridge, Faculty of Managementen_US
dc.publisher.facultyManagementen_US
dc.relation.ispartofseriesThesis (University of Lethbridge. Faculty of Management)en_US
dc.subjectMorningstar, Inc. -- Researchen_US
dc.subjectMutual funds -- Ratings and rankings -- Researchen_US
dc.subjectInvestment analysisen_US
dc.subjectDissertations, Academicen_US
dc.titleMorningstar ratings and performance of mutual fundsen_US
dc.typeThesisen_US
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