An assessment of the performance of greek mutual equity funds selectivity and market timing

Abstract

This paper empirically examines the performance of fifteen Greek mutual equity funds. The data on which this study was based is monthly and refer to the period January, 2000 to December, 2008. Based on the Treynor-Mazuy model and Sharpe and Treynor measures, the paper evaluates which equity fund entails selectivity and market timing. Our results demonstrate that the examined domestic mutual equity funds have not exhibited selectivity and showed minimum market timing ability during the study period.