The prima facie relationship between size of assets under management and the risk-adjusted performance of South African collective investment schemes

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dc.contributor.advisorWest, Darronen_ZA
dc.contributor.authorKopke, Kerry-Leigh Elizabethen_ZA
dc.date.accessioned2016-02-01T10:17:16Z
dc.date.available2016-02-01T10:17:16Z
dc.date.issued2015en_ZA
dc.descriptionIncludes bibliographical referencesen_ZA
dc.description.abstractThere 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.en_ZA
dc.identifier.apacitationKopke, K. E. (2015). <i>The prima facie relationship between size of assets under management and the risk-adjusted performance of South African collective investment schemes</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax. Retrieved from http://hdl.handle.net/11427/16662en_ZA
dc.identifier.chicagocitationKopke, Kerry-Leigh Elizabeth. <i>"The prima facie relationship between size of assets under management and the risk-adjusted performance of South African collective investment schemes."</i> Thesis., University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2015. http://hdl.handle.net/11427/16662en_ZA
dc.identifier.citationKopke, K. 2015. The prima facie relationship between size of assets under management and the risk-adjusted performance of South African collective investment schemes. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Kopke, Kerry-Leigh Elizabeth AB - 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. DA - 2015 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2015 T1 - The prima facie relationship between size of assets under management and the risk-adjusted performance of South African collective investment schemes TI - The prima facie relationship between size of assets under management and the risk-adjusted performance of South African collective investment schemes UR - http://hdl.handle.net/11427/16662 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/16662
dc.identifier.vancouvercitationKopke KE. The prima facie relationship between size of assets under management and the risk-adjusted performance of South African collective investment schemes. [Thesis]. University of Cape Town ,Faculty of Commerce ,Department of Finance and Tax, 2015 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/16662en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentDepartment of Finance and Taxen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherFinancial Managementen_ZA
dc.titleThe prima facie relationship between size of assets under management and the risk-adjusted performance of South African collective investment schemesen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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