-------- forwarded message ---------
Date: Wed, 8 Jan 2003 15:58:00 +0100
From: Zeiner Sonja <Sonja.Zeiner(a)gutmann.at>
To: "'vfn-l(a)fam.tuwien.ac.at'" <vfn-l(a)fam.tuwien.ac.at>
Subject: Announcement - Gutmann Center for Portfolio Management -
Public lecture with Prof. Alexander Kempf
Talk with Prof. Alexander Kempf, University of Cologne
Date: 27.1.2003
Time: 04:00 pm
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien, Mezzanin
Title of the talk: Tournaments in Mutual Fund Families
Abstract: This lecture deals with the optimal risk taking strategy of mutual
fund managers in rank-order tournaments. The empirical study provides three
major results: First, in addition to the well documented segment tournament
fund managers also play a tournament within their fund family. Second, the
behaviour of fund managers in both tournaments depends crucially on the
number of competitors of the fund manager. Third, the risk taking behaviour
of fund managers in the segment tournament has changed dramatically over
time.
The lecture will be held in German!
Registration: until 22.1.2003
Frau Sonja Zeiner (Tel.: 01/502 20-357 or sonja.zeiner(a)gutmann.at)