Talk with Prof. Russ Wermers, University of Maryland
Date: 8.10.2002
Time: 04:30 pm
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien, Mezzanin
Title of the talk: Can We Predict the Future Returns of Active Money
Managers?
Abstract: Over the past three decades, academic researchers have, in
general, found that actively managed institutional security portfolios
underperform their passive index-fund counterparts. However, recent research
has found results much more flattering to active management. This talk will
build on this research by discussing the results of two new studies. The
first study addresses whether we can find consistently winning mutual funds,
while the second investigates whether we can use characteristics of mutual
fund managers (e.g., experience and track-record) to further predict which
managers will come out on top. The talk will show that mutual fund returns
are surprisingly predictable.