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Contribution Details
| Type | Bachelor's Thesis |
| Scope | Discipline-based scholarship |
| Title | Morningstar Star Rating: An Indicator for future Performance! |
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| Institution | University of Zurich |
| Faculty | Faculty of Economics, Business Administration and Information Technology |
| Number of Pages | 33 |
| Date | 2015 |
| Abstract Text | The Morningstar star rating is the best known rating for investment funds. Investors are highly influenced by the ratings given to funds shown with fund flows. In the thesis, net returns of European domiciled Global Large Cap Blend retail funds from 2005 to 2014 are analyzed to test the predictive ability of the rating. The model used is the Fama French with Momentum with monthly return data. The results show two things about fund performance: first, the funds are generally unable to cover their costs; and second, the rating shows some predictive power over a one-year period. |
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