This article examines performance persistence using a population of 15534 US variable annuities funds from the period 2010 to 2020. The population is free from survivorship, self-selection and backfill bias. We find evidence of long-term managerial positive persistence.
Private equity performance databases have obvious and significant value. But their increased use among investors for benchmarking PE funds has numerous pitfalls that may lead investors to distorted conclusions. This paper discusses how investors can overcome the challenges posed by the biases and data inconsistences inherit…
The authors propose a practical technique to correct for survivorship bias across return distributions for investment product universes. The technique is designed to work efficiently in a large-scale performance measurement environment. It uses all available data for survivors and non-survivors, corrects for bias across the…
The S&P Indices Versus Active (SPIVA) Latin America scorecard compares the performance of actively managed mutual funds in Brazil, Chile, and Mexico to their benchmarks over 1, 3, 5, and 10-year periods.