What Does Turnover Tell Us?

Riepe, Mark W.
November 1999
Journal of Financial Planning;Nov99, Vol. 12 Issue 9, p42
Academic Journal
This article presents a study on investment about the impact of turnover on equity mutual funds. The results are based on statistical analyses of historical data. It's worth mentioning that any study of this sort may not find a variable such as turnover to be important for any number of reasons. It could be that there is a relationship, but the statistical tests were unable to detect the relationship because it is of a subtle nature. It could be that the period studied was unique in some way. However, even if turnover does not help the investor predict future performance, there are some insights to be gained from examining it and comparing turnover across funds. In particular, turnover is one quantifiable variable.


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