Krueger, Thomas M.; Callaway, Richard F.
July 1995
Journal of Financial Planning;Jul95, Vol. 8 Issue 3, p136
Academic Journal
This study examines the performance of aggressive growth, growth, and equity-income mutual funds in two consecutive three-year periods, using a variety of performance measures. Fund performance was consistent with the descriptions of fund types. On average, aggressive-growth funds were the riskiest and had the highest mean returns, while equity-income funds were the least risky and provided the lowest returns. Fund performance was found to vary by time period. The results of the first three-year period proved of little use in predicting the results of the second three-year period. The null hypothesis of independence between performance in each period could not be rejected.


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