The Profile of a Polish Mutual Fund Manager

• Autorzy: Dariusz Filip
• Języki publikacji: EN

Abstrakty

EN

Aim/purpose - The purpose of this paper is to identify the characteristics that are typical of mutual fund managers. Design/methodology/approach - The study concentrates on a set of socio-demographic data, such as: age, gender, education, experience, and professional qualifications of 336 portfolio managers. The applied research strategy relies on an analysis concerning a set of statistical metrics describing the population under examination. Findings - The average Polish fund manager is a 37-year-old man, a holder of a stock-broker or investment adviser license. He obtained the authorization from the Polish Financial Supervision Authority (KNF) a few years after graduating from the Warsaw School of Economics (SGH). He has 11 years' experience in financial markets and 7 years' experience in the mutual fund industry. Research implications/limitations - The identification of managerial characteristics for the purpose of creating a profile of a Polish mutual fund manager will provide an important basis for further surveys and analyses aimed to evaluate the effectiveness of mutual funds. Originality/value/contribution - There are no investigations within the discussed area in Polish studies. Therefore, the identification of the characteristics that are typical of mutual fund managers will make a contribution to the finance literature.(original abstract)

Słowa kluczowe

EN

Broker; Efficiency of manager; Managerial qualifications; Investment funds; Portfolio management; Human capital

PL

Makler; Efektywność menedżera; Kwalifikacje menedżera; Fundusze inwestycyjne; Zarządzanie portfolio; Kapitał ludzki

• Czasopismo: Journal of Economics & Management / University of Economics in Katowice
• Rocznik: 2018
• Numer: nr 32
• Strony: 30--47

Twórcy

autor

Dariusz Filip

• Cardinal Stefan Wyszynski University in Warsaw, Poland

Bibliografia

• Bera, A. K., & Jarque, C. (1980). Efficient test for normality, heteroscedasticity and serial independence of regression residuals. Economic Letters, 6(3), 255-259. doi: 10.1016/0165-1765(80)90024-5
• Asyngier, R., & Miziołek, T. (2017). Impact of fund managers changes on Polish equity funds performance. Folia Oeconomica Stetinensia, 17(1), 97-108. doi: 10.1515/foli-2017-0008
• Bliss, R. T., & Potter, M. E. (2002). Mutual fund managers. Does gender matter? The Journal of Business and Economic Studies, 8(1), 1-15.
• Carhart, M. (1997). On persistence in mutual fund performance. Journal of Finance, 52(1), 57-82. doi: 10.1111/j.1540-6261.1997.tb03808.x
• Chevalier, J. A., & Ellison, G. (1999a). Are some mutual fund managers better than others? Cross-sectional patterns in behavior and performance. Journal of Finance, 54(3), 875-899. doi: 10.1111/0022-1082.00130
• Chevalier, J. A., & Ellison, G. (1999b). Career concerns of mutual fund managers. The Quarterly Journal of Economics, 114(2), 389-432. doi: 10.1162/003355399556034
• D'Agostino, R. B. (1971). An omnibus test of normality for moderate and large size samples. Biometrika, 58(2), 341-348. doi: 10.1093/biomet/58.2.341
• Filip, D. (2015). A review of research on the managerial factors influencing mutual fund performance. In A. Malina, R. Oczkowska, & J. Kaczmarek (Eds.), Knowledge - economy - society. In the development and challenges of modern economics, finance and information technology (pp. 175-182). Cracow: Foundation of the Cracow University of Economics.
• Filip, D. (2017). Umiejętności menedżerskie jako zasób instytucji zbiorowego inwestowania [Managerial skills as a resource of collective investment institutions]. In M. Pawlak (Ed.), Nowe tendencje w zarządzaniu (Tom VII) [New tendencies in management (Vol. VII)] (pp. 231-240). Lublin: Wydawnictwo KUL.
• Filip, D., Jackowicz, K., & Kozłowski, Ł. (2017). Influence of internet and social media presence on small, local banks' market power. Baltic Journal of Economics, 17(2), 190-214. doi: 10.1080/1406099X.2017.1376856
• Goetzmann, W. N., & Ibbotson, R. G. (1994). Do winners repeat? The Journal of Portfolio Management, 20(2), 9-18. doi: 10.3905/jpm.1994.9
• Golec, J. H. (1996). The effects of mutual fund managers' characteristics on their portfolio performance, risk and fees. Financial Services Review, 5(2), 133-147. doi: 10.1016/S1057-0810(96)90006-2
• IZFA. (2017). Annual reports on the FI market. Retrieved from www.izfa.pl
• Lee, J.-S., Yen, P. H., & Chen, Y.-J. (2008). Longer tenure, greater seniority, or both. Evidence form open-end equity mutual fund managers in Taiwan. Asian Academy of Management Journal of Accounting and Finance, 4(2), 1-20.
• Lewellen, A., Lease, R., & Schlarbaum, G. (1977). Patterns of investment strategy and behavior among individual investors. The Journal of Business, 50(3), 296-333. doi: 10.1086/295947
• Niessen, A., & Ruenzi, S. (2006). Sex matters. Gender and mutual funds. CFR-Working Paper No. 06-01. Cologne: Centre for Financial Research (CFR).
• Nosakhare, U.H., & Bright, A.F. (2017). Statistical analysis of strength of W/S test of normality against non-normal distribution using Monte Carlo simulation. American Journal of Theoretical and Applied Statistics, 6(5-1), 62-65.
• Perez, K. (2012). Efektywność funduszy inwestycyjnych. Podejście techniczne i fundamentalne [The effectiveness of mutual funds. A technical and fundamental approach]. Warszawa: Difin.
• Philpot, J., & Peterson, C. A. (2006). Manager characteristics and real estate mutual fund returns, risk and fees. Managerial Finance, 32(12), 988-996. doi: 10.1108/03074350610710481
• Poole, B. S., Bianco, C. A., & Giroux C. (2006). Mutual fund management and fund performance. Journal of Business & Economics Research, 4(1), 1-4. doi: 10.19030/jber.v4i1.2621
• Porter, G., & Trifts, J. (1998). Performance persistence of experienced mutual fund managers. Financial Services Review, 7(1), 57-68. doi: 10.1016/S10570810(99)80013-4
• Shukla, R., & Singh, S. (1994). Are CFA charterholders better equity fund managers? Financial Analysts Journal, 50(6), 68-74. doi: 10.2469/faj.v50.n6.68
• Volkman, D. A., & Wohar, M. E. (1995). Determinants of persistence in relative performance of mutual funds. Journal of Financial Research, 18(4), 415-430.

Identyfikatory

DOI

10.22367/jem.2018.32.03