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Regular version of the site

Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Ekaterina Polezhaeva
Performance Evaluation of Russian Mutual Fund Managers Based on Value Added Indicator
Finance
(Master’s programme)
8
2018
Today, investing in mutual funds is quite popular method of savings increase. In this scientific paper it is shown, whether you can consider managers’ intellectual capital as a reliable source of information, which allows you to choose the manager to trust him your investments. The question of whether managers have skills still remains open. The study that showed the presence of such abilities used the calculation of new parameter, generated value. The calculation of this indicator allowed to carry out a regression analysis to identify which characteristics manager, who has the ability to achieve high results, should have. According to the analysis, the mutual fund manager, who has got technical and economic education, has a long experience in the field, but brief tenure with the company, without foreign certificates and administrative position, with a lot of funds under management, creates the greatest value added. In addition, the average meaning of this indicator among managers, who publish information about themselves, indicates the presence of skills among Russian managers. However, it should be taken into account that the tendency of information disclosure is observed only for large funds employees. Thus, the calculation of value added for all Russian mutual funds may show a different result. This kind of research was not conducted before. The findings of this investigation will be useful for both investors and management companies that hire managers.

Keywords: mutual funds, managers’ personal qualities, managers’ skills, value added.

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