Title: Determinants of Turkish fund managers' performance

Authors: Omar Masood, Chris Stewart, Naif Sultan

Addresses: Business School, University of East London, Docklands Campus, University Way, E16 2RD, UK. ' London Metropolitan Business School, London Metropolitan University, 84 Moorgate, London, EC2M 6SQ, UK. ' London Metropolitan Business School, London Metropolitan University, 84 Moorgate, London, EC2M 6SQ, UK

Abstract: Using original survey data collected by the authors in 2005 we investigate the determinants of Turkish fund managers| performance as measured by the number of clients that a fund manager has, the number of investment funds that the manager is responsible for and the size of the manager|s portfolio. All three measures of Turkish fund manager performance systematically vary with fund manager characteristics. This is consistent with Chevalier and Ellison|s (1999) finding for the USA that some managers are better than others. Further, the number of training courses attended by a manager and years of experience are found to positively influence all three measures of performance.

Keywords: Turkish fund managers; fund manager performance; ordered choice models; Turkey; investment funds; portfolio size; client numbers; training courses; performance measures.

DOI: 10.1504/IJMEF.2009.023064

International Journal of Monetary Economics and Finance, 2009 Vol.2 No.1, pp.26 - 43

Published online: 08 Feb 2009 *

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