Mutual fund performance is of interest for theoreticians as well as for practitioners. Theoreticians want to know if markets are efficient, practitioners, if fund managers can systematically beat the markets. In this paper, we study French equity mutual funds from this double perspective. We find that their performance over the last five years does not allow to infer that markets are inefficient or that there is persistence in managers' performance.
AFTALION, F. (2000). Les performances des OPCVM Actions Françaises. In: Les journées internationales de l'Association Française de Finance 2000. Association Française de Finance (AFFI).