Analysis of mutual fund performance before and after financial crisis using false discoveries method

Abstract

This Master thesis analyses the performance of mutual funds controlling for snooping bias using the method of false discoveries. Mutual fund performance for both EU and US open-end funds is examined during different time periods, focusing especially on period before financial crises and after financial crisis. Findings show that there is a strong impact of luck on the mutual fund performance and that only very few funds show true managerial skills.