Fund Manger’s Performance in Equity & Debt Schemes of Unit Trust of India

Abstract
The performance of mutual fund portfolios has been the subject of extensive examination in the literature of finance. Performance evaluation measures of this sort have typically employed a one-parameter risk-return benchmark like those developed by different scholars. Such investigations have effectively focused on fund managers’ security selection skills diversification etc. These are referred to as micro security selection skills. Apart from that portfolio manager’s performance might also achieve better performance in terms of return by engaging in successful macro market timing activities. A fund manager should be efficient enough to foresee these changes in the market, or other words, enter into transactions in the market at the most appropriate time. This is what is referred to as the timing ability of the fund manager. This paper also attempted to evaluate the market timing ability of the fund managers of UTI concerning its select schemes based on Treynor & Mazuy Hendrickson and Merton's method. For this purpose, the models developed and tested by experts have been made use of.
Keywords: Market Timing Ability, Fund Managers, Open and closed Schemes

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