Net performance and alpha of EU equity mutual funds: a cross-country analysis

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dc.contributor.authorMešťan, Michal
dc.contributor.authorŠčerba, Kamil
dc.contributor.authorIštok, Michal
dc.contributor.authorŠafár, Leoš
dc.contributor.authorSopko, Jakub
dc.date.accessioned2026-04-24T07:11:18Z
dc.date.available2026-04-24T07:11:18Z
dc.date.issued2026
dc.descriptionIn: International Journal of Science and Research. Raipur : Rajesh K. Deshmukh, 2026. ISSN 2319-7064. Vol. 15, no. 2 (2026), pp. 499-505.
dc.description.abstractThis paper examines whether equity mutual funds domiciled across European Union countries deliver systematically different outcomes for individual investors. Using a cross-country dataset, we analyze performance through quarterly fund returns and benchmark-adjusted alpha, focusing on full distributions rather than averages. Results show that raw returns differ across countries, with larger markets exhibiting more stable distributions and smaller or peripheral markets displaying higher volatility and downside risk. After adjusting for benchmarks, however, cross-country differences compress markedly. Alpha distributions cluster around zero, indicating that persistent outperformance is uncommon. A small group of Northern and core countries shows a slightly higher incidence of positive alpha, though effects remain modest. Overall, findings suggest that EU quity mutual funds can generate positive returns, but consistent market beating is rare and concentrated. Common market exposure and implementation costs dominate investor outcomes, implying that country domicile matters less for alpha than for raw return volatility across markets.
dc.identifier.doihttps://dx.doi.org/10.21275/SR26205192135
dc.identifier.issn2319-7064
dc.identifier.urihttps://repo.umb.sk/handle/123456789/1419
dc.language.isoen
dc.publisherRajesh K. Deshmukh : Raipur
dc.rightsCC BY Creative Commons Attribution 4.0. International
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subjectpodielové fondy
dc.subjectmutual funds
dc.subjectvýnosy
dc.subjectrevenues
dc.subjecthodnotenie výkonnosti
dc.subjectperformance evaluation
dc.titleNet performance and alpha of EU equity mutual funds: a cross-country analysis
dc.typeArticle
dc.typeinfo:eu-repo/semantics/article

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