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Kumar, Venkatesh
- Construction of Appropriate Benchmark Index for Mutual Funds: Specific Reference to Tax Saver Funds
Abstract Views :265 |
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Authors
Affiliations
1 Assistant Professor & HOD, Acharya Institute of Technology
2 Professor & HOD, Nitte Meenakshi Institute of Technology
1 Assistant Professor & HOD, Acharya Institute of Technology
2 Professor & HOD, Nitte Meenakshi Institute of Technology
Source
International Journal of Financial Management, Vol 2, No 1 (2012), Pagination: 74-90Abstract
Evaluating the performance of mutual funds in the light of increased competition has become more significant in the capital market. Proper identification of investment style and performance measurement of mutual funds have been analysed to facilitate the investment decisions of investors. The performance of mutual funds are analysed by considering various risk-related characteristics and also evaluated against the performance of a benchmark index that typically represent the investment style of the mutual funds. If the fund performance is evaluated against an inappropriate benchmark index then the augmentation derived from the analysis may not be appropriate. Hence, the prominent objective is to determine the appropriate Benchmark Index that consists of appropriate asset classes of securities pave the way for precise estimation. The study considers Tax Planning (Equity Linked Savings Scheme-ELSS) funds and selected indices of National Stock Exchange and Bombay Stock Exchange. The methodology focuses on estimating the risk adjusted abnormal return generated by the fund that exhibits the predictive ability (Jensen's Alpha) of the fund manager through Capital Asset Pricing Model (CAPM) and estimating the Tracking Error Volatility (TEV) of excess daily returns between fund and benchmark. The study revealed that broad based indices that consist of Large cap, Mid cap, and Small cap asset classes would be a appropriate benchmark for evaluating the performance of ELSS funds.Keywords
CAPM, ELSS, Fund performance, Jensen’s Alpha, TEV
References
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- Morey M R and O’Neal E S (2006), “Window Dressing in Bond Mutual Funds”, Journal of Financial Research, Vol.24 (3), pp: 325-347.
- Kumar N Venkatesh and Kumar B J Ashwini (2011), “Do Stock Market Drive the Performance of Mutual Funds: An Empirical Analysis with Specific Reference to Tax Saver Funds”, Global Journal of Finance and Management, Vol.3 (2), pp: 181-191.
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- DC-DC Converters Using a Boost-Half-Bridge Cell for Low-Voltage and Low-Power Applications
Abstract Views :168 |
PDF Views:2
Authors
Affiliations
1 E.G.S. Pillay Engineering College, Nagapattinam, IN
2 Department of Electrical and Electronics Engineering, E.G.S. Pillay Engineering College, Nagapattinam, IN
1 E.G.S. Pillay Engineering College, Nagapattinam, IN
2 Department of Electrical and Electronics Engineering, E.G.S. Pillay Engineering College, Nagapattinam, IN
Source
Digital Signal Processing, Vol 3, No 7 (2011), Pagination: 376-382Abstract
In this paper, Dc-Dc converters are proposed for low-voltage and low-power applications. A generalized converter is configured such that the boost-half-bridge (BHB) cells and voltage doublers are connected in parallel or in series to decrease the output voltage and/or the output power. In addition to reduced device voltage and current ratings by the connection, the proposed converter has the following features: high-step-up voltage gain with significantly reduced transformer turn ratio, high input current ripple due to interleaving effect, zero-voltage switching turn-ON of switches and zero-current switching turn-OFF of diodes, no additional clamping and start-up circuits required, high component availability and easy thermal distribution due to the use of multiple small components, and flexibility in device selection resulting in optimized design. A design guideline of determining the optimum circuit configuration for given output voltage and power level is presented.Keywords
Active Clamping, Boost-Half-Bridge (BHB), High Step-Up, Multiphase, Soft-Switched.- Electronically Tunable LC High Pass Ladder Filter Using OTRA
Abstract Views :151 |
PDF Views:0
Authors
Affiliations
1 Department of Electronics and Communication Engineering, Delhi Technological University, IN
1 Department of Electronics and Communication Engineering, Delhi Technological University, IN
Source
ICTACT Journal on Microelectronics, Vol 3, No 3 (2017), Pagination: 446-451Abstract
This paper presents Operational trans-resistance (OTRA) based electronically tunable high pass L-C based ladder filter. The proposed high pass filter is designed by following a systematic approach using leap frog simulation for ladder filters. The cut-off frequency of the proposed filter can be varied with the application of appropriate voltages to the gate of MOSFETs hence making the design electronically tunable. Therefore, it can be used for RF applications at 455kHz and 1MHz (intermediate frequencies for RF applications). Performance of the proposed circuit is verified through SPICE simulations employing a 0.5μm MOSIS AGILENT CMOS realization of OTRA.Keywords
OTRA, High Pass Filter, Tunable.References
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