Clare, Andrew; Cuthbertson, Keith; Nitzsche, Dirk; … - 2021
[We develop a performance evaluation model that incorporates the factors proposed by Huij and Derwall (2008) and a fund …-specific benchmark to analyse the performance of US fixed income funds. Using the full sample, and accounting for the possibility of … false discoveries we find fund management companies extract most of any abnormal performance produced by their fund managers …