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Herrmann, U., Rohleder, M., & Scholz, H. (2016). Does Style-Shifting Activity Predict Performance? Evidence from Equity Mutual Funds. The Quarterly Review of Economics and Finance, 59, 112-130.
https://doi.org/10.1016/j.qref.2015.03.003

has been cited by the following article:

• TITLE: Style Consistency and Mutual Fund Returns: A Case of Russia

  AUTHORS: Bayarmaa Adiya

  KEYWORDS: Mutual Funds, Style Consistency, Performance, Russia

  JOURNAL NAME: Technology and Investment, Vol.15 No.4, October 30, 2024

  ABSTRACT: This paper carries out style analysis for Russian mutual funds using monthly data from the National Managers’ Association over the period of January 2008-December 2017; specifically, it applies the RSBA method developed by Sharpe (1992) for evaluating the impact of style on returns and uses the Style Drift Score (SDS) introduced by Idzorek and Bertsch (2004) as a measure of a fund’s style drifting activity. The main findings can be summarized as follows. In the Russian case, there is a significant positive relationship between style consistency and profitability of funds. Further, Russian funds are characterized by a high level of style drift, namely deviations from the investment strategy declared at the time of registration as required by Russian law.