Ph.D Student,
Most of the research evidence in Indian mutual fund industry revolves around performance evaluation but very little research is evident in the field of market timing and stock selection. With plethora of investment schemes available to Indian mutual fund investor, it becomes necessary to assess not only their performance but its attributes too. This paper highlights the stock selection and market timing abilities of mutual fund managers by using conditional and unconditional models. The conceptual study discusses the comparison between traditional and conditional model for assessing the presence of market timing and stock selection ability. This paper attempts to distinguish the timing ability of mutual fund manager on the basis of public and private information. The paper limits its discussion to performance evaluation of equity portfolios only.
