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A quantitative assessment of the Actively vs Passively managed debate, framed within the context of the Efficient Market Hypothesis

Kane, John (2018) A quantitative assessment of the Actively vs Passively managed debate, framed within the context of the Efficient Market Hypothesis. Masters thesis, Dublin, National College of Ireland.

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Abstract

The research into this topic is numerous and detailed both from an academic, as well as an industry participant viewpoint. Thus, the author wished to set his research apart and did so via a distinction in asset class and domicile. The majority of literature on the debate and hypothesis focus on single equities or indeed, equity indices, usually domiciled in the United States of America, and so the author choice to focus on a relative grey area, Euro denominated and focused, fixed income, retail collective investment schemes which were domiciled in Ireland and regulated by the Central Bank of Ireland.

The process and approach used to answer the research question and all subsequent objectives was that of a deductive process followed by the application of a positivist approach. The research determined that a link between the efficient market hypothesis and the active versus passive debate, and thus the testing and financial modelling undertaken herein was influenced by said linkage via design. The research sought to straddle the academic standard, while acting as a guide in respect of actual market participants. The dissertation subsequently concludes that while active investment funds do not statistically outperform passive investment funds, the research as a whole indicates that active investment management is a better investment proposition for investors than that of passive investment management.

Item Type: Thesis (Masters)
Subjects: H Social Sciences > HG Finance
H Social Sciences > HG Finance > Investment > Investment Companies. Investment Trusts. Mutual Funds.
Divisions: School of Business > Master of Science in Finance
Depositing User: CAOIMHE NI MHAICIN
Date Deposited: 30 Oct 2018 13:19
Last Modified: 30 Oct 2018 13:19
URI: http://trap.ncirl.ie/id/eprint/3358

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