& Imperatore, 2014) Managers’ risk preference (Sutton, 1988) Meet or beat the expectations of financial analysts (Zang, 2012; Matsumoto, 2002) Stock –financed acquisitions (Cohen & Zarowin, 2010) Political

Mutual Funds - Ratanabanchuen & Saengchote © Four Stylized Facts about Open-Ended Equity Mutual Funds in Thailand 1. Most funds do not beat the market, whether it is raw or risk-adjusted returns. 2. Most

ease this pressure, and with the upward trend in prices, we will continue to expect healthy margins.” 2. Outlook Overall Thai economic activity in the first quarter of 2018 beat expectations with an

livelihoods and increase prosperity Ensuring environmental stewardship towards a zero-carbon society We are committed to preserving and reducing the impact of climate change B e a B a n k o f S u s t a i n a b

and up 47% for LTM 2Q17  Core EPS up 30% in 2Q17 and up 83% for LTM 2Q17 Management is also pleased to note that 3Q17 is on track to beat year-on-year (YoY) and sequentially (QoQ) in favorable market

Announcement of RML big lot of 250mn shares, selling from Thai Prosperity Fund, the 2nd largest shareholder, to Country Group Holding Plc. at average price of THB 1.10. The changes of the shareholders did not

fund managers have negative selectivity and timing abilities. 10 Around one-third of Thai equity trigger funds beat the market. 11 -30% -20% -10% 0% 10% 20% 30% 0 6 12 18 24 30 36 Continuing (N = 66

the Company’s prosperity in the near future.

, Prosperity, Sustainability” goals. The SEC will take into account the interests of stakeholders, society and the environment to develop a sustainable capital market in support of a strong national economy for

are tax-privileged, we document several interesting facts. 2 First, most open-ended equity mutual funds in Thailand do not beat the market, whether it is raw or risk-adjusted returns. Second, while 94