Survivorship bias and comparability of UK open-ended fund databases
Maxim, Z., Garrett, Q., Bernd, H. & Keswani, A. 
ORCID: 0000-0001-9096-7677 (2018).
Survivorship bias and comparability of UK open-ended fund databases.
Economics Letters, 172,
pp. 110-114.
doi: 10.1016/j.econlet.2018.08.027
Abstract
In this paper, we compare returns contained in two widely used databases of UK unit trusts: Morningstar and S&P Micropal. Considering funds for which both sources have data, differences in returns between the databases are considerable and often of sufficient magnitude that they should be of significant concern to researchers. Such data inconsistencies frequently lead to material differences in performance measurement results. We believe that the observed differences raise serious issues with regard to the comparability of results and conclusions of performance studies of UK funds that use different data sets.
| Publication Type: | Article |
|---|---|
| Additional Information: | © 2018 Elsevier B. V. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/ |
| Publisher Keywords: | Unit trusts, Survivorship bias, Data quality |
| Subjects: | H Social Sciences > HG Finance Z Bibliography. Library Science. Information Resources > ZA Information resources > ZA4450 Databases |
| Departments: | Bayes Business School > Finance |
| SWORD Depositor: |
Available under License Creative Commons Attribution Non-commercial No Derivatives.
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