{"id":{"repo_id":"cape-town","oai_identifier":"oai:open.uct.ac.za:11427/16662"},"canonical_url":"https://search.dev.ndltd.org/etd/cape-town/oai:open.uct.ac.za:11427/16662","repository":{"repo_id":"cape-town","name":"University of Cape Town","base_url":"https://open.uct.ac.za/oai/request"},"display":{"title":"The prima facie relationship between size of assets under management and the risk-adjusted performance of South African collective investment schemes","abstract":"There is a plethora of academic literature on the relationship between a collective investment scheme's (or mutual fund) size and its risk-adjusted performance but the research has produced contradictory results with no apparent consensus. Data from a sample size of 100 (one hundred) collective investment schemes in the Association for Savings and Investments (South Africa) (\"ASISA\"), SA Equity General Fund classification group over a 10 (ten) year period was analysed using regression techniques and ranking analysis to examine whether there was any prime facie relationship between the fund size and the risk-adjusted performance of South African collective investment schemes. The regression analysis found no statistically significant correlation between fund size and risk-adjusted performance. However, the results of the ranking analysis suggested a possible inverted U-Shape relationship between collective investment scheme fund size and risk-adjusted performance. This therefore presents an argument for an optimal fund size range of between R912,267,649.3 and R1,930,696,676 (about 1 - 2 billion Rand) in assets under management to maximise risk-adjusted performance.","abstract_html":"There is a plethora of academic literature on the relationship between a collective investment scheme's (or mutual fund) size and its risk-adjusted performance but the research has produced contradictory results with no apparent consensus. Data from a sample size of 100 (one hundred) collective investment schemes in the Association for Savings and Investments (South Africa) ("ASISA"), SA Equity General Fund classification group over a 10 (ten) year period was analysed using regression techniques and ranking analysis to examine whether there was any prime facie relationship between the fund size and the risk-adjusted performance of South African collective investment schemes. The regression analysis found no statistically significant correlation between fund size and risk-adjusted performance. However, the results of the ranking analysis suggested a possible inverted U-Shape relationship between collective investment scheme fund size and risk-adjusted performance. This therefore presents an argument for an optimal fund size range of between R912,267,649.3 and R1,930,696,676 (about 1 - 2 billion Rand) in assets under management to maximise risk-adjusted performance.","abstract_has_math":false,"creators":["Kopke, Kerry-Leigh Elizabeth"],"institution":"Department of Finance and Tax","degree_name":null,"degree_level":null,"degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":["West, Darron"],"committee_chairs":[],"committee_members":[],"year":2015,"date_issued":"2015","date_published":"2015","updated_at":"2026-07-22T22:23:02Z","subjects":[],"languages":["eng"],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"http://hdl.handle.net/11427/16662","outbound_label":"Handle","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.advisor","label":"Advisor","values":["West, Darron"]},{"key":"dc:creator","label":"Author","values":["Kopke, Kerry-Leigh Elizabeth"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2016-02-01T10:17:16Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2016-02-01T10:17:16Z"]},{"key":"dc:date.issued","label":"Date","values":["2015"]},{"key":"dc:publisher.department","label":"Dc Publisher Department","values":["Department of Finance and Tax"]},{"key":"dc:publisher.institution","label":"Dc Publisher Institution","values":["University of Cape Town"]},{"key":"dc:type","label":"Dc Type","values":["Master Thesis"]},{"key":"dc:type.qualificationlevel","label":"Dc Type Qualificationlevel","values":["Masters"]},{"key":"dc:type.qualificationname","label":"Dc Type Qualificationname","values":["MCom"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language.iso","label":"Language (ISO)","values":["eng"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["http://hdl.handle.net/11427/16662"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["Includes bibliographical references"]},{"key":"dc:description.abstract","label":"Abstract","values":["There is a plethora of academic literature on the relationship between a collective investment scheme's (or mutual fund) size and its risk-adjusted performance but the research has produced contradictory results with no apparent consensus. Data from a sample size of 100 (one hundred) collective investment schemes in the Association for Savings and Investments (South Africa) (\"ASISA\"), SA Equity General Fund classification group over a 10 (ten) year period was analysed using regression techniques and ranking analysis to examine whether there was any prime facie relationship between the fund size and the risk-adjusted performance of South African collective investment schemes. The regression analysis found no statistically significant correlation between fund size and risk-adjusted performance. However, the results of the ranking analysis suggested a possible inverted U-Shape relationship between collective investment scheme fund size and risk-adjusted performance. This therefore presents an argument for an optimal fund size range of between R912,267,649.3 and R1,930,696,676 (about 1 - 2 billion Rand) in assets under management to maximise risk-adjusted performance."]},{"key":"dc:title","label":"Title","values":["The prima facie relationship between size of assets under management and the risk-adjusted performance of South African collective investment schemes"]}]}],"canonical_facts":{"dc:contributor.advisor":["West, Darron"],"dc:creator":["Kopke, Kerry-Leigh Elizabeth"],"dc:date.accessioned":["2016-02-01T10:17:16Z"],"dc:date.available":["2016-02-01T10:17:16Z"],"dc:date.issued":["2015"],"dc:description":["Includes bibliographical references"],"dc:description.abstract":["There is a plethora of academic literature on the relationship between a collective investment scheme's (or mutual fund) size and its risk-adjusted performance but the research has produced contradictory results with no apparent consensus. Data from a sample size of 100 (one hundred) collective investment schemes in the Association for Savings and Investments (South Africa) (\"ASISA\"), SA Equity General Fund classification group over a 10 (ten) year period was analysed using regression techniques and ranking analysis to examine whether there was any prime facie relationship between the fund size and the risk-adjusted performance of South African collective investment schemes. The regression analysis found no statistically significant correlation between fund size and risk-adjusted performance. However, the results of the ranking analysis suggested a possible inverted U-Shape relationship between collective investment scheme fund size and risk-adjusted performance. This therefore presents an argument for an optimal fund size range of between R912,267,649.3 and R1,930,696,676 (about 1 - 2 billion Rand) in assets under management to maximise risk-adjusted performance."],"dc:identifier.uri":["http://hdl.handle.net/11427/16662"],"dc:language.iso":["eng"],"dc:publisher.department":["Department of Finance and Tax"],"dc:publisher.institution":["University of Cape Town"],"dc:title":["The prima facie relationship between size of assets under management and the risk-adjusted performance of South African collective investment schemes"],"dc:type":["Master Thesis"],"dc:type.qualificationlevel":["Masters"],"dc:type.qualificationname":["MCom"]},"updated_at":"2026-07-22T22:23:02Z"}