Do AI-powered mutual funds perform better?

被引：9
|
作者：
Chen, Rui [1 ]
Ren, Jinjuan [1 ]
机构：
[1] Univ Macau, Fac Business Adm, Ave Univ, Taipa, Macao, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2022年 / 47卷
关键词：
Artificial intelligence; Mutual fund performance; Behavioral biases; HEDGING DERIVATIVE SECURITIES; NEURAL-NETWORKS; TECHNICAL ANALYSIS; RULES;
D O I：
10.1016/j.frl.2021.102616
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We evaluate the performance of artificial intelligence (AI)-powered mutual funds. We find that these funds do not outperform the market per se. However, a comparison shows that AI-powered funds significantly outperform their human-managed peer funds. We further show that the outperformance of AI funds is attributable to their lower transaction cost, superior stock-picking capability, and reduced behavioral biases.
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页数：7
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