{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,10,13]],"date-time":"2026-10-13T07:49:21Z","timestamp":1791877761316,"version":"4.3.4"},"posted":{"date-parts":[[2026]]},"group-title":"SSRN","reference-count":0,"publisher":"Elsevier BV","license":[{"start":{"date-parts":[[2026,1,1]],"date-time":"2026-01-01T00:00:00Z","timestamp":1767225600000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/www.uspto.gov\/ip-policy\/copyright-policy\/copyright-basics"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"abstract":"<jats:p>Working paper, Swiss Institute of Banking and Finance, University of St.Gallen, June 1999. Previously circulated without public access. Posted here to provide a citable version. The paper has not been updated since. \n&lt;div&gt;\n Using a sample of 333 European equity mutual funds, we show that persistence in risk-adjusted returns is present in funds with investment objective European equity. We demonstrate that persistence is neither caused by Fama\/French (1996) related anomalies nor disappears if we correct for the European momentum effect documented in Rouwenhorst (1998). Persistence is not induced by mutual fund style related issues either, since we control for style issues using the Sharpe (1992) Asset Class Factor model. We find evidence in favour of persistent performance to be a robust phenomenon not very sensitive to different methodologies for testing persistence or adjusting for risk.\n&lt;\/div&gt;<\/jats:p>","DOI":"10.2139\/ssrn.7600318","type":"posted-content","created":{"date-parts":[[2026,10,13]],"date-time":"2026-10-13T07:29:39Z","timestamp":1791876579000},"source":"Crossref","is-referenced-by-count":0,"title":["Performance Persistence: Evidence for the European Mutual Funds Market"],"prefix":"10.2139","author":[{"given":"Andreas","family":"Gr\u00fcnbichler","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Ulf","family":"Pleschiutschnig","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"78","container-title":[],"original-title":[],"deposited":{"date-parts":[[2026,10,13]],"date-time":"2026-10-13T07:29:56Z","timestamp":1791876596000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.ssrn.com\/abstract=7600318"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2026]]},"references-count":0,"URL":"https:\/\/doi.org\/10.2139\/ssrn.7600318","relation":{},"subject":[],"published":{"date-parts":[[2026]]},"subtype":"preprint"}}