dc.contributor.author | Sallah, Geoffrey | |
dc.date.accessioned | 2013-05-15T06:29:15Z | |
dc.date.available | 2013-05-15T06:29:15Z | |
dc.date.issued | 2006 | |
dc.identifier.citation | MBA | en |
dc.identifier.uri | http://erepository.uonbi.ac.ke:8080/xmlui/handle/123456789/22775 | |
dc.description | Master of Business Administration (MBA) | en |
dc.description.abstract | The Study exammes and compares portfolio mean return differentials between
Active and Passive portfolio management styles/strategies at the Nairobi Stock
Exchange (NSE) from April 1996 to December 2001; and determines whether there
is a management style that dominates over the other in terms of return performance.
This is determined by modelling past performance of actively and passively managed
portfolios over the period of study.
NSE 20 share index constituent securities were used as surrogate for passively
managed portfolio, and top 5 and bottom 5 securities in terms of Price Earnings (P/E)
ratio as surrogate for actively managed portfolio. PIE ratio was used to pick
securities included in top 5 and bottom 5 securities during the monthly rebalancing
of actively managed portfolio.
Without factoring in transaction cost, and adopting sensitivity analysis approach and
paired t-test at different confidence levels of 90%, 95% and 99%, the study indicates
that there is no significant mean return difference between active portfolio
management style and passive portfolio management style; hence an investor can opt
for any of the portfolio management styles in Nairobi Stock Exchange. | en |
dc.language.iso | en | en |
dc.publisher | University of Nairobi | en |
dc.title | Portfolio Returns Using Different Portfolio Management Styles at the Nairobi Stock Exchange | en |
dc.type | Thesis | en |
local.publisher | School of Business, University of Nairobi | en |