Table IV Fund index factor regression...

Table IV

Fund index factor regression results

Variable	Coef	All	Balanced	Bond	EBond	Equity
α	Estimate	−0.0019	−0.0014	−0.0021	−0.0009	0.001
α	t-stat	−2.1705	−0.6021	−4.3941	−0.7283	0.4485
BAll	Estimate	0.2282	−0.4141	0.7838
BAll	t-stat	9.659	−6.5398	65.7824
BIST	Estimate	0.133	0.2991			0.9131
BIST	t-stat	24.8574	20.1607			70.0354
Bond91	Estimate	0.5505	1.1752	0.3297	0.082	−0.0807
Bond91	t-stat	6.7889	5.2033	7.1541	0.7571	−0.4183
EBond	Estimate	0.1304			0.8319
EBond	t-stat	11.5179			52.2845
	R²	0.8727	0.7044	0.9711	0.9382	0.9648

Variable	Coef	All	Balanced	Bond	EBond	Equity
α	Estimate	−0.0019	−0.0014	−0.0021	−0.0009	0.001
α	t-stat	−2.1705	−0.6021	−4.3941	−0.7283	0.4485
BAll	Estimate	0.2282	−0.4141	0.7838
BAll	t-stat	9.659	−6.5398	65.7824
BIST	Estimate	0.133	0.2991			0.9131
BIST	t-stat	24.8574	20.1607			70.0354
Bond91	Estimate	0.5505	1.1752	0.3297	0.082	−0.0807
Bond91	t-stat	6.7889	5.2033	7.1541	0.7571	−0.4183
EBond	Estimate	0.1304			0.8319
EBond	t-stat	11.5179			52.2845
	R²	0.8727	0.7044	0.9711	0.9382	0.9648

Notes: Dependent variable is AUM weighted fund category indices. BAll stands for BIST-KYD All Bonds index. BIST is BIST ALL Stocks Total Return Index that includes dividends. Bond91 is the short-term bond return index which is BIST-KYD 91 Day Bond Index and EBond is BIST-KYD USD Eurobond Index (in Turkish lira)

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