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Winners and losers: German equity mutual funds

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Academic year: 2019

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Figure

Figure 1: Kernel Density: Alpha in 3F and 3F+TM Models
Figure 2.  Winner Funds: Alpha versus Total Performance  (3F+TM Model)
Figure 3.  Loser Funds: Total Performance (3F+TM Model)
Table 1: Summary Statistics: Funds and Management Fees
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