Differential Impact of Frequency of Data on Performance of Mutual Funds: Evidence of Pakistan

Abstract

The objective of this study is to analyze the differential impact of the frequency of data performance in Pakistan. The sample was selected of 91 mutual funds in which 37 were Islamic mutual funds Samples while the remaining 54 mutual funds samples were conventional mutual funds. Monthly and Daily data return were taken from the period of 2009-2019. The study covers data-set of daily and monthly based on Net Asset Value (NAV) and we construct a portfolio of Islamic mutual funds and conventional mutual funds is based on return. The method that we used is the performance Jensen Alpha measurement. The Jensen Alpha measurement shows that Islamic mutual funds daily returns are superior performance than Islamic mutual funds comparatively in monthly return .The conventional mutual funds have also better daily performance than in monthly data return performance. The overall result shows that the daily return of Islamic and conventional mutual funds performance is better than the monthly return.