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Performance persistence: The case of Colombia’s pension and severance pay funds

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Academic year: 2020

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table  1  shows  the  different  beginning  and  ending dates for the funds in the sample, the  majority of which are from 2004 to 2008
table  3  presents  the  results  of  the  bino- bino-mial  test  for  persistence  of  winner  and  loser  funds
Table 3. two-period persistence tests for winner and loser funds (raw and style-adjusted returns) Panel A
Table 4. Three-period persistence tests (raw and risk-adjusted returns) Panel A. raw weekly returns
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