帖子要沉了，有没有人回答我啊~~

A mutual fund investing primarily in the securities of a particular industry, sector, type of security or geographic region. Because of the lack of diversification, specialized funds have higher risk but potentially higher reward than most other types of mutual funds.

In perspective of APT, specialized mutual funds may have higher coefficients for certain risk exposures and pretty small ones for others, so generally speaking, I can't see any predictive power of APT for the performance of these  funds.

Would you please provide more context information?

wesker1999  金钱 +50  奖励 2008-12-28 18:23:51

非常感谢你的回答啊，原题的信息只有这么多，不过看了你的回答确实给了我一些启发，非常感谢~

For a second thought, I think since specialized mutual funds don't diversify their portfolio, they should have big alpha terms, in that case, APT would definitely be less predictive.

再次感谢你的回答~