<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2448-718X</journal-id>
<journal-title><![CDATA[El trimestre económico]]></journal-title>
<abbrev-journal-title><![CDATA[El trimestre econ]]></abbrev-journal-title>
<issn>2448-718X</issn>
<publisher>
<publisher-name><![CDATA[Fondo de Cultura Económica]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-718X2010000200445</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[¿Es el desempeño de los fondos de inversión de Brasil un indicador de movimento futuro de su patrimonio?]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Baggio]]></surname>
<given-names><![CDATA[Daniel Knebel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ferruz Agudo]]></surname>
<given-names><![CDATA[Luis]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Marco Sanjuán]]></surname>
<given-names><![CDATA[Isabel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Zaragoza  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Spain</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de Zaragoza  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Spain</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidad de Zaragoza  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Spain</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2010</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2010</year>
</pub-date>
<volume>77</volume>
<numero>306</numero>
<fpage>445</fpage>
<lpage>471</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-718X2010000200445&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-718X2010000200445&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-718X2010000200445&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de este estudio es analizar la relación entre el desempeño y el aumento del patrimonio de los fondos de inversión de renta variable de Brasil. Para realizarlo, se han considerado 459 fondos (321 del IBOVESPA y 138 del IBX), durante un amplio horizonte temporal (de enero de 1997 a diciembre de 2006), cuyo comportamiento ha sido comparado por medio de sus resultados anuales, semestrales y trimestrales. Los fondos se han clasificado como ganadores o perdedores a través de la mediana de las rentabilidades y del crecimiento porcentual neto de su patrimonio, para desarrollar el estudio en dos fases. Inicialmente se contrasta la persistencia del desempeño y en seguida la relación entre el desempeño y el crecimiento patrimonial. A partir de la metodología paramétrica de las tablas de contingencia se evidencia la persistencia en el desempeño y la relación entre éste y los movimientos futuros de capital.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The aim of this study is to analyze the existing of the relationship between the performance and the increase of the patrimony of the Brazilian Equity Investment Funds. We used data from 459 funds, 321 of these from the IBOVESPA and 138 from the IBX, from 1997 to 2006, whose behavior has been compared across their annual, half-yearly and quarterly results. The Funds were classified as winner's funds or loser's funds by the average of the profitability's of the percentage growth of his patrimony. We developed this study in two phases: Initially the persistence of the performance is confirmed and later the relationship between the performance and the patrimony growth. From the contingency table, a parametric methodology, we can demonstrate the performance persistence and the relationship between the performance persistence and the future movements of capital.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[análisis de la persistencia]]></kwd>
<kwd lng="es"><![CDATA[fondos de inversión de Brasil]]></kwd>
<kwd lng="es"><![CDATA[análisis de comportamiento financiero]]></kwd>
<kwd lng="es"><![CDATA[tablas de contingencia en el análisis financiero]]></kwd>
</kwd-group>
</article-meta>
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