The historical tendency of equity mutual funds to have a lower average return than the market may indicate the market is __________ form efficient.

Question

Quizplus · Accepted Answer

The historical tendency of equity mutual funds to have a lower average return than the market suggests that all publicly available information (which mutual funds use to make investment decisions) is already reflected in stock prices, indicating the market is semistrong form efficient.

The Historical Tendency of Equity Mutual Funds to Have a Lower