What does Jenson's Alpha measure in a mutual fund scheme?

Out-performance is measured by Jensen's Alpha. It shows the risk-adjusted return generated by a mutual fund scheme relative to the expected market return predicted by the Capital Asset Pricing Model (CAPM). Higher Alpha indicates that the portfolio performance has outstripped the returns predicted by the market.

Below are the performance measures for ICICI Prudential Value Discovery –Growth as on May 3, 2017.



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