Fletcher, Jonathan and Marshall, Andrew P. (2005) The performance of UK international unit trusts. European Financial Management, 11 (3). pp. 365-386. ISSN 1354-7798Full text not available in this repository. (Request a copy from the Strathclyde author)
We evaluate the performance of UK unit trusts with international equity objectives between January 1985 and December 2000 relative to domestic benchmark strategies. We use performance measures based on Jensen (1968), Ferson and Schadt (1996), and the Chen and Knez (1996) law of one price (LOP). We find more favourable trust performance using the Jensen and Ferson and Schadt measures relative to the LOP measure. There is evidence of inferior performance by some international trusts using the unconditional LOP measure. The charges and investment sector of the trust also has an impact on the performance of the trusts using the LOP measure.
|Keywords:||performance, unit trusts, UK, Finance, Economics, Econometrics and Finance(all), Accounting|
|Subjects:||Social Sciences > Finance|
|Department:||Strathclyde Business School > Accounting and Finance|
|Depositing user:||Strathprints Administrator|
|Date Deposited:||06 Jul 2007|
|Last modified:||31 Aug 2016 00:03|