Fletcher, J.E. and Marshall, A.P. (2008) Is international trust performance predictable over time? A note. Accounting and Finance, 48 (1). pp. 123-132. ISSN 0810-5391Full text not available in this repository. (Request a copy from the Strathclyde author)
We examine whether past return measures have any significant predictive ability for future returns of UK unit trusts with international equity objectives. We find significant positive persistence between the past return performance of the trust relative to its investment sector and future trust returns relative to its sector. This result holds at short-run and long-run return horizons. The persistence is stronger in trusts that perform well relative to their sector. Our findings suggest that the past return performance of the trust relative to their sector provides a useful guide to future return performance relative to their sector.
|Keywords:||performance persistence, international unit trusts, investment sector, G10, G12, Accounting, Finance, Accounting, Economics, Econometrics and Finance (miscellaneous)|
|Subjects:||Social Sciences > Commerce > Accounting|
|Department:||Strathclyde Business School > Accounting and Finance|
|Depositing user:||Strathprints Administrator|
|Date Deposited:||07 Aug 2009 08:58|
|Last modified:||22 Mar 2017 10:10|