Investigating performance benchmarks in the context of international trusts: Australian evidence
AbstractIn the context of international funds, investigations have been made of a range of performance models including both domestic and international market index benchmarks and distinguishing selectivity and timing performance. A sample of Australian international equity trusts are examined over the period 1990 to 1999. Generally, findings confirm the widely held belief that funds are unable to time the market and that there is an inverse relationship between market timing and selectivity performance. Importantly however, it is found that the choice of index does have an impact on results, particularly at the individual fund level.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Financial Economics.
Volume (Year): 14 (2004)
Issue (Month): 9 ()
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