La persistance de la performance des fonds de pension individuels britanniques:une étude empirique sur des fonds investis en actions et des fonds obligataires
(VF)Cet article propose d'étudier la stabilité des performances de certains fonds de retraite anglais. Nos résultats montrent que les fonds investis en actions sont caractérisés par une réversion de leurs performances alors que les fonds obligataires connaissent une certaine pérennité dans leurs performances. Cependant, les deux types de fonds voient les performances des fonds les meilleurs persister. Les performances passées des fonds les meilleurs fournissent donc une information sur leurs performances futures.(VA)This paper proposes to explore the consistency of performance of some UK defined contributions pension funds:the Personal Pension Scheme. Our results show evidence of performance reversion for domestic equity funds and performance persistence for fixed-income funds. Nonetheless, the best pension funds in both categories are characterized by consistency of their performance. Past performance of the best funds provides information about their future performance.
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