The performance of UK investment trusts

被引:5
作者
Bal, Y [1 ]
Leger, LA [1 ]
机构
[1] LOUGHBOROUGH UNIV TECHNOL,DEPT ECON,LOUGHBOROUGH LE11 3TU,LEICS,ENGLAND
关键词
D O I
10.1080/02642069600000007
中图分类号
C93 [管理学];
学科分类号
12 ; 1201 ; 1202 ; 120202 ;
摘要
The Performance of 92 UK investment trusts was analysed over the period 1975 to 1993 using the Sharpe Treynor and Jensen measures of portfolio performance. A very high degree of correlation was found between the measures. Even without correction for transactions costs funds did nor on average outperform the market, although a few individual funds appeared to do so, Fund rankings by the Sharpe measure showed significant intertemporal persistence, especially in the income-producing group of funds, which needs further investigation.
引用
收藏
页码:67 / 81
页数:15
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