The performance of UK international unit trusts

Jonathan Fletcher; Andrew P. Marshall

doi:10.1111/j.1354-7798.2005.00288.x

The performance of UK international unit trusts

Jonathan Fletcher, Andrew P. Marshall

Accounting And Finance

Research output: Contribution to journal › Article › peer-review

5 Citations (Scopus)

Abstract

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.

Original language	English
Pages (from-to)	365-386
Number of pages	21
Journal	European Financial Management
Volume	11
Issue number	3
DOIs	https://doi.org/10.1111/j.1354-7798.2005.00288.x
Publication status	Published - Jun 2005

Keywords

performance
unit trusts
UK

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10.1111/j.1354-7798.2005.00288.x

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KW - unit trusts

KW - UK

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DO - 10.1111/j.1354-7798.2005.00288.x

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EP - 386

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The performance of UK international unit trusts

Abstract

Keywords

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