- Title Pages
- List of Figures
- List of Tables
- Acknowledgments
- About the Editors
- About the Contributors
- Abbreviations
-
1 Mutual Funds and Related Investment Vehicles -
2 The Economics of Mutual Funds -
3 The Role of Mutual Funds in Retirement and Education Savings -
4 The Structure and Regulation of Mutual Funds -
5 Open-End Funds -
6 Target-Date Funds and Other Funds-of-Funds -
7 Closed-End Funds -
8 Non-U.S. Closed-End Funds -
9 Exchange-Traded Funds -
10 Leveraged and Inverse Exchange-Traded Funds -
11 Money Market Mutual Funds -
12 Bond Mutual Funds -
13 Stock Mutual Funds -
14 Socially Responsible Mutual Funds -
15 Mutual Funds -
16 Strategic Asset Allocation and Rebalancing -
17 Building and Monitoring Mutual Fund Portfolios -
18 Analyzing Mutual Funds -
19 Predicting Mutual Fund Performance -
20 Evaluating Mutual Fund Performance within the Stochastic Discount Framework -
21 Mutual Fund Risk -
22 Organization, Structure, and Services of Mutual Funds -
23 Selected Topics in Mutual Fund Distribution -
24 Mutual Fund Disclosure and Related Fund Investor Protection Features -
25 New Developments in Exchange-Traded Funds -
26 Ethical Standards in Mutual Funds -
27 Mutual Funds in Emerging and Developing Markets -
28 Performance of Global Mutual Funds -
29 Performance of Exchange-Traded Funds -
30 Issues, Trends, and Future Developments in the Mutual Fund Industry - Discussion Questions and Answers
- Index
Performance of Global Mutual Funds
Performance of Global Mutual Funds
- Chapter:
- (p.507) 28 Performance of Global Mutual Funds
- Source:
- Mutual Funds and Exchange-Traded Funds
- Author(s):
Tarik Bazgour
Laurent Bodson
Danielle Sougné
- Publisher:
- Oxford University Press
Global and international mutual funds provide U.S. investors with an effective way to gain from international diversification. However, due to the complexity of international markets, performance evaluation of these funds is much more complex than that of U.S. domestic funds. This chapter reviews the appropriate measures for evaluating global portfolios’ performance and some of key properties and issues associated with each measure. It also examines the evidence these measures have produced on the stock selection and market-timing skills of global and international actively managed mutual funds. The chapter covers global and international equity funds, bond funds, and asset allocation funds. Additionally, it reviews the empirical evidence on whether global funds provide diversification benefits to U.S. investors as well as the evidence on the relationship between the performance of global mutual funds and their characteristics.
Keywords: global and international mutual funds, performance evaluation, international markets, stock selection, market-timing skills, diversification
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- Title Pages
- List of Figures
- List of Tables
- Acknowledgments
- About the Editors
- About the Contributors
- Abbreviations
-
1 Mutual Funds and Related Investment Vehicles -
2 The Economics of Mutual Funds -
3 The Role of Mutual Funds in Retirement and Education Savings -
4 The Structure and Regulation of Mutual Funds -
5 Open-End Funds -
6 Target-Date Funds and Other Funds-of-Funds -
7 Closed-End Funds -
8 Non-U.S. Closed-End Funds -
9 Exchange-Traded Funds -
10 Leveraged and Inverse Exchange-Traded Funds -
11 Money Market Mutual Funds -
12 Bond Mutual Funds -
13 Stock Mutual Funds -
14 Socially Responsible Mutual Funds -
15 Mutual Funds -
16 Strategic Asset Allocation and Rebalancing -
17 Building and Monitoring Mutual Fund Portfolios -
18 Analyzing Mutual Funds -
19 Predicting Mutual Fund Performance -
20 Evaluating Mutual Fund Performance within the Stochastic Discount Framework -
21 Mutual Fund Risk -
22 Organization, Structure, and Services of Mutual Funds -
23 Selected Topics in Mutual Fund Distribution -
24 Mutual Fund Disclosure and Related Fund Investor Protection Features -
25 New Developments in Exchange-Traded Funds -
26 Ethical Standards in Mutual Funds -
27 Mutual Funds in Emerging and Developing Markets -
28 Performance of Global Mutual Funds -
29 Performance of Exchange-Traded Funds -
30 Issues, Trends, and Future Developments in the Mutual Fund Industry - Discussion Questions and Answers
- Index