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Mutual Funds and Exchange-Traded FundsBuilding Blocks to Wealth$
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H. Kent Baker, Greg Filbeck, and Halil Kiymaz

Print publication date: 2015

Print ISBN-13: 9780190207434

Published to Oxford Scholarship Online: November 2015

DOI: 10.1093/acprof:oso/9780190207434.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use.date: 06 July 2022

Performance of Global Mutual Funds

Performance of Global Mutual Funds

(p.507) 28 Performance of Global Mutual Funds
Mutual Funds and Exchange-Traded Funds

Tarik Bazgour

Laurent Bodson

Danielle Sougné

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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