The performance of UK investment trusts
Service Industries Journal
67 - 81
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Please cite this item using this persistent URLhttp://hdl.handle.net/11693/25753
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 not 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.
- Research Paper 7144