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| Author: | Gallo, J. Swanson, P. |
| Title: | Comparative measures of performance for U.S.-based international equity mutual funds |
| Journal: | Journal of Banking and Finance
1996 : DEC, VOL. 20:10, p. 1635-1650 |
| Index terms: | FINANCE BANKING UNIT TRUSTS |
| Language: | eng |
| Abstract: | This paper compares an international two-index model to an International Arbitrage pricing Theory (IAPT) two-factor model to evaluate the performance of 37 U.S.-based international mutual funds over teh 1985-1993 period. Results from the index model confirm prior research that international funds perform as well as the market proxy. In contrast, the IAPT model implies superior investment performance by the international funds. Moreover, the two models produce different relative performance rankings. |
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