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| Tekijä: | Otten, R. Bams, D. |
| Otsikko: | The performance of local versus foreign mutual fund managers |
| Lehti: | European Financial Management
2007 : SEP, VOL. 13:4, p. 702-720 |
| Asiasana: | asymmetric information performance appraisal unit trusts United Kingdom USA |
| Kieli: | eng |
| Tiivistelmä: | This article examines the performance of US equity funds (locals) versus UK equity funds (foreigners) also investing in the US equity market. Based on informational disadvantages one would expect the UK funds to under-perform the US funds, especially in the research-intensive small company market. After controlling for tax treatment, fund objectives, investment style and time-variation in betas, no evidence is found for this. |
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