Abstract
This study examines the selectivity and market-timing ability of international mutual fund managers. Ninety-seven international mutual funds with a minimum of five-year return history selected from the Morningstar OnDisc database are analyzed. Our findings suggest that managers of international mutual funds possess good selectivity and overall performance. We also find weak evidence of poor market-timing ability. Consistent with prior findings from domestic mutual funds, there is a negative correlation between the international fund managers’ selection ability and market-timing ability. Finally, managers for Europea funds show poorer performance than those managing the other three international fund groups.
Original language | English |
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Pages (from-to) | 127-144 |
Number of pages | 18 |
Journal | Financial Review |
Volume | 33 |
Issue number | 2 |
DOIs | |
Publication status | Published - 1 Jan 1998 |
Keywords
- International
- Market timing
- Mutual fund
- Performance
- Selectivity
ASJC Scopus subject areas
- Finance
- Economics and Econometrics