An exploration of the conditional timing performance of UK unit trusts
Byrne, Alistair, Fletcher, Jonathan and Ntozi-Obwale, Patricia (2006) An exploration of the conditional timing performance of UK unit trusts. Journal Of Business Finance & Accounting, 33 (5-6). pp. 816-838. ISSN 1468-5957Full text not available from this repository.
We examine the conditional market timing performance of UK unit trusts between January 1988 and December 2002. We find no evidence of superior conditional market timing performance by UK unit trusts either across different portfolios of trusts or by individual trusts. We also find that benchmark investing is significant for UK unit trusts and trusts have high numerical risk aversion to deviations from the benchmark. Our findings suggest that UK trusts act like benchmark investors.
|Uncontrolled Keywords:||conditional timing performance, unit trusts|
|Subjects:||H Social Sciences > HG Finance|
|School / Department / Research Groups:||School of Business|
School of Business > Department of Accounting & Finance
|Last Modified:||13 Jun 2011 16:31|
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