A Note on Performance Evaluation of New Zealand Mutual Funds
This paper reports on the performance of the New Zealand unit trusts over 11 years using the Fama-French three-factor model and the Cahart (1997) unconditional asset pricing test. The results reveal that the funds had negative Jensen’s alphas and thus poor performance. The conditional model shows...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Universiti Utara Malaysia
2006-01-01
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| Series: | The International Journal of Banking and Finance |
| Subjects: | |
| Online Access: | https://www.e-journal.uum.edu.my/index.php/ijbf/article/view/8354 |