INVESTMENT PERFORMANCE OF INTERNATIONAL MUTUAL FUNDS

William G. Droms and David A. Walker

Journal of Financial Research, 1994, vol. 17, issue 1, 1-14

Abstract: In this paper we add several new perspectives to the growing body of empirical evidence on the investment performance of international mutual funds by applying a pooled cross‐sectional/time‐series regression methodology to a large data base over an extended period. Risk‐adjusted and unadjusted investment returns are not related to whether a fund is load or no‐load, and asset size, expense ratios, and turnover rates are not related to investment performance. We find no reward for paying a load fee when investing in mutual funds. It is noteworthy that performance is not affected by fund size, given the explosive growth of international mutual funds.

Date: 1994
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https://doi.org/10.1111/j.1475-6803.1994.tb00170.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:jfnres:v:17:y:1994:i:1:p:1-14

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