Performance Persistence of UK Investment Trusts.

Author:

Guirguis Michel

Publisher

Elsevier BV

Reference55 articles.

1. Positive returns indicate that the manager is skillful in terms of share picking ability. Specifically, UK Growth and Income and UK Smaller Companies display positive NAV figures of 3.17% and 4.12%. Global Smaller Companies shows positive NAV figure of 2.45%. North America Smaller Companies displays a positive NAV figure of 1.67%. Europe and European Smaller Companies display positive NAV figures of 6.57% and 2.55%. Japan also shows a positive NAV figure of 3;Twelve out of the sixteen sectors display positive figures for the NAV average returns

2. The numerical values are 0.53 or 53%, 0.67 and 0.77 respectively. In contrast, UK Growth displays low figures of Treynor, Sharpe and information ratio. The numerical values are 0.22 or 22%, 0.26 or 26% and 0.38 respectively. UK Smaller Companies displays high figures of Treynor, Sharpe and information ratio. The numerical values are 0.55 or 55%, 0.67 or 67% and 0.88 or 88% respectively. Far East (Including Japan) displays high figures of Treynor, Sharpe and information ratio. The numerical values are 0.68 or 68%, 0.89 or 89% and 0.98 or 98% respectively. In contrast, North America displays low figures of Treynor, Sharpe and information ratio. The numerical values are 0.18 or 18%, 0.11 or 11% and 0.15 or 15% respectively. Far East (Excluding Japan) displays high figures of Treynor, Sharpe and information ratio. The numerical values are 0.84 or 84%, 0.95 or 95% and 0.93 or 93% respectively. Japanese Smaller Companies displays low figures of Treynor, Sharpe and information ratio. The numerical values are 0.23 or 23%, 0.28 or 28% and 0.31 or 31% respectively. In contrast, Japan shows high figures of Treynor, Sharpe and information ratio. The numerical values are 0.66 or 66%, 0.68 or 68% and 0.62 or 62% respectively. Europe displays high figures of Treynor, Sharpe and information ratio. The numerical values are 0.75 or 75%, 0.73 or 73% and 0.88 or 88% respectively. European Smaller Companies displays high figures of Treynor, Sharpe and information ratio. The numerical values are 0.67 or 67%, 0.72 or 72% and 0.77 or 77% respectively;High values of the Treynor, Sharpe and information ratio are an indication of a skillful manager that adds value in terms of better performance persistence of the funds under each category,1996

3. On Taking the 'Alternative' Route: Risks, Rewards, Style and Performance Persistence of Hedge Funds

4. A Test of the Persistence in the Performance of UK Managed Funds;Allen D E Tan;Journal of Business Finance and Accounting,1999

5. The performance of U.K. investment trusts;Y Bal;Services Industry Journal,1996

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