The Performance of UK International Unit Trusts
评估了1985年1月至2000年12月间英国国际股票型单位信托基金相对于国内基准策略的表现，发现不同绩效衡量方法下结果存在差异，且费用和投资领域对表现有影响。
Abstract We evaluate the performance of UK unit trusts with international equity objectives between January 1985 and December 2000 relative to domestic benchmark strategies. We use performance measures based on Jensen (1968) , Ferson and Schadt (1996) , and the Chen and Knez (1996) law of one price (LOP). We find more favourable trust performance using the Jensen and Ferson and Schadt measures relative to the LOP measure. There is evidence of inferior performance by some international trusts using the unconditional LOP measure. The charges and investment sector of the trust also has an impact on the performance of the trusts using the LOP measure .