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Investment Performance Of International Mutual Funds

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  • William G. Droms
  • David A. Walker

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.

Suggested Citation

  • William G. Droms & David A. Walker, 1994. "Investment Performance Of International Mutual Funds," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 17(1), pages 1-14, March.
    • Handle: RePEc:bla:jfnres:v:17:y:1994:i:1:p:1-14
    DOI: 10.1111/j.1475-6803.1994.tb00170.x
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