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Individual investor portfolio performance in retirement savings accounts

Author

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  • Su (Sally) Gan
  • Richard Heaney
  • Paul Gerrans

Abstract

We analyse the investment performance of a large sample of individuals investing in discretionary superannuation products offered by a large Australian financial institution. We do not find gender differences as has previously been reported but we do find evidence of a negative relationship between investor age and performance. Those residing in wealthier postcodes perform better. In terms of investment characteristics, wholesale investors perform better whereas those who are the most active perform worse.

Suggested Citation

  • Su (Sally) Gan & Richard Heaney & Paul Gerrans, 2015. "Individual investor portfolio performance in retirement savings accounts," Australian Journal of Management, Australian School of Business, vol. 40(4), pages 652-671, November.
    • Handle: RePEc:sae:ausman:v:40:y:2015:i:4:p:652-671
    DOI: 10.1177/0312896214528187
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    References listed on IDEAS

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    Cited by:

    1. Michael J. O'Neill & Geoffrey J. Warren, 2019. "Evaluating fund capacity: issues and methods," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 59(S1), pages 773-800, April.

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    More about this item

    Keywords

    Household portfolios; investment choice; portfolio performance; retirement savings; superannuation;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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