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Journal Article

Evaluating the Performance of International Mutual Funds

Robert E. Cumby and Jack D. Glen
The Journal of Finance
Vol. 45, No. 2 (Jun., 1990), pp. 497-521
Published by: Wiley for the American Finance Association
DOI: 10.2307/2328667
Stable URL: http://www.jstor.org/stable/2328667
Page Count: 25
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Evaluating the Performance of International Mutual Funds
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Abstract

In this paper, we examine the performance of a sample of fifteen U.S.-based internationally diversified mutual funds between 1982 and 1988. Two performance measures are used, the Jensen measure and the positive period weighting measure proposed by Grinblatt and Titman. We find no evidence that the funds, either individually or as a whole, provide investors with performance that surpasses that of a broad, international equity index over this sample period.

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