Australian retail fund performance persistence

Chris Bilson*, Angela Frino, Richard Heaney

*Corresponding author for this work

Research output: Contribution to journalArticleResearchpeer-review

20 Citations (Scopus)


The present study extends the Australian fund performance persistence literature through the use of five performance metrics: raw returns, the Sharpe ratio, the single-factor model and two multifactor models, the Carhart (1997) model and the Gruber (1996) model, in analysis of Australian retail fund performance over the period 1991-2000. Analysis suggests that performance persistence is sensitive to fund objective and appears to be driven by inadequate adjustment for risk.

Original languageEnglish
Pages (from-to)25-42
Number of pages18
JournalAccounting and Finance
Issue number1
Publication statusPublished - 1 Mar 2005
Externally publishedYes


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