Equity style and performance persistence in South African unit trusts

Abstract

Extracted from text ... Equity style and performance persistence in South African unit trusts Investment Analysts Journal - No. 61 2005 5 Equity style and performance persistence in South African unit trusts 1. INTRODUCTION* Both international and local studies confirm that unit trust consumers select unit trusts based on performance track record, flocking to funds with the highest recent returns (Sirri and Tufano, 1998, Meyer, 1998). It has become increasingly necessary for funds to achieve and maintain strong performance in order to attract new and keep their existing investors. This sustained level of performance can be referred to as performance persistence. Positive performance ..