A number of studies document that return-based fund classifications explain the cross-sectional variation in past and future fund returns better than existing industry classifications that are based on portfolio holdings or investment objectives. The present paper illustrates that return-based...

We apply a return-based classification approach on a sample of absolute return funds registered for sale in Europe. The classification process results in eight groups with specific risk and return profiles. Each group can be characterized by two dimensions of an underlying investment style:...

Aus dem Inhalt: -- Grundlagen Internationaler Wirtschaftsbeziehungen: Zahlungsbilanzen, internationale ökonomische Verflechtungen und grundlegende Weltwirtschaftsprobleme. Ursachen des Außenhandels und internationales Tauschgleichgewicht. -- Internationale Dependenzen aus nationaler Sicht:...