This article explores three facets of the historical performance of a sample of actively managed unit trusts available to New Zealand investors: asset allocation, style analysis, and return attribution. Because New Zealand does not require unit trusts to disclose their security holdings, we used...

In this article, we demonstrate that standard and effective durations for bonds without embedded options are not equal. The two measures are nearly always different. The difference can be large enough to be of consequence in some applications. Additionally, we show that the only consistent...

Purpose – This article aims to explore three facets of the historical performance of a sample of actively managed unit trusts available to New Zealand investors: asset allocation, style analysis, and return attribution. Design/methodology/approach – Because New Zealand does not require unit...