Death, Taxes, and Short-Term Underperformance: Non-U.S. Funds

Abstract:     
Now updated through 2006, this article illustrate the potential for periods of short-term underperformance may be one of the few certainties that investors can count on. Our research focuses on the performance results of non-U.S. mutual funds over the last decade. Observations suggest that underperformance in shorter time periods - such as one quarter, one year, or even three years - is to be expected, even for funds that have performed strongly over the long term. (Note: This article has been filed with FINRA.)

Number of Pages in PDF File: 6

Keywords: investor, investment, death, taxes, mutual fund, short-term, performance

working papers series