實證結果發現單一國家新興市場股票型基金及全球及區域新興市場股票型基金皆有特定基金之績效優於同類型其他基金，例如JF南韓基金、柏瑞環球基金-柏瑞印度股票基金、JF泰國基金、霸菱全球新興市場基金及富達拉丁美洲基金，亦有特定基金之績效劣於同類型其他基金，例如匯豐環球投資基金-中國股票及匯豐環球投資基金-泰國股票；在不同的國家或區域某些特定基金之績效持續性亦優於同類型其他基金，例如德盛中國基金、JF泰國基金及霸菱全球新興市場。 The paper’s samples are consisted of 73 foreign currency-denominated emerging market mutual fund issued by foreign asset management Corporations. The time period is from the end of November 2005 until the end of November 2010. We use return, standard deviation, β coefficient, Sharp index, Treynor Index, Jensen Index and the Information ratio performance indicators to analyze samples. Through this paper we can find out more about mutual fund performance of foreign currency-denominated emerging market mutual fund issued by foreign investment advisory companies.
Empirical results show that there are some specific mutual funds performance better than other same mutual fund type among single country of emerging market mutual funds, global emerging market mutual funds and regional emerging market mutual funds,such as JF Korea Trust、Pinebridge Global Funds - India Equity、JF Thailand Trust、Baring Global Emerging Markets Fund and Fidelity Funds – Latin America Fund. There are also some specific mutual fund underperformances than other same type mutual fund, such as HSBC GIF Chinese Equity Fund and HSBC Global Investment Funds-Thai Equity Fund. The sustainability of performances of some specific mutual funds has better then other different countries or regions,such as Allianz RCM China、JF Thailand Trust and Baring Global Emerging Markets Fund .
