Returns from Investing in Australian Equity Superannuation Funds, 1991 to 1999

Drew, Michael E. and Stanford, Jon D. (2000) Returns from Investing in Australian Equity Superannuation Funds, 1991 to 1999. Discussion Paper No. 279, Department of Economics, University of Queensland.

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Author Drew, Michael E.
Stanford, Jon D.
Title Returns from Investing in Australian Equity Superannuation Funds, 1991 to 1999
School, Department or Centre Department of Economics
Institution University of Queensland
Report Number Discussion Paper No. 279
Publication date 2000-10-01
Subject 350300 Banking, Finance and Investment
Abstract/Summary This study tests the strong-form efficient market hypothesis for Australian equity superannuation fund returns from 1991 to 1999. The efficient market model is not rejected for the sample period, suggesting that passive asset selection is superior to any other strategy that creates greater information and execution expenses, as these costs are largely sunk. Moreover, Australian superannuation investors would achieve their returement income objectives more rapidly through a passive asset selection strategy.
Keyword Superannuation
returns on investment
efficient market model
investors

Document type: Department Technical Report
Collection: Discussion Papers (School of Economics)
 
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Created: Fri, 11 Jun 2004, 10:00:00 EST by Belinda Weaver (EA)