Fund management in the interwar period: UK investment trust portfolio asset allocation in the 1920s

Autor:	Dimitris P Sotiropoulos, Janette Rutterford, Daniele Tori, Antonis Kyparissis
Rok vydání:	2023
Předmět:	History Economics Econometrics and Finance (miscellaneous)
Zdroj:	European Review of Economic History. 27:250-277
ISSN:	1474-0044 1361-4916
DOI:	10.1093/ereh/heac019
Popis:	This study investigates the portfolio asset allocation of UK investment trusts between 1914 and 1928 using a unique hand-collected dataset of 41 companies, which comprises 40,875 portfolio holdings. UK investment trusts not only survived WWI without major losses but also had a remarkable performance in the 1920s, which led to a wave of new incorporations. The 1920s was a period of significant shifts in investment trust portfolio composition and our analysis examines the main reasons for this. We show that investment trust managers were able to adjust quickly to the new socioeconomic circumstances and secure high profitability for their shareholders.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::639ddfe39085c24d5730eb0cff4e1c89 https://doi.org/10.1093/ereh/heac019 Zobrazit plný text záznamu