Investigating the factors affecting the performance of offshore high-yield bond funds
by Yensen Ni; Paoyu Huang; Yaochia Ku; Yuhsin Chen
International Journal of Financial Services Management (IJFSM), Vol. 9, No. 3, 2018

Abstract: We investigate the factors affecting the performance of offshore high-yield bond funds and reveal two impressive findings, which might contribute to the existing literature. First, we disclose that the funds registered in Luxembourg perform better than those registered in Ireland, which seems unrevealed in the existing literature. Second, we show that the funds with high volatilities might not have better performance. We infer that high volatilities incorporating systematic and unsystematic risks might not enhance bond returns, even though we reveal that systematic risks would enhance bond returns in this study.

Online publication date: Tue, 07-Aug-2018

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