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dc.contributor.authorDrew, ME
dc.date.accessioned2017-05-03T15:39:12Z
dc.date.available2017-05-03T15:39:12Z
dc.date.issued2006
dc.date.modified2010-03-08T06:29:19Z
dc.identifier.issn1035-6908
dc.identifier.doi10.1111/j.1835-2561.2006.tb00041.x
dc.identifier.urihttp://hdl.handle.net/10072/29106
dc.description.abstractAbstract: Purpose - To investigate the effects of switching strategies between investment options for Australian superannuation funds. Design/methodology/approach - Outlines the switching arrangements available, refers to relevant research and explains Bauer and Dahlquist's (2001) 'roulette wheel' approach to evaluating switching strategies. Applies it to 1985-2005 monthly returns data for Australian and global investment opportunities including property and blended options. Explains the methodology and considers consistency with other research. Findings - Although Australian equities gave negative returns for 89 of the 252 months, an Australian equity buy-and-hold strategy gave better returns than 63% of possible switching paths. Buy-and-hold was also superior to switching between Australian property and T-bills etc., confirming Sharpe's (1975) idea that investors need a 70% to 80% forecast accuracy for switching to work. Research limitations/implications - Calls for more research on superannuation funds' default investment options and switching effects, including switching at the margin. Originality/value - Provides evidence that buy-and-hold is usually better than switching strategies in the context of Australian superannuation funds.
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.languageEnglish
dc.language.isoeng
dc.publisherAustralian Society of Certified Practising Accountants
dc.publisher.placeAustralia
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom23
dc.relation.ispartofpageto31
dc.relation.ispartofissue3
dc.relation.ispartofjournalAustralian Accounting Review
dc.relation.ispartofvolume16
dc.rights.retentionY
dc.subject.fieldofresearchOther economics
dc.subject.fieldofresearchAccounting, auditing and accountability
dc.subject.fieldofresearchAccounting, auditing and accountability not elsewhere classified
dc.subject.fieldofresearchcode3899
dc.subject.fieldofresearchcode3501
dc.subject.fieldofresearchcode350199
dc.titleSuperannuation: Switching and Roulette Wheels
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.date.issued2006
gro.hasfulltextNo Full Text
gro.griffith.authorDrew, Michael E.


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