(VF)Cet article propose d'étudier la stabilité des performances de certains fonds de retraite anglais. Nos résultats montrent que les fonds investis en actions sont caractérisés par une réversion de leurs performances alors que les fonds obligataires connaissent une certaine pérennité...

Due to non-linear transaction costs, the fi nancial performance of a trading strategy decreaseswith portfolio size. Using a dynamic trading model a la Garleanu and Pedersen (2013), wederive closed-form formulas for the performance-to-scale frontier reached by competitive tradersendowed with a...

This paper investigates value and growth investing in a large administrative panel of Swedish residents. We show that over the life-cycle, households progressively shift from growth to value as they become older and their balance sheets improve. Furthermore, investors with high human capital and...