This article examines the relationship between asset returns and changes in the announced target cash rate of the Reserve Bank of Australia during the period from September 1990 to June 2000. Using a two stage least squares model adapted from Lowe (1995) the analysis found that there is an...

One of the main benefits that has flowed from increasing capital markets liberalization has been the opportunities that this has provided to facilitate international diversification. This paper aims to determine the benefits of the asset allocation process undertaken by fund managers in 15...