Abstract:
The purpose of this study is to provide a comprehensive empirical analysis of
the performance of SWFs in several countries, explain why they are different, and
compare three measures of performance evaluation. The three basic models are
Treynor Index, Sharp Index, and Jensen Index. 19 funds are selected compared to the
market performance. The period under this study was from 2006 to 2011. The
evidence obtained from the analysis of this study suggests that part of the funds
outperformed the market significantly.