| Summary: | 碩士 === 逢甲大學 === 國際經營管理碩士學位學程 === 97 === Luxury goods makers are strong growth in 2007. Wealthy consumers (HNWIs) in the Middle East, Asia-Pacific and North America showed the highest level of performance on Fine Art , Wine and Luxury Mutual Funds.
At present 「Art Fund」,「Wine Fund」 and 「Luxury Fund」 is on the rise around the world. Therefore, this research is into examining the investment performance whether Luxury Mutual Funds returns outperformed S&P 500 return. Using Sharpe ratios, along with Treynor ratios and Jensen''s alphas to rank the performance of S&P 500, Art, Wine, and Luxury mutual funds or indices which present are issuing upon 2 years in the end of 2008. The major findings of this research are as follow. (1) Luxury mutual funds that performances are under S&P 500 returns. (2) Art and Wine mutual funds or indices that performances are surpassing S&P 500 returns in Sharpe ratios, Treynor ratios and Jensen''s alphas and compare to luxury samples, the performances are better in both total risk and systematic risk.
The limitation from regulation and government managing policy has taken the critical role that affects development of Art Fund and Wine Fund in Taiwan. Finally this analysis would provide several suggestions.
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