The Euromoney annual report award
As of January 1, 1986, there is a better way to measure the performance of international stock portfolios: the new Euromoney/First Boston Global Stock Index.
Global investing has been a reality for some years. More and more institutions are placing a significant volume of their funds in foreign equities.
But until now there has been no satisfactory way to define how well these diversified portfolios are managed--no yardstick to measure performance as the S&P 500 does in the US, for example.
It is this need that Euromoney and First Boston aim to fill. For months a special team under the direction of First Boston managing director James Freeman in association with Euromoney's editors has been constructing a comprehensive index comprising more than 1,500 equities drawn from 16 major markets around the world.
The team includes some of the most respected figures in the field of quantitative financial analysis: Lawrence Fisher, professor of finance at Rutgers University; Charles Wolf, professor of business at Columbia University; and Maureen White, a senior First Boston equity analyst. Fisher, who was previously working at the University of Chicago, is best known for developing CRSP, the U of C's Centre for Research in Securities Prices, a stock data bank widely used in American academic work.