The Asset Allocation of Emerging Market Mutual Funds /

Benchmark following and portfolio rebalancing effects have often been cited when trying to explain international financial contagion phenomena. Using a dataset containing the country allocation of individual dedicated emerging market equity funds, we assess the relevance of mean-variance optimizatio...

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Detalles Bibliográficos
Autor Principal: Disyatat, Piti
Outros autores: Gelos, R.
Formato: Revista
Idioma:English
Publicado: Washington, D.C. : International Monetary Fund, 2001.
Series:IMF Working Papers; Working Paper ; No. 2001/111
Subjects:
Acceso en liña:Full text available on IMF
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520 3 |a Benchmark following and portfolio rebalancing effects have often been cited when trying to explain international financial contagion phenomena. Using a dataset containing the country allocation of individual dedicated emerging market equity funds, we assess the relevance of mean-variance optimization and benchmark following, finding strong evidence for both. We also present a framework to systematically extract useful information about market expectations from funds' holdings. 
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