U.S. Mutual Fund Retail Investors in International Equity Markets : Is the Tail Wagging the Dog? /

Do the dynamics of net flows to U.S. retail mutual funds affect equity returns in emerging markets? The question merits further examination since retail investors in mutual funds can exert a much greater degree of "control" over these funds via cash injections or redemptions at any time. A...

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Bibliografische gegevens
Hoofdauteur: Chan-Lau, Jorge
Andere auteurs: Ong, Li
Formaat: Tijdschrift
Taal:English
Gepubliceerd in: Washington, D.C. : International Monetary Fund, 2005.
Reeks:IMF Working Papers; Working Paper ; No. 2005/162
Online toegang:Full text available on IMF
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245 1 0 |a U.S. Mutual Fund Retail Investors in International Equity Markets :   |b Is the Tail Wagging the Dog? /  |c Jorge Chan-Lau, Li Ong. 
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520 3 |a Do the dynamics of net flows to U.S. retail mutual funds affect equity returns in emerging markets? The question merits further examination since retail investors in mutual funds can exert a much greater degree of "control" over these funds via cash injections or redemptions at any time. A VAR analysis shows increased discrimination across emerging market regions after the Asian crisis as investors focused on individual regions rather than on emerging markets as a generic asset class. Crossover funds allocations also appear to affect emerging market returns. Furthermore, investment decisions by fund managers seem to be largely driven by retail investor allocations. 
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700 1 |a Ong, Li. 
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