This paper studies channels through which well-known benchmark indexes impact asset allocations and capital flows across countries. The study uses unique monthly micro-level data of benchmark compositions and mutual fund investments during 1996-2012. Benchmarks have important effects on equity and bond mutual fund portfolios across funds with different degrees of activism. Benchmarks explain, on average, around 70 percent of country allocations and...
Voir la suite
INFORMATION
-
2014/05/01
-
Document de travail de recherche sur les politiques
-
WPS6866
-
1
-
1
-
2014/05/01
-
Disclosed
-
International asset allocations and capital flows : the benchmark effect
-
mutual fund
TÉLÉCHARGER
RAPPORT COMPLET
Version officielle du document (peut inclure des signatures etc…)
-
Total Downloads** : 2143
*La version texte est une version à reconnaissance optique de caractères non-corrigée. Cette version est fournie uniquement pour accommoder les utilisateurs disposant de connections lentes.