This paper addresses the trading strategies of mutual funds in emerging markets. Contemporaneous momentum trading (buying current winners and selling current losers) is stronger during crises, and stronger for fund investors than for fund managers. Investors also engage in contagion trading-selling assets from one country when asset prices fall in another. These findings are based on data about mutual funds that represent only 10 percent of the market...
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INFORMATION
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2000/07/01
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Document de travail
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28208
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1
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1
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2010/07/01
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Managers, investors, and crises: mutual fund strategies in emerging markets
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types of market participant
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