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U.S. Mutual Fund Retail Investors in International Equity Markets [electronic resource] : Is the Tail Wagging the Dog? Chan-Lau, Jorge A..

Author/Creator:
Chan-Lau, Jorge A.
Publication:
Washington, D.C. : International Monetary Fund, 2005.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 05/162.
IMF Working Papers; Working Paper No. 05/162
Format/Description:
Government document
Book
1 online resource (22 p.)
Local subjects:
Capital flows.
Capital gains.
Capital markets.
Capital movements.
Domestic equity.
Emerging markets.
Equity funds.
Equity returns.
Equity securities.
Fixed income.
Foreign investors.
Hedge funds.
Institutional investors.
International capital.
International capital markets.
International Financial Markets.
International Investment.
Investment behavior.
Investment decisions.
Investment policy.
Investment risk.
Investment strategies.
Investors.
Local capital markets.
Long-Term Capital Movements.
Mature markets.
Mutual funds.
Outstanding shares.
Reinvestment.
Stock market.
Stock markets.
Japan.
United States.
Summary:
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.
Notes:
Description based on print version record.
Contributor:
Chan-Lau, Jorge A.
Ong, Li L.
Other format:
Print Version:
ISBN:
1451861818:
9781451861815
ISSN:
1018-5941
Publisher Number:
10.5089/9781451861815.001
Access Restriction:
Restricted for use by site license.
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