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...
Vea más
INFORMACIÓN
-
2014/05/01
-
Documento de trabajo sobre investigaciones relativas a políticas
-
WPS6866
-
1
-
1
-
2014/05/01
-
Disclosed
-
International asset allocations and capital flows : the benchmark effect
-
mutual fund