Exchange traded funds have generated a great deal of interest in marketswhere they have been introduced including in the South African investmentmarket. In South Africa exchange traded funds are still relatively new and therange available is fairly narrow, however their popularity is growing at...

The aim of market investors is to maximise their returns from the market. Often theydo this by the use of historical financial (and other relevant) information aboutcompanies and their share prices. The search for arbitrage opportunities has led tothe identification of anomalies such as the size...

Market sentiment, popular press and the academic fraternity all seem divided on the issueof whether a fund’s asset base affects its performance such that the delivery of aboveaverage market returns is impacted.A historical simulation was employed in constructing hypothetical active portfolios...

The historical volatility of the rand exchange rate has encouraged investors on the JSESecurities Exchange to invest in shares which are believed to have an inverserelationship to exchange rate movements of the rand, thus providing a buffer againstrand weakness. As a result, the effective...

This paper provides an assessment of the level of implementation of the International Organization of Securities Commissions (IOSCO) Principles in Sweden’s securities market. The assessment has identified several significant weaknesses in the scope and effectiveness of securities market...

This paper studies the role of insider trading in explaining cross-country differences in stock market volatility. The central finding is that countries with more prevalent insider trading have more volatile stock markets, even after one controls for liquidity/maturity of the market and the...