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We document a curious feature of the German mutual fund industry. Unlike U.S. mutual funds, funds domiciled in Germany … infer each fund's NAV closing time from the best-fit market model using both maximum likelihood and Bayesian estimation. The … results of both approaches coincide perfectly and show that all but one of the funds domiciled in Germany report intraday NAVs …
Persistent link: https://www.econbiz.de/10009751161