Didier, Tatiana; Rigobon, Roberto; Schmukler, Sergio L. - In: The Review of Economics and Statistics 95 (2013) 5, pp. 1562-1583
Using unique data on mutual fund portfolios with different investment scopes, we study the extent of international diversification. Mutual funds invest in a surprisingly limited number of stocks—about 100. The number of holdings from a given region declines as the investment scope broadens....
