Kugler, Peter; Weder, Beatrice - In: Swiss Journal of Economics and Statistics (SJES) 140 (2004) III, pp. 301-325
This paper revisits the puzzle of low returns on Swiss Franc assets using a new data set of portfolio holdings of residents and non residents at Swiss banks. The main findings are as follows. First, we find that the return anomaly is present only for fixed income assets and not for equity....
