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Reshaping Financial Systems. New Technologies and Financial Innovations – Evidence from the United States, Mexico and Brazil

Lechman, Ewa - 2014

. Particularly, we examine the impact of ICT adoption on changing values of exchange traded funds in Brazil and Mexico, comparing it … development of exchange traded funds in Mexico and in the United States, measured by increases in assets under management …. Moreover, in the period 2002-2012 Mexico has caught up with the United States in terms of ETFs share in total investment funds …

Persistent link: https://www.econbiz.de/10013056582

Reshaping financial systems : new technologies and financial innovations - evidence from the United States, Mexico and Brazil

Lechman, Ewa; Marszk, Adam - 2014

. Particularly, we examine the impact of ICT adoption on changing values of exchange traded funds in Brazil and Mexico, comparing it … fast development of exchange traded funds in Mexico and in the United States, measured by increases in assets under … management. Moreover, in the period 2002-2012 Mexico has caught up with the United States in terms of ETFs share in total …

Persistent link: https://www.econbiz.de/10011802118

ICT Technologies and Financial Innovations : The Case of Exchange Traded Funds in Brazil, Japan, Mexico, South Korea and the United States

Lechman, Ewa - 2014

examine the impact of increasing ICT penetration on the assets of exchange traded funds in Brazil, Mexico, Japan and South …, Mexico, the United States and South Korea; while in Brazil the analogous relationship is relatively weak, although still …

Persistent link: https://www.econbiz.de/10013040147

The Domestic Transmission of International Shocks : Evidence from US and Mexican Mutual Funds

De Jesus, Miguel - 2018

In this study, I demonstrate that international mutual funds can cause temporary stock price deviations from fundamentals in the countries they have positions in. I show that US mutual funds massively sold their Mexican equity when the recent crisis was developing, which then led to the average...

Persistent link: https://www.econbiz.de/10012930987

Target Date Funds as Asset Market Stabilizers : Evidence from the Pandemic

Parker, Jonathan A.; Sun, Yang - National Bureau of Economic Research - 2023

Target Date Funds (TDFs) provide retirement investors, many of whom are unsophisticated or inattentive, with age-appropriate exposures to different asset classes like stocks and bonds. To maintain exposures, TDFs trade actively against market returns, buying stock funds when the stock market...

Persistent link: https://www.econbiz.de/10014337872

The Impact of Benchmark Choice on US Mutual Fund Benchmark-Adjusted Performance and Ranking

B. Mateus, Irina - 2017

This study re-visits the question of benchmark mismatch among 1281 US equity mutual funds and its impact on benchmark-adjusted fund performance and ranking. All funds report S&P500 index as a prospectus benchmark, yet 2/3 of those are placed in the Morningstar category with risk and objectives...

Persistent link: https://www.econbiz.de/10012950444

Dynamic Setting of Distribution Fees in the US Mutual Fund Industry

Casavecchia, Lorenzo - 2010

The distribution strategies of mutual funds directly or indirectly affect both their growth and their revenues. The extent of resources dedicated by a fund to its distribution channel(s) is therefore an important strategic decision. For a sample of US diversified equity mutual funds in the...

Persistent link: https://www.econbiz.de/10013152774

The Use of Credit Default Swaps by U.S. Fixed-Income Mutual Funds

Guettler, Andre - 2014

We examine the use of credit default swaps (CDS) in the U.S. mutual fund industry. We find that among the largest 100 corporate bond funds the use of CDS has increased from 20% in 2004 to 60% in 2008. Among CDS users, the average size of CDS positions (measured by their notional values)...

Persistent link: https://www.econbiz.de/10013066896

You're fired! : new evidence on portfolio manager turnover

Kostovestsky, Leonard; Warner, Jerold B. - 2011 - 1. draft: March 2011

We study managerial turnover for both internally managed mutual funds and those managed externally by subadvisors. We argue that turnover of subadvisors provides sharper tests of any underlying board and sponsor monitoring because these data are heavily weighted toward involuntary turnover. We...

Persistent link: https://www.econbiz.de/10008906029

Investors' expectations, management fees and the underperformance of mutual funds

Huesler, Andreas D.; Malevergne, Yannick; Sornette, Didier - 2012

Why do investors keep buying underperforming mutual funds? To address this issue, we develop a one-period principal-agent model with a representative investor and a fund manager in an asymmetric information framework. This model shows that the investors perception of the fund plays the key role...

Persistent link: https://www.econbiz.de/10009561613