Mutual Fund Investment In Emerging Markets
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Mutual Fund Investment In Emerging Markets
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Author : Graciela Laura Kaminsky
language : en
Publisher: World Bank Publications
Release Date : 1999
Mutual Fund Investment In Emerging Markets written by Graciela Laura Kaminsky and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
January 2001 How do mutual funds behave when they invest in emerging economies? For one thing, mutual funds' flows are not stable. Withdrawals from emerging markets during recent crises were large, which squares with existing evidence of financial contagion. International mutual funds are one of the main channels for capital flows to emerging economies. Although mutual funds have become important contributors to financial market integration, little is known about their investment allocation and strategies. Kaminsky, Lyons, and Schmukler provide an overview of mutual fund activity in emerging markets. First, they describe international mutual funds' relative size, asset allocation, and country allocation. Second, they focus on fund behavior during crises, by analyzing data at the level of both investors and fund managers. Among their findings: Equity investment in emerging markets has grown rapidly in the 1990s, much of it flowing through mutual funds. Collectively, these funds hold a sizable share of market capitalization in emerging economies. Asian and Latin American funds achieved the fastest growth, but are smaller than domestic U.S. funds and world funds. When investing abroad, U.S. mutual funds invest more in equity than in bonds. World funds invest mainly in developed nations (Canada, Europe, Japan, and the United States). Ten percent of their investment is in Asia and Latin America. Mutual funds usually invest in a few countries within each region. Mutual fund investment was very responsive to the crises of the 1990s. Withdrawals from emerging markets during recent crises were large, which squares with existing evidence of financial contagion. Investments in Asian and Latin American mutual funds are volatile. Because redemptions and injections are large relative to total funds under management, funds' flows are not stable. The cash held by managers during injections and redemptions does not fluctuate significantly, so investors' actions are typically reflected in emerging market inflows and outflows. This paper--a product of Macroeconomics and Growth, Development Research Group--is part of a larger effort in the group to understand the operation of financial markets and the effects of financial globalization. The study was funded by the Bank's Research Support Budget under the research project "Mutual Funds in Emerging Markets." The authors may be contacted at [email protected], lyons@haas. berkeley.edu, or [email protected].
Mutual Fund Investment In Emerging Markets An Overview
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Author : Graciela Kaminsky
language : en
Publisher:
Release Date : 2017
Mutual Fund Investment In Emerging Markets An Overview written by Graciela Kaminsky and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
International mutual funds are one of the main channels for capital flows to emerging economies. Although mutual funds have become important contributors to financial market integration, little is known about their investment allocation, and strategies. The authors provide an overview of mutual fund activity in emerging markets. First, they describe international mutual funds' relative size, asset allocation, and country allocation. Second, they focus on fund behavior during crises, by analyzing data at the level of both investors, and fund managers. Among their findings: Equity investment in emerging markets has grown rapidly in the 1990s, much of it flowing through mutual funds. Collectively, these funds hold a sizable share of market capitalization in emerging economies. Asian, and Latin American funds achieved the fastest growth, but are smaller than domestic U.S. funds and world funds. When investigating abroad, U.S. mutual funds invest more in equity than in bonds. World funds invest mainly in developed nations (Canada, Europe, Japan, and the United States). Ten percent of their investment is in Asia, and Latin America. Mutual funds usually invest in a few countries within each region. Mutual fund investment was very responsive to the crises of the 1990s. Withdrawals from emerging markets during recent crises were large, which squares with existing evidence of financial contagion. Investments in Asian, and Latin American mutual funds are volatile. Because redemptions, and injections are large, relative to total funds under management, fund's flows are not stable. The cash held by managers during injections, and redemptions does not fluctuate significantly, so investors' actions are typically reflected in emerging market inflows, and outflows.
Mutual Fund Investment In Emerging Markets
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Author : Graciela Laura Kaminsky
language : en
Publisher:
Release Date : 1986
Mutual Fund Investment In Emerging Markets written by Graciela Laura Kaminsky and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with categories.
The Little Book Of Emerging Markets
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Author : Mark Mobius
language : en
Publisher: John Wiley & Sons
Release Date : 2012-04-24
The Little Book Of Emerging Markets written by Mark Mobius and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-24 with Business & Economics categories.
The information you need to invest in emerging markets, in one Little Book The world's economies are in a state of flux. The traditional dominance of the G7 countries is being challenged by emerging market nations like Brazil and India, and while investment opportunities in these countries abound, the risks can be extremely high. In this Little Book, Mark Mobius, an internationally-renowned expert on emerging market funds, explains the ins and outs of emerging market investment, providing practical guidance on picking industries and companies likely to win, and explaining why policies and regulations matter as much as balance sheets, how to recognize global contenders, techniques for managing risk, and how to get out at the right time. The emerging markets are expected to be a key driver of future global economic growth, and with The Little Book of Emerging Markets in hand, you have everything you need to take full advantage of these incredible opportunities. Explains how to pick the industries and companies mostly likely to boom, why policies and regulation are key to making intelligent investment decisions, how to recognize genuine opportunities, and much more Includes invaluable techniques for managing your risk Shows you how to get your money in and out of emerging markets without being burned The Little Book of Emerging Markets is the perfect little guide to the world's most exciting investment opportunities.
Mutual Funds
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Author : Mark Mobius
language : en
Publisher: John Wiley & Sons
Release Date : 2007-03-16
Mutual Funds written by Mark Mobius and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-03-16 with Business & Economics categories.
Each book in the series cuts through the jargon and mystique of the financial markets to give the reader a clear picture of how and why these markets function as they do. Key features include: clear definitions of financial terms worked examples of transactions and contracts summaries and overviews valuation techniques quick Quiz questions to reinforce the learning experience strip cartoons to explain complex trades entertaining cartoons from Alex to lighten the load war stories and anecdotes from Mark Mobius based on his remarkable experiences other Resources section to guide the reader to other useful books, websites and reference material
Investment Funds In Emerging Markets
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Author : Teresa Barger
language : en
Publisher: World Bank Publications
Release Date : 1996-01-01
Investment Funds In Emerging Markets written by Teresa Barger and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-01-01 with Business & Economics categories.
World Bank Discussion Paper No. 326. Draws on the successful experiences of five East Asian economies--Japan, the Republic of Korea, Singapore, Taiwan (China), and Hong Kong--to show how they have exploited the opportunities made possible by the information technology revolution and built sustainable competitive advantages in many high-value-added industries and services. The study examines the role of government in unleashing private-sector response, promoting the information technology industry, diffusing technology, and focusing resources on strategic elements of the national information infrastructure. It also explores the role of the private sector in influencing the development and use of the new technologies.
International Mutual Funds Capital Flow Volatility And Contagion A Survey
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Author : Mr.R. Gelos
language : en
Publisher: International Monetary Fund
Release Date : 2011-04-01
International Mutual Funds Capital Flow Volatility And Contagion A Survey written by Mr.R. Gelos and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04-01 with Business & Economics categories.
Gaining a better understanding of the behavior of international investors is key for informing the debate about the optimal response to capital flows and about reforms to the international financial architecture. In this context, recent research on the behavior of international mutual funds at the micro level has expanded our knowledge about the drivers of portfolio flows and the mechanisms behind the transmission of financial shocks across countries. This paper provides a brief survey of this literature, with a focus on the empirical evidence for emerging markets. Overall, the behavior of international mutual funds is complex and overly simplistic characterizations are misleading. However, there is broad-based evidence for momentum trading among funds. Moreover, funds tend to avoid opaque markets and assets, and this behavior becomes more pronounced during volatile times. Portfolio rebalancing mechanisms are clearly important in explaining contagion patterns, even in the absence of common macroeconomic fundamentals. From a surveillance point of view, this implies that monitoring the exposures of large investors at a micro level is crucial to assess vulnerabilities.
Emerging Market Portfolio Flows
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Author : Mr.Serkan Arslanalp
language : en
Publisher: International Monetary Fund
Release Date : 2015-12-17
Emerging Market Portfolio Flows written by Mr.Serkan Arslanalp and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-17 with Business & Economics categories.
Portfolio flows to emerging markets (EMs) tend to be correlated. A possible explanation is the role global benchmarks play in allocating capital internationally, the so-called “benchmark effect.” This paper finds that benchmark-driven investors indeed play a large role in a key segment of the market—the EM local currency government bond market—, accounting for more than one third of total foreign holdings as of end-2014. We find that the prominence of these investors declined somewhat after the May 2013 taper tantrum, but remain high. This distinction is important in understanding the drivers of EM capital flows and their sensitivity to different types of shocks. In particular, a high share of benchmark-driven investors may result in capital flows that are more sensitive to global shocks and less sensitive to country factors.
Mutual Funds And Exchange Traded Funds
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Author : H. Kent Baker
language : en
Publisher: Financial Markets and Investme
Release Date : 2015-11-18
Mutual Funds And Exchange Traded Funds written by H. Kent Baker and has been published by Financial Markets and Investme this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-18 with Business & Economics categories.
This publication offers a synthesis of the theoretical and empirical literature primarily on mutual funds but also discusses related investment vehicles, especially ETFs. Noted scholars and practitioners write chapters in their areas of expertise.
The Role Of Mature Market Mutual Funds In Emerging Markets
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Author : Ms.Li L. Ong
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2004-07-01
The Role Of Mature Market Mutual Funds In Emerging Markets written by Ms.Li L. Ong and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-07-01 with Business & Economics categories.
The expansion of the global mutual funds industry has been characterized by growth in mature as well as emerging markets. This has clearly contributed to the development of local securities markets in emerging market economies, which in turn, has been key in attracting investment inflows from overseas funds. A major concern, however, is that large foreign investors could significantly disrupt the stability of local capital markets in the event of a market shock, with systemic implications for the real economy. Our estimates suggest that while local investors remain the more important group in terms of market share, the influence of foreign funds cannot be discounted. Asset allocation decisions by mature market funds- both dedicated and crossover-in aggregate, could affect emerging markets. In particular, European mutual funds appear to play a much bigger role in emerging markets than their U.S. counterparts.