登入選單
返回Google圖書搜尋
Changes in the Global Investor Base and the Stability of Portfolio Flows to Emerging Markets
Mr.Luis Brandao-MarquesMr.R. GelosHibiki IchiueMs.Hiroko Oura
出版International Monetary Fund, 2015-12-28
主題Business & Economics / Investments & Securities / BondsBusiness & Economics / Industries / Financial ServicesBusiness & Economics / Investments & Securities / Stocks
ISBN15135141059781513514109
URLhttp://books.google.com.hk/books?id=qOKoCwAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋An analysis of mutual-fund-level flow data into EM bond and equity markets confirms that different types of funds behave differently. Bond funds are more sensitive to global factors and engage more in return chasing than equity funds. Flows from retail, open-end, and offshore funds are more volatile. Global funds are more stable in their EM investments than “dedicated” EM funds. Differences in the stability of flows from ultimate investors play a key role in explaining these patterns. The changing mix of global investors over the past 15 year has probably made portfolio flows to EMs more sensitive to global financial conditions.