Mutual Fund Investment in Emerging Markets : An Overview
International mutual funds are key contributors to the globalization of financial markets and one of the main sources of capital flows to emerging economies. Despite their importance in emerging markets, little is known about their investment alloc...
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| Format: | Journal Article |
| Language: | English en_US |
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Washington, DC: World Bank
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2001/05/17737431/mutual-fund-investment-emerging-markets-overview http://hdl.handle.net/10986/17442 |
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okr-10986-17442 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
ACCOUNTING AGGREGATE ASSETS AGGREGATE VALUES ASSET ALLOCATION ASSET CLASSES ASSET HOLDINGS ASSET TYPE ASSETS ASYMMETRIC INFORMATION BANK LENDING BANK LOANS BEHAVIOR OF MANAGERS BEHAVIOR OF MUTUAL FUND BEHAVIOR OF MUTUAL FUNDS BENCHMARK BENCHMARK INDICES BOND BOND FLOWS BOND FUNDS BONDS CAPITAL FLOWS CAPITAL GAINS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKET CONTAGION CAPITAL MARKETS CASH FLOW CASH FLOWS CLOSED-END FUNDS COUNTRY PORTFOLIOS CREDIT LINES CRISIS COUNTRIES CURRENCY CURRENCY CRISES CURRENCY CRISIS CURRENCY TURMOIL DEBT DEBT CRISIS DEPOSITARY RECEIPTS DEVALUATION DEVELOPING COUNTRIES DISCLOSURES DIVERSIFICATION DOMESTIC MUTUAL FUNDS EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET EQUITY EMERGING MARKET FUND EMERGING MARKET FUND ASSETS EMERGING MARKET FUNDS EMERGING MARKET INFLOWS EMERGING MARKET SHARES EMERGING MARKETS EQUITIES EQUITY FLOW EQUITY FLOWS EQUITY FUNDS EQUITY INVESTMENT EQUITY MARKETS EQUITY MUTUAL FUNDS EQUITY PENSION FUNDS ESTIMATES FOR HEDGE FUNDS EXCHANGE COMMISSION FEEDBACK TRADING FINANCIAL CONTAGION FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SUPPORT FOREIGN BONDS FOREIGN DIRECT INVESTMENT FOREIGN INVESTOR FOREIGN INVESTOR BEHAVIOUR FOREIGN INVESTORS FOREIGN MUTUAL FUNDS FUND BEHAVIOR FUND MANAGER FUND MANAGERS FUND NET FUND OUTFLOWS FUND SHARES FUND SIZE FUND TYPE FUND TYPES GLOBAL ASSETS GLOBAL FUNDS GLOBALIZATION HEDGE FUNDS HOLDING ILLIQUID MARKETS INDEX FUNDS INDIVIDUAL INVESTORS INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL DIVERSIFICATION INTERNATIONAL FINANCE INTERNATIONAL FUNDS INTERNATIONAL INSTITUTIONAL INVESTORS INTERNATIONAL INSTRUMENTS INTERNATIONAL INVESTORS INTERNATIONAL LENDING INTERNATIONAL MARKET INTERNATIONAL MUTUAL FUNDS INTERNATIONAL PORTFOLIOS INTERNATIONAL SETTLEMENTS INVESTING INVESTMENT ALLOCATION INVESTMENT BEHAVIOR INVESTMENT CAPITAL INVESTMENT COMPANY INVESTMENT PORTFOLIO INVESTOR BEHAVIOR INVESTOR RETRENCHMENT LARGE FUNDS LARGE INVESTORS LENDER LENDERS LEVY LIFE INSURANCE LIQUID ASSETS LIQUIDITY LIQUIDITY SQUEEZES LOCAL MARKET LOCAL STOCK MARKETS MACROECONOMIC RISKS MARKET CAPITALIZATION MONETARY FUND MONEY MARKET MONEY MARKET FUNDS MUTUAL FUND MUTUAL FUND ACTIVITY MUTUAL FUND ASSETS MUTUAL FUND BEHAVIOR MUTUAL FUND CATEGORY MUTUAL FUND DATA MUTUAL FUND FLOWS MUTUAL FUND GROWTH MUTUAL FUND INDUSTRY MUTUAL FUND INVESTMENT MUTUAL FUND INVESTORS MUTUAL FUND MANAGERS MUTUAL FUND PORTFOLIO MUTUAL FUND PORTFOLIOS MUTUAL FUND SHAREHOLDER MUTUAL FUND SHARES MUTUAL FUND STRATEGIES MUTUAL FUND UNIVERSE MUTUAL FUND WITHDRAWALS NET ASSET NET ASSET VALUE NET ASSET VALUES NET ASSETS NUMBER OF SHARES OFFSHORE FUNDS OPEN-END FUNDS OPEN-END MUTUAL FUNDS OUTSTANDING SHARES PENSION PENSION FUND PENSION FUND INVESTMENT PENSION FUNDS PORTFOLIO PORTFOLIO ALLOCATION PORTFOLIO CHANGES PORTFOLIO FLOWS PORTFOLIO HOLDINGS PORTFOLIO INVESTMENT PORTFOLIO INVESTORS PORTFOLIO SIZE PORTFOLIOS POSITIVE-FEEDBACK TRADING PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PROPRIETARY TRADING PUBLIC FUNDS RATIONAL INVESTORS REAL INTEREST REAL INTEREST RATES REDEMPTION REDEMPTIONS REGIONAL FUNDS RETURNS RISK FACTORS SALE OF ASSETS SECURITIES SECURITIES MARKETS SHAREHOLDERS SHORT-TERM PORTFOLIO SINGLE-COUNTRY FUNDS SMALL FUNDS SPECULATIVE ATTACK SPECULATIVE ATTACKS STOCK EXCHANGE STOCK FUNDS STOCK MARKET STOCK MARKET CAPITALIZATION STOCK MARKETS STOCK PRICES STOCKS TRANSITION ECONOMIES TREASURY BILLS UNINFORMED INVESTORS VOLATILITY WORLD FUNDS WORLD MUTUAL FUNDS |
| spellingShingle |
ACCOUNTING AGGREGATE ASSETS AGGREGATE VALUES ASSET ALLOCATION ASSET CLASSES ASSET HOLDINGS ASSET TYPE ASSETS ASYMMETRIC INFORMATION BANK LENDING BANK LOANS BEHAVIOR OF MANAGERS BEHAVIOR OF MUTUAL FUND BEHAVIOR OF MUTUAL FUNDS BENCHMARK BENCHMARK INDICES BOND BOND FLOWS BOND FUNDS BONDS CAPITAL FLOWS CAPITAL GAINS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKET CONTAGION CAPITAL MARKETS CASH FLOW CASH FLOWS CLOSED-END FUNDS COUNTRY PORTFOLIOS CREDIT LINES CRISIS COUNTRIES CURRENCY CURRENCY CRISES CURRENCY CRISIS CURRENCY TURMOIL DEBT DEBT CRISIS DEPOSITARY RECEIPTS DEVALUATION DEVELOPING COUNTRIES DISCLOSURES DIVERSIFICATION DOMESTIC MUTUAL FUNDS EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET EQUITY EMERGING MARKET FUND EMERGING MARKET FUND ASSETS EMERGING MARKET FUNDS EMERGING MARKET INFLOWS EMERGING MARKET SHARES EMERGING MARKETS EQUITIES EQUITY FLOW EQUITY FLOWS EQUITY FUNDS EQUITY INVESTMENT EQUITY MARKETS EQUITY MUTUAL FUNDS EQUITY PENSION FUNDS ESTIMATES FOR HEDGE FUNDS EXCHANGE COMMISSION FEEDBACK TRADING FINANCIAL CONTAGION FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SUPPORT FOREIGN BONDS FOREIGN DIRECT INVESTMENT FOREIGN INVESTOR FOREIGN INVESTOR BEHAVIOUR FOREIGN INVESTORS FOREIGN MUTUAL FUNDS FUND BEHAVIOR FUND MANAGER FUND MANAGERS FUND NET FUND OUTFLOWS FUND SHARES FUND SIZE FUND TYPE FUND TYPES GLOBAL ASSETS GLOBAL FUNDS GLOBALIZATION HEDGE FUNDS HOLDING ILLIQUID MARKETS INDEX FUNDS INDIVIDUAL INVESTORS INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL DIVERSIFICATION INTERNATIONAL FINANCE INTERNATIONAL FUNDS INTERNATIONAL INSTITUTIONAL INVESTORS INTERNATIONAL INSTRUMENTS INTERNATIONAL INVESTORS INTERNATIONAL LENDING INTERNATIONAL MARKET INTERNATIONAL MUTUAL FUNDS INTERNATIONAL PORTFOLIOS INTERNATIONAL SETTLEMENTS INVESTING INVESTMENT ALLOCATION INVESTMENT BEHAVIOR INVESTMENT CAPITAL INVESTMENT COMPANY INVESTMENT PORTFOLIO INVESTOR BEHAVIOR INVESTOR RETRENCHMENT LARGE FUNDS LARGE INVESTORS LENDER LENDERS LEVY LIFE INSURANCE LIQUID ASSETS LIQUIDITY LIQUIDITY SQUEEZES LOCAL MARKET LOCAL STOCK MARKETS MACROECONOMIC RISKS MARKET CAPITALIZATION MONETARY FUND MONEY MARKET MONEY MARKET FUNDS MUTUAL FUND MUTUAL FUND ACTIVITY MUTUAL FUND ASSETS MUTUAL FUND BEHAVIOR MUTUAL FUND CATEGORY MUTUAL FUND DATA MUTUAL FUND FLOWS MUTUAL FUND GROWTH MUTUAL FUND INDUSTRY MUTUAL FUND INVESTMENT MUTUAL FUND INVESTORS MUTUAL FUND MANAGERS MUTUAL FUND PORTFOLIO MUTUAL FUND PORTFOLIOS MUTUAL FUND SHAREHOLDER MUTUAL FUND SHARES MUTUAL FUND STRATEGIES MUTUAL FUND UNIVERSE MUTUAL FUND WITHDRAWALS NET ASSET NET ASSET VALUE NET ASSET VALUES NET ASSETS NUMBER OF SHARES OFFSHORE FUNDS OPEN-END FUNDS OPEN-END MUTUAL FUNDS OUTSTANDING SHARES PENSION PENSION FUND PENSION FUND INVESTMENT PENSION FUNDS PORTFOLIO PORTFOLIO ALLOCATION PORTFOLIO CHANGES PORTFOLIO FLOWS PORTFOLIO HOLDINGS PORTFOLIO INVESTMENT PORTFOLIO INVESTORS PORTFOLIO SIZE PORTFOLIOS POSITIVE-FEEDBACK TRADING PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PROPRIETARY TRADING PUBLIC FUNDS RATIONAL INVESTORS REAL INTEREST REAL INTEREST RATES REDEMPTION REDEMPTIONS REGIONAL FUNDS RETURNS RISK FACTORS SALE OF ASSETS SECURITIES SECURITIES MARKETS SHAREHOLDERS SHORT-TERM PORTFOLIO SINGLE-COUNTRY FUNDS SMALL FUNDS SPECULATIVE ATTACK SPECULATIVE ATTACKS STOCK EXCHANGE STOCK FUNDS STOCK MARKET STOCK MARKET CAPITALIZATION STOCK MARKETS STOCK PRICES STOCKS TRANSITION ECONOMIES TREASURY BILLS UNINFORMED INVESTORS VOLATILITY WORLD FUNDS WORLD MUTUAL FUNDS Kaminsky, Graciela L. Lyons, Richard K. Schmukler, Sergio L. Mutual Fund Investment in Emerging Markets : An Overview |
| description |
International mutual funds are key
contributors to the globalization of financial markets and
one of the main sources of capital flows to emerging
economies. Despite their importance in emerging markets,
little is known about their investment allocation and
strategies. This article provides an overview of mutual fund
activity in emerging markets. It describes their size, asset
allocation, and country allocation and then focuses on their
behavior during crises in emerging markets in the 1990s. It
analyzes data at both the fund-manager and fund-investor
levels. Due to large redemptions and injections, funds'
flows are not stable. Withdrawals from emerging markets
during recent crises were large, which is consistent with
the evidence on financial contagion. |
| format |
Journal Article |
| author |
Kaminsky, Graciela L. Lyons, Richard K. Schmukler, Sergio L. |
| author_facet |
Kaminsky, Graciela L. Lyons, Richard K. Schmukler, Sergio L. |
| author_sort |
Kaminsky, Graciela L. |
| title |
Mutual Fund Investment in Emerging Markets : An Overview |
| title_short |
Mutual Fund Investment in Emerging Markets : An Overview |
| title_full |
Mutual Fund Investment in Emerging Markets : An Overview |
| title_fullStr |
Mutual Fund Investment in Emerging Markets : An Overview |
| title_full_unstemmed |
Mutual Fund Investment in Emerging Markets : An Overview |
| title_sort |
mutual fund investment in emerging markets : an overview |
| publisher |
Washington, DC: World Bank |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2001/05/17737431/mutual-fund-investment-emerging-markets-overview http://hdl.handle.net/10986/17442 |
| _version_ |
1764433159070416896 |
| spelling |
okr-10986-174422021-04-23T14:03:29Z Mutual Fund Investment in Emerging Markets : An Overview Kaminsky, Graciela L. Lyons, Richard K. Schmukler, Sergio L. ACCOUNTING AGGREGATE ASSETS AGGREGATE VALUES ASSET ALLOCATION ASSET CLASSES ASSET HOLDINGS ASSET TYPE ASSETS ASYMMETRIC INFORMATION BANK LENDING BANK LOANS BEHAVIOR OF MANAGERS BEHAVIOR OF MUTUAL FUND BEHAVIOR OF MUTUAL FUNDS BENCHMARK BENCHMARK INDICES BOND BOND FLOWS BOND FUNDS BONDS CAPITAL FLOWS CAPITAL GAINS CAPITAL INFLOWS CAPITAL MARKET CAPITAL MARKET CONTAGION CAPITAL MARKETS CASH FLOW CASH FLOWS CLOSED-END FUNDS COUNTRY PORTFOLIOS CREDIT LINES CRISIS COUNTRIES CURRENCY CURRENCY CRISES CURRENCY CRISIS CURRENCY TURMOIL DEBT DEBT CRISIS DEPOSITARY RECEIPTS DEVALUATION DEVELOPING COUNTRIES DISCLOSURES DIVERSIFICATION DOMESTIC MUTUAL FUNDS EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET EQUITY EMERGING MARKET FUND EMERGING MARKET FUND ASSETS EMERGING MARKET FUNDS EMERGING MARKET INFLOWS EMERGING MARKET SHARES EMERGING MARKETS EQUITIES EQUITY FLOW EQUITY FLOWS EQUITY FUNDS EQUITY INVESTMENT EQUITY MARKETS EQUITY MUTUAL FUNDS EQUITY PENSION FUNDS ESTIMATES FOR HEDGE FUNDS EXCHANGE COMMISSION FEEDBACK TRADING FINANCIAL CONTAGION FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL SUPPORT FOREIGN BONDS FOREIGN DIRECT INVESTMENT FOREIGN INVESTOR FOREIGN INVESTOR BEHAVIOUR FOREIGN INVESTORS FOREIGN MUTUAL FUNDS FUND BEHAVIOR FUND MANAGER FUND MANAGERS FUND NET FUND OUTFLOWS FUND SHARES FUND SIZE FUND TYPE FUND TYPES GLOBAL ASSETS GLOBAL FUNDS GLOBALIZATION HEDGE FUNDS HOLDING ILLIQUID MARKETS INDEX FUNDS INDIVIDUAL INVESTORS INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INSURANCE COMPANIES INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL DIVERSIFICATION INTERNATIONAL FINANCE INTERNATIONAL FUNDS INTERNATIONAL INSTITUTIONAL INVESTORS INTERNATIONAL INSTRUMENTS INTERNATIONAL INVESTORS INTERNATIONAL LENDING INTERNATIONAL MARKET INTERNATIONAL MUTUAL FUNDS INTERNATIONAL PORTFOLIOS INTERNATIONAL SETTLEMENTS INVESTING INVESTMENT ALLOCATION INVESTMENT BEHAVIOR INVESTMENT CAPITAL INVESTMENT COMPANY INVESTMENT PORTFOLIO INVESTOR BEHAVIOR INVESTOR RETRENCHMENT LARGE FUNDS LARGE INVESTORS LENDER LENDERS LEVY LIFE INSURANCE LIQUID ASSETS LIQUIDITY LIQUIDITY SQUEEZES LOCAL MARKET LOCAL STOCK MARKETS MACROECONOMIC RISKS MARKET CAPITALIZATION MONETARY FUND MONEY MARKET MONEY MARKET FUNDS MUTUAL FUND MUTUAL FUND ACTIVITY MUTUAL FUND ASSETS MUTUAL FUND BEHAVIOR MUTUAL FUND CATEGORY MUTUAL FUND DATA MUTUAL FUND FLOWS MUTUAL FUND GROWTH MUTUAL FUND INDUSTRY MUTUAL FUND INVESTMENT MUTUAL FUND INVESTORS MUTUAL FUND MANAGERS MUTUAL FUND PORTFOLIO MUTUAL FUND PORTFOLIOS MUTUAL FUND SHAREHOLDER MUTUAL FUND SHARES MUTUAL FUND STRATEGIES MUTUAL FUND UNIVERSE MUTUAL FUND WITHDRAWALS NET ASSET NET ASSET VALUE NET ASSET VALUES NET ASSETS NUMBER OF SHARES OFFSHORE FUNDS OPEN-END FUNDS OPEN-END MUTUAL FUNDS OUTSTANDING SHARES PENSION PENSION FUND PENSION FUND INVESTMENT PENSION FUNDS PORTFOLIO PORTFOLIO ALLOCATION PORTFOLIO CHANGES PORTFOLIO FLOWS PORTFOLIO HOLDINGS PORTFOLIO INVESTMENT PORTFOLIO INVESTORS PORTFOLIO SIZE PORTFOLIOS POSITIVE-FEEDBACK TRADING PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PROPRIETARY TRADING PUBLIC FUNDS RATIONAL INVESTORS REAL INTEREST REAL INTEREST RATES REDEMPTION REDEMPTIONS REGIONAL FUNDS RETURNS RISK FACTORS SALE OF ASSETS SECURITIES SECURITIES MARKETS SHAREHOLDERS SHORT-TERM PORTFOLIO SINGLE-COUNTRY FUNDS SMALL FUNDS SPECULATIVE ATTACK SPECULATIVE ATTACKS STOCK EXCHANGE STOCK FUNDS STOCK MARKET STOCK MARKET CAPITALIZATION STOCK MARKETS STOCK PRICES STOCKS TRANSITION ECONOMIES TREASURY BILLS UNINFORMED INVESTORS VOLATILITY WORLD FUNDS WORLD MUTUAL FUNDS International mutual funds are key contributors to the globalization of financial markets and one of the main sources of capital flows to emerging economies. Despite their importance in emerging markets, little is known about their investment allocation and strategies. This article provides an overview of mutual fund activity in emerging markets. It describes their size, asset allocation, and country allocation and then focuses on their behavior during crises in emerging markets in the 1990s. It analyzes data at both the fund-manager and fund-investor levels. Due to large redemptions and injections, funds' flows are not stable. Withdrawals from emerging markets during recent crises were large, which is consistent with the evidence on financial contagion. 2014-03-27T21:11:51Z 2014-03-27T21:11:51Z 2001-05 Journal Article http://documents.worldbank.org/curated/en/2001/05/17737431/mutual-fund-investment-emerging-markets-overview World Bank Economic Review http://hdl.handle.net/10986/17442 English en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Journal Article |