Home Bias at the Fund Level

This paper presents new stylized facts on the distribution of the home bias at the fund level. We find (i) a large heterogeneity in the degree of home bias across mutual funds; (ii) a positive correlation between the size of funds and home bias; and (iii) a positive correlation between the size of funds, the number of foreign countries and the number of sectors in which they invest. These facts constitute a challenge for existing theories.

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Year of publication:	2008-03
Authors:	Hau, Harald ; Rey, Hélène
Institutions:	C.E.P.R. Discussion Papers
Subject:	asset allocation \| diversification \| investment behaviour

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Extent:	application/pdf
Series:	CEPR Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Number 6721
Classification:	F37 - International Finance Forecasting and Simulation ; G11 - Portfolio Choice ; G15 - International Financial Markets ; G23 - Pension Funds; Other Private Financial Institutions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005791444