Using a unique data set on quarterly European net fund flows combined with stock market data drawn from publicly available sources, this article seeks to determine whether stock market performance influences investment fund flows and whether fund flows affect stock market performance. Given that...

During the last decade, economic integration, geopolitical developments and regulatory change have transformed the European asset management industry. But while the industry has evolved, academic research has not kept pace. During the last ten years or so, the lack of systematic research on the...