Swing Pricing and Fragility in Open end Mutual Funds is popular PDF and ePub book, written by Dunhong Jin in 2019-11-01, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Swing Pricing and Fragility in Open end Mutual Funds can be Read Online from any device for your convenience.
Swing Pricing and Fragility in Open end Mutual Funds Book PDF Summary
How to prevent runs on open-end mutual funds? In recent years, markets have observed an innovation that changed the way open-end funds are priced. Alternative pricing rules (known as swing pricing) adjust funds’ net asset values to pass on funds’ trading costs to transacting shareholders. Using unique data on investor transactions in U.K. corporate bond funds, we show that swing pricing eliminates the first-mover advantage arising from the traditional pricing rule and significantly reduces redemptions during stress periods. The positive impact of alternative pricing rules on fund flows reverses in calm periods when costs associated with higher tracking error dominate the pricing effect.
Detail Book of Swing Pricing and Fragility in Open end Mutual Funds PDF
- Author : Dunhong Jin
- Release : 01 November 2019
- Publisher : International Monetary Fund
- ISBN : 9781513519494
- Genre : Business & Economics
- Total Page : 46 pages
- Language : English
- PDF File Size : 7,8 Mb
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