Seasonal asset allocation: Evidence from mutual fund flows

Research, Preprint English OPEN
Kamstra, Mark J.; Kramer, Lisa A.; Levi, Maurice D.; Wermers, Russ;
(2013)
  • Publisher: Cologne: University of Cologne, Centre for Financial Research (CFR)
  • Subject: sentiment | net ows | risk aversion | mutual fund ow seasonality | G11 | net exchanges | time-varying risk aversion | time-varying risk aversion,sentiment,mutual fund ow seasonality,net exchanges,net ows,risk tolerance,risk aversion | risk tolerance
    • jel: jel:G11
      ddc: ddc:330

Over the past 30 years, mutual funds have become the dominant vehicle through which individual investors prepare for retirement via defined contribution plans. Further, money market mutual funds, which hold $2.7 trillion as of September 2013, are now a major part of the... View more
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