publication . Other literature type . Article . 2015

Defined Contribution Pension Plans: Mutual Fund Asset Allocation Changes

Clemens Sialm; Laura T. Starks; Hanjiang Zhang;
Open Access
  • Published: 01 May 2015
  • Publisher: American Economic Association
Abstract
<jats:p> In this paper we compare changes in asset allocations between mutual funds held in defined contribution pension plans and funds held by other investors. We investigate how flows into equity and fixed income mutual funds depend on macroeconomic conditions. We find that defined contribution plans react more sensitively to these conditions, suggesting effects on mutual fund managers and other investors. </jats:p>
Subjects
free text keywords: Economics and Econometrics, jel:E44, jel:G23, jel:J26, jel:J32, Economics, Finance, business.industry, business, Target date fund, Global assets under management, Closed-end fund, Stable value fund, Mutual fund separation theorem, Mutual fund, Fund of funds, Open-end fund
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