Home Bias at the Fund Level

Helene Rey and Harald Hau

No 6721, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: 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.

Keywords: Asset allocation; Diversification; Investment behaviour (search for similar items in EconPapers)
JEL-codes: F37 G11 G15 G23 (search for similar items in EconPapers)
Date: 2008-03
New Economics Papers: this item is included in nep-cfn
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (67)

Downloads: (external link)
https://cepr.org/publications/DP6721 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: Home Bias at the Fund Level (2008)
Working Paper: Home Bias at the Fund Level (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:6721

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP6721
orders@cepr.org

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by (repec@cepr.org).