Home Bias at the Fund Level

Helene Rey and Harald Hau

No 6721, CEPR Discussion Papers from Centre for Economic Policy Research

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
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Citations: View citations in EconPapers (70)

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Journal Article: Home Bias at the Fund Level (2008)
Working Paper: Home Bias at the Fund Level (2008)
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