Find a penny and pick it up: capitalizing on mutual fund rounding

Lee Redding

Applied Financial Economics Letters, 2008, vol. 4, issue 1, 1-3

Abstract: Mutual funds whose share prices are not calculated with enough precision face the danger of opportunistic trading. This fact is documented empirically with respect to the Government Securities Investment Fund (G Fund), a part of the defined contribution plan run by the US federal government for its employees. The results are important both for policymakers and for mutual fund management.

Date: 2008
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DOI: 10.1080/17446540701222367

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