Country-specific ETFs: An efficient approach to global asset allocation

Joëlle Miffre ()
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Joëlle Miffre: EDHEC Business School

Journal of Asset Management, 2007, vol. 8, issue 2, No 5, 112-122

Abstract: Abstract The paper shows that country-specific exchange traded funds (hereafter ETFs) enhance global asset allocation strategies. Because ETFs can be sold short even on a downtick, global strategies that diversify risk across country-specific ETFs generate efficiency gains that cannot be achieved by simply investing in a global index open or closed-end fund. Besides, the benefits of international diversification can be achieved with country-specific ETFs at a low cost, with a low tracking error and in a tax-efficient way. For all these reasons, country-specific ETFs may be considered as serious competitors to traditional country open and closed-end funds.

Keywords: country-specific ETFs; global asset allocation; short-selling (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1057/palgrave.jam.2250065

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