Emerging market bond funds: flow-performance relationship and long-term institutional investors

Cho-Hoi Hui

A chapter in Asia-Pacific fixed income markets: evolving structure, participation and pricing, 2019, vol. 102, pp 147-152 from Bank for International Settlements

Abstract: Mutual funds investing in emerging market economy (EME) bonds have increased almost seven-fold since the 2008 Great Financial Crisis (Graph 1). This development has raised two questions from a financial stability perspective. Firstly, how important is it to understand the fund-flow performance relationship in which overperforming funds encourage inflows and underperforming ones outflows? And secondly, can long-term institutional investors (LTII) such as pension funds and insurance funds be considered a stabilising force during market sell-offs?

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:bis:bisbpc:102-17

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