Day Trading International Mutual Funds: Evidence And Policy Solutions

William Goetzmann, Zoran Ivkovich and K. Rouwenhorst

Yale School of Management Working Papers from Yale School of Management

Abstract: Daily pricing of mutual funds provides liquidity to investors but is subject to valuation errors due to the inability to observe synchronous, fair security prices at the end of the trading day. This may hurt fund investors if speculators strategically seek to exploit mispricing or if the net flow of money into funds is correlated with these pricing errors. We show that mutual funds are exposed to speculative traders by usin

Date: 2000-04-01, Revised 2001-06-01
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