Liquidity risk within mutual funds is caused by a lack of ready cash to properly handle shareholder transactions. Funds have to stand ready at all times to process redemption requests as they come in, and should have either cash on hand or securities readily able to be converted to cash. In...
BlackRock, the world’s largest asset manager, questions the effectiveness of system-wide stress tests. It says that the variety of investment strategies undertaken by mutual funds and differences in the business models of asset managers cannot be assessed properly using stress tests. It also argues...
Since our empirical results confirm that liquidity and prices influences each other, we decide to investigate the formation of investors' choices through a theoretical model that embeds liquidity, risk and return expectations in the pricing of mutual funds. We model net flows at fund-level and we...
MUMBAI, April 27 (Xinhua) -- India's central bank has announced a special liquidity facility of 6.57 billion U.S. dollars to ease liquidity pressure on mutual funds in anticipation of redemption pressure amid the COVID-19 pandemic, a bank statement said Monday. The liquidity initiative to the...
共同基金(Mutual funds):流动性风险较低。 养老金基金(Pension funds):风险暴露较小。 财产/意外保险公司(Property/casualty insurance companies):这类保险公司的风险暴露程度也较低。 健全流动性风险管理原则 国际清算银行(BIS)提出了健全流动性风险管理原则 ...
Do Mutual Funds and ETFs Affect the Commonality in Liquidity of Corporate Bonds? The paper studies the effect of demand-side sources on the commonality in liquidity of corporate bonds as the growing mutual fund and ETF ownership in the ... E Teliolu - 《Swiss Finance Institute Research Paper...
After controlling for stock liquidity mutual funds in the high bond liquidity beta decile outperform funds in the low bond liquidity beta decile by 5.5 % per annum. This premium is observed across active equity and corporate bond funds and varies based on the fund's style. Funds sorted into ...
In December 2018, the Securities and Exchange Commission (SEC) began issuing new rules related to mutual fund liquidity management and monitoring funds' adherence to these rules. Understanding a Mutual Fund Liquidity Ratio A mutual fund liquidity ratio is reported bymutual fundsto provide investors wi...
Not exactly. ETFs and mutual funds have different liquidity profiles. Unlike ETFs, which are traded on exchanges like stocks,mutual fundshares are bought and sold directly with the fund at the day's closing NAV. The real-time trading feature of ETFs provides intraday liquidity, allowing investors...
1.Hedge fund vs mutual funds 2.Survival bias/self-selection bias/backfill bias=instant history 3.Strategy -Directional strategies: Managed futures (leverage) Global macro(currency) -Event-Driven strategies: Risk arbitrage:acquisition Distressed security ...