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http://hdl.handle.net/10419/56284
  

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dc.contributor.authorEngström, Stefanen_US
dc.contributor.authorWesterberg, Annaen_US
dc.date.accessioned2012-03-28T13:08:32Z-
dc.date.available2012-03-28T13:08:32Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/56284-
dc.description.abstractThis paper examines how investor and capital flows into mutual funds in the Swedish pension system are related to fund characteristics. Similarly to U.S. studies, we show that individuals chase past returns and have a strong preference for lower-fee funds. However, our results suggest that past returns are less important than previous studies suggest. A more important determinant of fund inflows is information costs. For instance, foreign-based funds with a track record similar to that of domestic funds attract fewer investors and receive less capital. Moreover, new funds without a track record also receive lower inflows.en_US
dc.language.isoengen_US
dc.publisherEkonomiska Forskningsinst. Stockholmen_US
dc.relation.ispartofseriesSSE/EFI Working Paper Series in Economics and Finance 555en_US
dc.subject.jelG11en_US
dc.subject.jelG23en_US
dc.subject.jelH55en_US
dc.subject.ddc330en_US
dc.subject.keywordFlowsen_US
dc.subject.keywordInformationen_US
dc.subject.keywordPension Systemen_US
dc.subject.keywordPortfolio Choiceen_US
dc.subject.stwInvestmentfondsen_US
dc.subject.stwPortfolio-Managementen_US
dc.subject.stwInformationskostenen_US
dc.subject.stwSchwedenen_US
dc.titleInformation costs and mutual fund flowsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn383856701en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics

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