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dc.contributor.authorEngström, Stefanen
dc.contributor.authorWesterberg, Annaen
dc.date.accessioned2012-03-28T13:08:32Z-
dc.date.available2012-03-28T13:08:32Z-
dc.date.issued2004-
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
dc.language.isoengen
dc.publisher|aStockholm School of Economics, The Economic Research Institute (EFI) |cStockholmen
dc.relation.ispartofseries|aSSE/EFI Working Paper Series in Economics and Finance |x555en
dc.subject.jelG11en
dc.subject.jelG23en
dc.subject.jelH55en
dc.subject.ddc330en
dc.subject.keywordFlowsen
dc.subject.keywordInformationen
dc.subject.keywordPension Systemen
dc.subject.keywordPortfolio Choiceen
dc.subject.stwInvestmentfondsen
dc.subject.stwPortfolio-Managementen
dc.subject.stwInformationskostenen
dc.subject.stwSchwedenen
dc.titleInformation costs and mutual fund flows-
dc.typeWorking Paperen
dc.identifier.ppn383856701en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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