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

In: Asia-Pacific fixed income markets: evolving structure, participation and pricing

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  • Cho-Hoi Hui

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?

Suggested Citation

  • Cho-Hoi Hui, 2019. "Emerging market bond funds: flow-performance relationship and long-term institutional investors," BIS Papers chapters, in: Bank for International Settlements (ed.), Asia-Pacific fixed income markets: evolving structure, participation and pricing, volume 102, pages 147-152, Bank for International Settlements.
    • Handle: RePEc:bis:bisbpc:102-17
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