Day Trading International Mutual Funds: Evidence And Policy Solutions
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 of creation:||01 Apr 2000|
|Date of revision:||01 Jun 2001|
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