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Betreiben Indexfonds Agrarspekulation? Erläuterungen zum Geschäftsmodell und zum weiteren Forschungsbedarf
[Do index funds speculate on agricultural futures markets? Explanatory notes on the business model and the additional need for research]

Listed author(s):
  • Prehn, Sören
  • Glauben, Thomas
  • Pies, Ingo
  • Will, Matthias Georg
  • Loy, Jens-Peter

Indexfonds sind aufgrund ihrer Terminmarktgeschäfte mit Agrarrohstoffen ins Zentrum öffentlicher Aufmerksamkeit und Kritik geraten. Hierzu kursieren in den Medien zahlreiche Falschinformationen, deren Korrektur sich durch klar identifizierbare Forschungslücken der empirischen Literatur verzögert hat. Gleichwohl können folgende Erkenntnisse helfen, die Debatte zu versachlichen: Indexfonds folgen einer passiven Handelsstrategie. Sie zeichnen einen Markttrend nach. Hiervon geht eine preisstabilisierende Wirkung aus. Deshalb ist zu befürchten, dass regulatorische Einschränkungen der Geschäftsaktivität von Indexfonds in Form von strengen Positionslimits oder Preislimits der Funktionsweise von Terminmärkten nicht zuträglich, sondern abträglich sind.

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Paper provided by Leibniz Institute of Agricultural Development in Transition Economies (IAMO) in its series IAMO Discussion Papers with number 138.

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Date of creation: 2013
Handle: RePEc:zbw:iamodp:138
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