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Determinants of flows into retail international equity funds

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  • Xinge Zhao

    (China Europe International Business School, Shanghai, China)

Abstract

Diversification benefits appear to be a major reason why investors choose international equity funds. Funds less correlated with the US market tend to receive higher flows from investors. In addition, investors prefer funds that invest in a diversified portfolio of securities from different regions in the world to funds that focus only on a specific region. Risk-adjusted return is shown to exert greater effect on flows into international equity funds than raw return. International equity funds from fund families offering a greater number of investment objectives also receive higher flows. On the other hand, international equity fund investors do not appear to be sensitive to expenses or exchange rates. Journal of International Business Studies (2008) 39, 1169–1177. doi:10.1057/palgrave.jibs.8400408

Suggested Citation

  • Xinge Zhao, 2008. "Determinants of flows into retail international equity funds," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 39(7), pages 1169-1177, October.
    • Handle: RePEc:pal:jintbs:v:39:y:2008:i:7:p:1169-1177
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    Citations

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    Cited by:

    1. Chaehee Shin, 2014. "An Industrial Organization Approach to International Portfolio Diversification: Evidence from the U.S. Mutual Fund Families," Finance and Economics Discussion Series 2014-78, Board of Governors of the Federal Reserve System (U.S.).
    2. Forbes, Kristin J., 2010. "Why do foreigners invest in the United States?," Journal of International Economics, Elsevier, vol. 80(1), pages 3-21, January.
    3. Steven J. Jordan & Andrew Vivian & Mark E. Wohar, 2015. "Location, location, location: currency effects and return predictability?," Applied Economics, Taylor & Francis Journals, vol. 47(18), pages 1883-1898, April.
    4. Shumi Akhtar & Farida Akhtar & Maria Jahromi & Kose John, 2023. "Volatility linkages and value gains from diversifying with Islamic assets," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(8), pages 1495-1528, October.
    5. Arbaa, Ofer & Varon, Eva, 2019. "The performance and fund flows of name-change funds," Journal of Behavioral and Experimental Finance, Elsevier, vol. 22(C), pages 7-13.

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