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Find a penny and pick it up: capitalizing on mutual fund rounding

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  • Lee Redding

Abstract

Mutual funds whose share prices are not calculated with enough precision face the danger of opportunistic trading. This fact is documented empirically with respect to the Government Securities Investment Fund (G Fund), a part of the defined contribution plan run by the US federal government for its employees. The results are important both for policymakers and for mutual fund management.

Suggested Citation

  • Lee Redding, 2008. "Find a penny and pick it up: capitalizing on mutual fund rounding," Applied Financial Economics Letters, Taylor & Francis Journals, vol. 4(1), pages 1-3.
    • Handle: RePEc:taf:raflxx:v:4:y:2008:i:1:p:1-3
    DOI: 10.1080/17446540701222367
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