Common Fund Flows: Flow Hedging and Factor Pricing
收藏NBER2022-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w30234
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Active equity funds care about fund size, affected by fund flows that obey a strong factor structure with the common component responding to macroeconomic shocks. Funds hedge against common flows by tilting their portfolios toward low-flow-beta stocks, while household/retail and index investors
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美国国家经济研究局创建时间：
2022-07-01
