Discussion paper

DP6721 Home Bias at the Fund Level

This paper presents new stylized facts on the distribution of the home bias at the fund level. We find (i) a large heterogeneity in the degree of home bias across mutual funds; (ii) a positive correlation between the size of funds and home bias; and (iii) a positive correlation between the size of funds, the number of foreign countries and the number of sectors in which they invest. These facts constitute a challenge for existing theories.

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Citation

Rey, H and H Hau (eds) (2008), “DP6721 Home Bias at the Fund Level”, CEPR Press Discussion Paper No. 6721. https://cepr.org/publications/dp6721