Investment strategies of institutional investors: evidence from Dutch flow-of-funds data

被引：1

作者：

de Haan, Leo ^{[1
]}

Kakes, Jan ^{[1
]}

机构：

[1] De Nederlandsche Bank, Amsterdam, Netherlands

来源：

APPLIED ECONOMICS LETTERS | 2012年 / 19卷 / 02期

关键词：

asset allocation; investment strategy; insurance companies; pension funds; flow-of-funds;

D O I：

10.1080/13504851.2011.570701

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article investigates investment strategies of Dutch pension funds, life insurers and nonlife insurers, using quarterly flow-of-funds data. The results suggest that all three investor types buy past losers and sell past winners, although they only partially rebalance their portfolios that way.

引用

页码：155 / 159

页数：5

共 9 条

[1] Momentum trading by institutions [J].