The first global emerging markets investor: Foreign & Colonial Investment Trust 1880-1913

被引：15
|
作者：
Chambers, David [1 ]
Esteves, Rui [2 ]
机构：
[1] Univ Cambridge, Judge Business Sch, Cambridge CB2 1AG, England
[2] Univ Oxford, Dept Econ, Oxford OX1 3UQ, England
来源：
EXPLORATIONS IN ECONOMIC HISTORY | 2014年 / 52卷
关键词：
Financial globalisation; Institutional investors; Emerging markets; Contagion; Pre-1913; PERFORMANCE; CRISIS;
D O I：
10.1016/j.eeh.2013.08.004
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The Foreign and Colonial Investment Trust is the oldest surviving closed end fund, having been established in 1868. Its early success and emulation were related to its identification of a missing market the provision of a wholesale diversified vehicle for the investing public. This paper is a micro-study of this leading investment trust during the First Era of financial globalisation. The history of this flagship fund over more than three decades provides an insight into the relative success of this financial innovation as well as into the risk and returns of investing in emerging markets over a century ago. (C) 2013 Elsevier Inc. All rights reserved.
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页码：1 / 21
页数：21
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