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Individual Investor Activity And Performance.pdf

Dahlquist.pdf

Preview of Individual Investor Activity and Performance

🔗 Source: nber.org

📊 Size: 341 KB

📄 Pages: 40 pages

⬇️ Downloads: 178

Summary

Researchers examined activity and performance of 70,000 individual investors in Sweden's Premium Pension System from 2000 to 2010, finding that active investors outperform passive investors, with returns of 2.5%-8.6% per year, primarily due to dynamic fund selection. Active investors tend to make better initial fund choices and exploit mutual fund momentum, while passive investors remain invested in poorly-performing funds. However, high levels of coordinated investor activity, often driven by financial advisors, can impose negative externalities on passive investors, resulting in significant transaction costs and wealth transfers, potentially as high as 0.5% of a fund's assets under management.

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Description

Researchers examined activity and performance of 70,000 individual investors in Sweden's Premium Pension System from 2000 to 2010, finding that active...

Technical Information

File Format: PDF
File Size: 341 KB
Pages: 40
Language: EN
Total Downloads: 178
Last Updated: 7 days ago

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This PDF document about Individual Investor Activity and Performance provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into Individual Investor Activity and Performance.