After more than two decades of tracking mutual fund flows and allocation data, we’ve come to believe that each year, or indeed each time period, has its own special “data signature”. It could be said that 2020 has one of the most unique signatures we’ve seen in a long time. Our 2020 wrap takes a look at this past year, we discuss the reactions we saw in the fund flows and allocations data to the pandemic, China, the US election, the continued demand for greener investing and more. As we position our sights on the year ahead, we discuss the outlook for ESG, Emerging Markets and Japan.
EPFR Papers: Estimating asymmetric price impact
This paper studies the asymmetric price impacts mutual fund and ETF flows have on individual stocks in demand-based asset pricing.