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The bank sampled 3,388 domestic equity mutual funds from November 1996 to October 1999 to study the so-called Morningstar effect on fund flow.
The 2002 pace is well above the average annual fund flow of just $84 million since 1992, according to AMG Data Services.
Irrationally or not, some investors who were on the sidelines have become emboldened enough by the rally to start buying stocks, fund flow data shows.
As of Dec. 2 they had taken $9.8 billion out of Latin America, according to fund flow data compiled by Morgan Stanley research.
The information flow, material flow and fund flow in the gold mine enterprise have been optimally integrated, and the processes of production and management have been optimally controlled and supervised.
In the third quarter alone, investors poured nearly $32 billion into mutual funds buying Treasury securities, more than twice the amount of any quarter since AMG Data Services began collecting mutual fund flow data in 1992.
Similar(32)
We find that (i) investor sophistication, (ii) market discipline via fund flow-performance relation, and (iii) the threat of dismissal in outsourced funds work as substitutes for explicit performance-based incentives, but do not find evidence on the substitution effect for fund ownership by portfolio managers.
This year, though, stock fund flows continue to accelerate.
Strong fund flows, however, often herald significant bear markets.
In particular, he studies fund flows and examines how fund flows affect asset prices domestically and internationally.
Singapore, a regional financial hub, launched a probe into fund flows linked to 1MDB in 2015.
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