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Data on fund flows has shown that the general public has not been the driver of the market's continued rally, Rosenberg wrote in a note Monday.
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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.
His dissertation research focuses on the implications of misconduct in social sector organizations on funding flows in the sector.
To date, his company has not filed any information on funds flowing through U2 Ltd., the Dutch entity that holds U2's song catalog.
Fully fledged capacity building approaches and concrete plans for gradual transfer of management responsibilities have thus far been stymied by tight donor restrictions on funding flowing to government.
The constraints on funds flow and the level of engagement by external actors in this area during the last few years are imposing limitations on the delivery of basic services to the population in this region.
The interviews covered when and how funds are channelled to districts from the national level, processes of accessing released funds; the differences between donor and government funds in terms of size, flows and conditions of use; the effects of funding flows on implementation of programmes and how managers cope with delays in fund releases.
Singapore's attorney general said it had received a request for help from its Swiss counterparts "for information and documents on certain fund flows flowing from (1MDB) and entities related to it".
In the pre-MDG world, development discussions focused mostly on the amount of funds flowing through developed countries' aid programs.
This is especially true as data on mutual fund and exchange traded fund flows show that there is often a big difference between what people say and what they do.
This year, though, stock fund flows continue to accelerate.
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