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    Passive investing before and after the crisis: investors' views on exchange-traded funds and competing index products

    Goltz, F. and Schröder, David (2011) Passive investing before and after the crisis: investors' views on exchange-traded funds and competing index products. Bankers, Markets & Investors (110), ISSN 1167-4946.

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    Abstract

    Investment in exchange-traded funds (ETFs) has been remarkably robust in the course of the recent financial crisis. This paper analyzes investors' perceptions of ETFs and other indexing products by comparing the answers to two surveys of ETF users carried out in 2008 and 2009, before and after the height of the financial crisis. We find that the crisis has divided the ETF market in two segments. Whereas ETFs in standard asset classes have been unaffected by the crisis, ETFs for alternative asset classes face challenges. However, ETFs are generally well ranked in comparison to other indexing products – presumably because of an increased focus on liquidity and transparency.

    Metadata

    Item Type: Article
    Keyword(s) / Subject(s): exchange-traded funds, futures, index funds, total return swaps, survey, financial crises, liquidity, counterparty risk, index replication
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: David Schroeder
    Date Deposited: 28 May 2013 08:53
    Last Modified: 11 Oct 2016 11:59
    URI: http://eprints.bbk.ac.uk/id/eprint/6818

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