TY  - JOUR
AU  - Hau,Harald
AU  - Rey,Helene
TI  - Home Bias at the Fund Level
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 14172
PY  - 2008
Y2  - July 2008
UR  - http://www.nber.org/papers/w14172
L1  - http://www.nber.org/papers/w14172.pdf
N1  - Author contact info:
Harald Hau
University of Geneva and GFRI
Unipignon
40, Boulevard du Pont d'Arve
CH 1211 Geneva 4
Switzerland
E-Mail: prof@haraldhau.com

Helene Rey
London Business School
Regents Park
London NW1 4SA
UNITED KINGDOM
Tel: 44 2070008412
E-Mail: hrey@london.edu
AB  - This paper presents new stylized facts on the distribution of the home bias at the fund level. We find (i) a large heterogeneity in the degree of home bias across mutual funds; (ii) a positive correlation between the size of funds and home bias; and (iii) a positive correlation between the size of funds, the number of foreign countries and the number of sectors in which they invest. These facts constitute a challenge for existing theories.
ER  -