paper on emerging market bond funds

Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date paper on emerging market bond funds beliavsky 02-04-2008
Posted by on February 4, 2008, 2:57 pm A recent paper recommends that investors allocate some of their money to emerging market bond funds. Some people say that risk should be taken only with the equity portion of one's portfolio, but I don't agree. Why should junk bond funds, for example, be excluded entirely from tax-deferred portfolios? pdf at http://www.thefinancialreview.org/PDF/Polwitoon-Tawatnuntachai-Emerging-Market-Bond-Funds.pdf http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1034961 Emerging Market Bond Funds: A Comprehensive Analysis SIRAPAT POLWITOON Sigmund Weis School of Business, Susquehanna University ORANEE TAWATNUNTACHAI Pennsylvania State University - School of Business Administration The Financial Review, Vol. 43, No. 1, February 2008 Abstract: We analyze U.S.-based emerging market bond funds over a ten-year (1996-2005) complete cycle of ups and downs in the dominant emerging bond markets. Emerging market bond funds outperform comparable domestic and global bond funds. The results are robust across both conditional and unconditional models. The funds also provide international diversification benefits to U.S. and international bond and equity portfolios. The funds exhibit persistence in performance and seasonality. Active funds, large funds and funds with high minimum purchases perform better on a total return basis but not on a risk- adjusted basis. Keywords: Emerging markets, bond mutual funds, international diversification, international mutual funds, performance persistence JEL Classifications: G11, G12, G15 Similar Threads Posted muni bond fund vs. "core" bond funds March 26, 2007, 10:46 am Good Bond Funds? January 28, 2007, 3:12 pm Moving IRA from stock to bond funds? April 20, 2007, 3:34 pm Bond Funds - Good Idea or Not November 13, 2008, 10:56 am Is now a good time to invest in Bond Funds? July 4, 2007, 8:36 am Tax Exempt Money Market vs. Bond Fund May 31, 2007, 1:32 pm Web Sites That Graph Bond Market Prices Over Time? October 1, 2008, 4:16 am Money Market Funds October 7, 2006, 8:29 pm how soon after market close do funds update May 25, 2007, 5:02 pm does vanguard have money market funds June 10, 2007, 8:02 am