Noël Amenc, Jean-René Giraud, Philippe Malaise, Lionel Martellini: Newly launched fixed-income Exchange-Traded Funds (ETFs) have specifically been designed to track bond market indices, and share many of the same benefits of equity ETFs, including in particular lower costs, transparency, buying and selling flexibility, all day tracking and trading.
Professor of Finance, EDHEC EDHEC Business School, and Director Risk and Asset Management Research Centre
C.E.O, EDHEC-Risk Advisory
Professor of Finance, EDHEC Business School
Professor of Finance, EDHEC Business School, and Scientific Director Risk and Asset Management Research Centre
While it has often been argued that ETFs were natural investment vehicles for implementing passive indexing strategies, we show in this paper that the benefits of ETFs are actually much larger than traditionally reported, as these instruments can also be used to implement almost the full range of existing investment strategies.
|Research Cluster :||Finance|