01752cas a2200253 a 4500 AALejournalIMF001418 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451860054 1018-5941 BD-DhAAL BD-DhAAL Gelos, R. A Panic-Prone Pack? : The Behavior of Emerging Market Mutual Funds / R. Gelos, Eduardo Borensztein. Washington, D.C. : International Monetary Fund, 2000. 1 online resource (36 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper explores the behavior of emerging market mutual funds using a novel database covering the holdings of individual funds over the period January 1996 to March 1999. An examination of individual crises shows that, on average, funds withdrew money one month prior to the events. The degree of herding among funds is statistically significant, but moderate. Herding is more widespread among open-ended funds than among closed-end funds, but not more prevalent during crises than during tranquil times. Funds tend to follow momentum strategies, selling past losers and buying past winners, but their overall behavior is more complex than often suggested. Mode of access: Internet Borensztein, Eduardo. IMF Working Papers; Working Paper ; No. 2000/198 Full text available on IMF http://elibrary.imf.org/view/journals/001/2000/198/001.2000.issue-198-en.xml IMF e-Library