Why Is Investors' Mutual Fund Market Allocation Far from the Optimum?

Abstract

The opinions in this Working Paper are the sole responsibility of the authors and they do not necessarily coincide with those of the CNMV. The CNMV publishes this Working Paper Series to enhance research and contribute towards greater knowledge of the stock markets and their regulation. The CNMV distributes its reports and publications via the internet at www.cnmv.es © CNMV. The contents of this publication may be reproduced, subject to attribution.