The practice of periodically reconstituting equity indices suggests that changes to the
composition of an index can impact the performance of firms whose stocks are added to or …

So-called passive index funds—investment funds that are designed to track a pre-specified
underlying index—have become a dominant force in the investing landscape, collectively …

Index funds, sometimes called" passive" funds,'have become central players in the
investment landscape. These open-end mutual funds and exchange traded funds (ETFs) …

The extent to which an index fund successfully tracks its benchmark index is gauged by two
metrics: excess return and tracking error. Using a cross-sectional sample of 198 US …

Securities lending has been a lucrative business for mutual funds and exchange-traded
funds (ETFs) over the past decade. Unfortunately for investors, the sponsors of these funds …

Securities lending has been a lucrative business for mutual funds and ETFs over the past
decade. The authors examine the impact of securities lending activities on the return …

Motivated by the increasing importance of passive investment, we first compare index funds
with actively managed funds and study the trading performance of index funds. Then we …

Summer 2015 will mark five years from the end of privatesector origination of student loans
under the Federal Family Student Loan Program (FFELP). Since that time, all subsidized …

Index providers are important participants of the contemporary global financial market. This
group comprises of diverse entities–eg stock exchanges, financial institutions (particularly …

This is the final study of the 'Feasibility study for the creation of a CMU Equity Market Index
Family'conducted by CEPS for the Directorate-General for Financial Stability, Financial …