RT Journal Article SR Electronic T1 Fund Flows as Country Allocator JF The Journal of Alternative Investments FD Institutional Investor Journals SP 87 OP 95 DO 10.3905/jai.2018.21.3.087 VO 21 IS 3 A1 Srimurthy, Vikram K. A1 Shen, Steven A1 Smalbach, Matthew YR 2018 UL http://jai.pm-research.com/content/21/3/87.abstract AB In this article, the authors find significant positive returns over a forward one-month holding period for strategies that buy in countries that have attracted indirect investment via equity fund flows and sell in countries that have not. They find that the profitability of these strategies is independent of the momentum effect as well as the size effect.