Management fees of the spanish mutual fund industry

2013 ◽  
Author(s):  
Ana Carmen Díaz Mendoza
Keyword(s):  
Mutual Fund ◽  
Management Fees ◽  
Fund Industry ◽  
Mutual Fund Industry

scholarly journals How Rational and Competitive Is the Market for Mutual Funds?*

2019 ◽  
Vol 24 (3) ◽  
pp. 579-613 ◽  
Author(s):  
Markus Leippold ◽  
Roger Rueegg
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Null Hypothesis ◽  
Economies Of Scale ◽  
Management Fees ◽  
Fund Industry ◽  
Mutual Fund Industry ◽  
Traditional Risk Factors ◽  
The Impact ◽  
Higher Sensitivity

Abstract To explore the rationality and competitiveness of the mutual fund industry, we analyze the alpha of active and index mutual funds from a global sample of more than 60,000 equity and fixed income funds and test the null hypothesis that alphas to investors are zero. We distinguish between institutional and retail investors since there are significant differences in management fees, economies of scale, and information asymmetries between these two groups. Using a new robust statistical test, we cannot reject our null hypothesis for the majority of investment categories. We find that the average active fund has less exposure to traditional risk factors, but higher sensitivity to alternative risk premia. Fund persistence and the impact of size and fees add further support to our conclusion that the mutual fund industry is highly competitive, except for US domestic funds. This set of funds is excessively overfunded compared with other fund categories.

What Drives Market Share in the Mutual Fund Industry?

CFA Digest ◽  
2012 ◽  
Vol 42 (2) ◽  
pp. 106-107
Author(s):  
Sadaf Aliuddin
Keyword(s):  
Market Share ◽  
Mutual Fund ◽  
Fund Industry ◽  
Mutual Fund Industry
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