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Pricing of Mutual Fund Services in Retirement Plans: Evidence from Open-End Equity Funds

机译:退休计划中共同基金服务的定价:来自开放式股票基金的证据

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摘要

Management fees of mutual funds are more costly to investors than is often realized. Moreover, research indicates that in many cases, the fees are not related to performance, contrary to what might be expected from an efficient market. This study uses sample data to illustrate the consequences of inefficiency to an individual investor. It then turns to an empirical examination of the determinants of the ratio of management fees to total assets (MER), investigating market concentration, fund performance, and non-performance characteristics as explanatory variables. All of these classes of variables contributed to the variation of MERs .
机译:共同基金的管理费对投资者而言比通常意识到的要昂贵得多。此外,研究表明,在许多情况下,收费与绩效无关,这与有效市场所期望的相反。本研究使用样本数据来说明低效率对个人投资者的影响。然后转向对管理费用与总资产之比(MER)的决定因素进行实证检验,调查市场集中度,基金绩效和非绩效特征作为解释变量。所有这些类别的变量都导致MERs的变化。

著录项

  • 来源
    《Business Economics》 |2006年第4期|p.29-38|共10页
  • 作者

    Jacob De Rooy;

  • 作者单位

    School of Business Administration, Capital College of The Pennsylvania State University at Harrisburg;

  • 收录信息
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 f;
  • 关键词

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