Ranking mutual fund families: minimum expenses and maximum loads as markers for moral turpitude
AbstractWe evaluate the performance of 51 mutual fund families based on a study of their diversified US managed mutual funds over an 11 year period and explore the determinants of performance gross of published expenses. We find that mutual fund families which charge loads, high expenses to their most favored investors and have high turnover tend to perform badly, even gross of these fees. However, gross of published expenses, managed mutual fund portfolios of those families without loads, with low expenses in their least expensive class, and with low average turnover beat the corresponding indexes.
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Bibliographic InfoArticle provided by Springer in its journal International Review of Economics.
Volume (Year): 55 (2008)
Issue (Month): 4 (December)
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Web page: http://www.springer.com/economics/journal/12232
Other versions of this item:
- Edward Tower & Wei Zheng, 2010. "Ranking Mutual Fund Families: Minimum Expenses and Maximum Loads as Markers for Moral Turpitude," Working Papers 10-12, Duke University, Department of Economics.
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
- G20 - Financial Economics - - Financial Institutions and Services - - - General
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