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The Fees Of Mutual Funds And Real Estate Funds Their Determinants In A Small Market

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  • Paulo ALVES

Abstract

This paper analyses the determinants of expenses from 2007 to 2012 in the Portuguese funds industry The main contribution is to consider mutual funds and real estate funds simultaneously particularly the latter generally created according to customer s needs usually for tax reasons The results confirm the specificity of mutual funds and real estate funds In the first expenses are higher on funds composed by shares derivatives and a large number of assets In the second expenses are lower on closed end funds In this case it seems that customers are willing to pay a small fee for tax reasons once their management does not require a special skill We did not find an evident relationship between expenses and the fund net asset value for both categories of collective schemes The same occurs between expenses and fund s performance

Suggested Citation

  • Paulo ALVES, 2015. "The Fees Of Mutual Funds And Real Estate Funds Their Determinants In A Small Market," Journal of Advanced Studies in Finance, ASERS Publishing, vol. 6(1), pages 20-28.
    • Handle: RePEc:srs:jasf00:v:6:y:2015:i:1:p:20-28
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    1. D. K. Malhotra & Robert W. McLeod, 1997. "An Empirical Analysis Of Mutual Fund Expenses," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 20(2), pages 175-190, June.
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    Cited by:

    1. Alves, Paulo, 2016. "The Expenses of Real Estate Funds in a Small Market: Their Determinants," MPRA Paper 83275, University Library of Munich, Germany.

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    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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