Advanced Search
MyIDEAS: Login to save this paper or follow this series

The performance of Dutch investment institutions over the period 1992 through 1996: a detailed research on international equity investment institutions


Author Info

  • Eijgenhuijsen, Hans

    (Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics)

  • Boerendonk, Kjeld
Registered author(s):


    This paper deals with Dutch so called fiscal investment institutions subjected to the Act on the Supervision of Investment Institutions (ASII), which solely invest in equities. It analyses the individual and aggregated performances of these funds over the period 1992- 1996. Quarterly data for individual funds find no significant risk adjusted net return, gross of any load fees. Furthermore it is found that the risk adjusted net return exceeded the load charge for a holding period of three years or longer. The question if portfolio managers achieve positive risk adjusted gross return remains unanswered, since investment institutions have a relative freedom in allocating expenses. Subsequent the turnover of the investment institution's total assets is estimated. The results found are mixed. On average investment institutions turn over three fourths of their for cash in- or outflow adjusted assets. A rankcorrelation test did not show any relationship between turnover and risk adjusted net return.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL:
    Our checks indicate that this address may not be valid because: 500 Failed to connect to FTP server Net::FTP: Bad hostname ''. If this is indeed the case, please notify (R. Dam)
    Download Restriction: no

    Bibliographic Info

    Paper provided by VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics in its series Serie Research Memoranda with number 0049.

    as in new window
    Date of creation: 1997
    Date of revision:
    Handle: RePEc:dgr:vuarem:1997-49

    Contact details of provider:
    Web page:

    Related research


    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:


    No references listed on IDEAS
    You can help add them by filling out this form.



    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


    Access and download statistics


    When requesting a correction, please mention this item's handle: RePEc:dgr:vuarem:1997-49. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (R. Dam).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.