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Rentabilidad de los fondos de inversión en España. (1991-2006)

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Author Info

  • Fernandez, Pablo

    ()
    (IESE Business School)

  • Carabias, Jose M.

    (IESE Business School)

  • Miguel, Lucia

    (IESE Business School)

Abstract

En los últimos cinco y diez años, la rentabilidad promedio de los fondos de inversión fue inferior a la inflación. A pesar de estos resultados, el 31 de diciembre de 2006, 8.819.809 partícipes tenían un patrimonio de 254.306 millones de euros en los 2.779 fondos de inversión existentes. En 2006 se lanzaron al mercado 246 nuevos fondos. Sólo 23 de los 649 fondos con diez años de historia han obtenido una rentabilidad superior al benchmark utilizado. Por ejemplo, de los 43 fondos de "renta variable nacional" con diez años de historia, sólo uno consiguió una rentabilidad superior a la del Indice Total de la Bolsa de Madrid. Si la rentabilidad de cada fondo de inversión en los últimos cinco años no hubiera sido la realmente obtenida, sino el benchmark de su categoría, la apreciación de los fondos en el período 2002-2006 habría sido 67.768 millones de euros en lugar de los 28.013 millones que obtuvieron. El total de comisiones y gastos repercutidos en este período ascendió a 12.805 millones de euros.

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Bibliographic Info

Paper provided by IESE Business School in its series IESE Research Papers with number D/696.

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Length: 24 pages
Date of creation: 17 May 2007
Date of revision:
Handle: RePEc:ebg:iesewp:d-0696

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Postal: IESE Business School, Av Pearson 21, 08034 Barcelona, SPAIN
Web page: http://www.iese.edu/
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Related research

Keywords: fondos de inversión; rentabilidad partícipes; benchmark; apreciación fondos;

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