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

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  • Jacob De Rooy

Abstract

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.Business Economics (2006) 41, 29–38; doi:10.2145/20060404

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  • Jacob De Rooy, 2006. "Pricing of Mutual Fund Services in Retirement Plans: Evidence from Open-End Equity Funds," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 41(4), pages 29-38, October.
    • Handle: RePEc:pal:buseco:v:41:y:2006:i:4:p:29-38
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