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Swedish Premium Pension Funds: Attributes and Performance

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  • Jern, Benny

    () (Swedish School of Economics and Business Administration)

Abstract

This study investigates the relationship between fund attributes and performance. The focus is on funds available in the Swedish Premium Pension system (PPM-funds). The aim has been to investigate whether administration fees, manager tenure or past performance are of importance for pension savers when they pick their PPM-funds. The results indicate that high fees are a disadvantage to pension savers investing in bond funds but not to those investing in stock funds. Manager tenure has no relationship with performance. There is evidence of performance persistency in most of the investigated fund categories.

Suggested Citation

  • Jern, Benny, 2005. "Swedish Premium Pension Funds: Attributes and Performance," Working Papers 509, Hanken School of Economics.
  • Handle: RePEc:hhb:hanken:0509
    as

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    File URL: http://dhanken.shh.fi/dspace/bitstream/10227/193/2/509-951-555-883-2.pdf
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    References listed on IDEAS

    as
    1. Blake, Christopher R & Elton, Edwin J & Gruber, Martin J, 1993. "The Performance of Bond Mutual Funds," The Journal of Business, University of Chicago Press, vol. 66(3), pages 370-403, July.
    2. Brown, Stephen J & Goetzmann, William N, 1995. " Performance Persistence," Journal of Finance, American Finance Association, vol. 50(2), pages 679-698, June.
    3. Carhart, Mark M, 1997. " On Persistence in Mutual Fund Performance," Journal of Finance, American Finance Association, vol. 52(1), pages 57-82, March.
    4. Bruce Costa & Gary Porter, 2003. "Mutual fund managers: Does longevity imply expertise?," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 27(2), pages 224-235, June.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Mutual funds; Sweden; Premium pension; PPM; Attributes and performance;

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