Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Spanish Mutual Funds Yield PDF full book. Access full book title Spanish Mutual Funds Yield by María Isabel Cambón. Download full books in PDF and EPUB format.
Author: María Isabel Cambón Publisher: ISBN: Category : Languages : en Pages : 46
Book Description
This working document analyses the Spanish mutual fund performance in the pe-riod 2000-2009 based on a set of variables which characterise such institutions. The model proposed, which includes non-observable variables which we relate to the skill of the fund manager, is based on the generalised method of moments (GMM) technique applied to panel data. The results of the estimation do not allow us to conclude that there is systematic persistence in the yields of investment funds. Nei-ther do we find that the funds charging higher management and custody fees per-form better. Some variables characterising the fund management company do seem to have a bearing on the yield of the fund. For example, we find that the larger the market share of the fund management company, the lower tends to be the yield, and that the funds of management companies belonging to banks and savings banks also tend to show higher yields. Conversely, variables specific to a fund, such as size or age, do not seem to have a bearing on its performance.
Author: María Isabel Cambón Publisher: ISBN: Category : Languages : en Pages : 46
Book Description
This working document analyses the Spanish mutual fund performance in the pe-riod 2000-2009 based on a set of variables which characterise such institutions. The model proposed, which includes non-observable variables which we relate to the skill of the fund manager, is based on the generalised method of moments (GMM) technique applied to panel data. The results of the estimation do not allow us to conclude that there is systematic persistence in the yields of investment funds. Nei-ther do we find that the funds charging higher management and custody fees per-form better. Some variables characterising the fund management company do seem to have a bearing on the yield of the fund. For example, we find that the larger the market share of the fund management company, the lower tends to be the yield, and that the funds of management companies belonging to banks and savings banks also tend to show higher yields. Conversely, variables specific to a fund, such as size or age, do not seem to have a bearing on its performance.
Author: Ana Carmen Díaz Mendoza Publisher: Ed. Universidad de Cantabria ISBN: 8486116716 Category : Business & Economics Languages : en Pages : 70
Book Description
Esta obra analiza las comisiones de gestión pagadas por los partícipes de la industria de fondos de inversión españoles. Dado que estas comisiones influyen directamente en la rentabilidad final obtenida por los partícipes y son, por otro lado, la principal fuente de ingresos de las Sociedades Gestoras de los fondos de inversión, su determinación adquiere una gran relevancia para los inversores, gestores y compañías gestoras y también para los reguladores de estos activos financieros. El libro está estructurado en tres capítulos que tienen un objetivo común: comparar el grupo de fondos de inversión que cobran comisiones de gestión total o parcialmente en función de los resultados obtenidos por el fondo (en este caso hablamos de la comisión de gestión sobre rendimiento) con los que establecen las comisiones de gestión exclusivamente en función del activo gestionado por el fondo (comisión de gestión sobre rendimiento). Los capítulos utilizan diferentes frecuecias de datos, muestras, modelos y metodologías de estimación.
Author: G. Gregoriou Publisher: Springer ISBN: 0230626491 Category : Business & Economics Languages : en Pages : 279
Book Description
This book responds to a growing demand for mutual funds. This timely collection of original papers focuses on changes of international investment in Europe, the US and New Zealand. Using a fresh approach, innovative techniques and various models this book assesses performance and provides an understanding of mutual funds on an international level.
Author: Jorge Sainz Publisher: ISBN: Category : Languages : en Pages :
Book Description
This paper deals with the relevance of benchmark choice for mutual fund performance behaviour, completing previous research on the Spanish Mutual Fund Market. Using Jensen's and Treynor-Mazuy's measures, the study highlights the relevance of style analysis for benchmark election in order to evaluate fund managers.
Author: Carlos Sánchez González Publisher: Emerald Group Publishing ISBN: 1787438007 Category : Business & Economics Languages : en Pages : 263
Book Description
Sánchez González develops an innovative model that considers different management stages of mutual fund companies, overcoming the traditional dispute between the different approaches used in banking and insurance research.
Author: Luis Muga Publisher: ISBN: Category : Languages : en Pages :
Book Description
This paper has shown that market penetration strategies are common practice during the product introduction stage in the Money Mutual Funds in Spain. During this stage there is no relation between fees and performance because this strategy is optimal. In order to analyse this relationship during the other stages of the product life cycle, funds under three years old were omitted from the analysis. Among the remaining funds, those with the highest fees are found to present a higher gross return than the low-fee funds, although the difference is not statistically significant. Nevertheless, in terms of net returns, low-fee funds are observed to stochastically dominate high-fee funds for any risk-averse investor. These findings hold for any managerial skill level or segmentation by mutual fund family type.
Author: Rakesh Kumar Publisher: Partridge Publishing ISBN: 148287508X Category : Business & Economics Languages : en Pages : 178
Book Description
The services of the asset management companies are getting important for the investors, for assessing markets and investing funds are beyond the capacity of most individuals. Hence, the role of mutual fund firms in India has increased enormously in response to liberal policy regime in the recent decades. This book is an endeavour to study the various facets of the mutual fund industry to understand the complexities therein. The structure, organisation, and competition in the mutual fund industry in India have been discussed in depth. Performance of mutual fund schemes by using conditional and unconditional models has been evaluated, and investors may derive enough inkling towards their future investment plans. After going through this book, the reader is expected to develop confidence while dealing with the instruments of mutual funds.
Author: María Isabel Cambón
Author: María Isabel Cambón
Author: Ana Carmen Díaz Mendoza
Author: G. Gregoriou
Author: Gonzalo Rubio
Author: Juan A. Palacios
Author: Jorge Sainz
Author: Carlos Sánchez González
Author: Luis Muga
Author: Rakesh Kumar
Author: Izaro Intsausti Zinkunegi