Title: What Drives Mutual Fund Performance? A Look into the Characteristics of Finnish Mutual Funds
Abstract: We investigate the effects of 17 different mutual fund characteristics on mutual fund performance, including both publicly available information and non-public information collected through a questionnaire among fund managers in Finland. We find that an increased number of investors have an adverse effect on mutual fund performance, and that index funds underperform their actively managed peers. Furthermore, we find that mutual funds that are trading against in-house brokerages underperform their peers, probably due to soft-commission arrangements. This finding potentially has regulatory implications for the mutual fund industry.
Publication Year: 2007
Publication Date: 2007-01-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 1
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