Année
2009
Abstract
This paper analyses the mutual fund industry for 20 countries using a new
database of more than 50,000 mutual funds. The results suggest that more
developed industries provide more benefits to investors as they diversify more
internationally, charge lower annual charges and present more product sophistication.
The results also have important policy implications by emphasising the
role of competition and contestability in industry development. Fewer barriers
to entry are positively associated with a larger industry, and concomitantly with
more efficiency in terms of returns and fees.
RAMOS, S. (2009). The size and structure of the world mutual fund industry. European Financial Management, 15(1), pp. 145-180.