Ranking Mutual Fund Families: Minimum Expenses and Maximum Loads as Markers for Moral Turpitude

Edward Tower and Wei Zheng

No 10-12, Working Papers from Duke University, Department of Economics

Abstract: We evaluate the performance of 51 mutual fund families based on a study of their diversified US managed mutual funds over an 11 year period and explore the determinants of performance gross of published expenses. We find that mutual fund families which charge loads, high expenses to their most favored investors and have high turnover tend to perform badly, even gross of these fees. However, gross of published expenses, managed mutual fund portfolios of those families without loads, with low expenses in their least expensive class, and with low average turnover beat the corresponding indexes.

Keywords: Mutual fund families; Performance; Turnover; Expense ratio; Loads (search for similar items in EconPapers)
JEL-codes: G10 G11 G20 (search for similar items in EconPapers)
Pages: 44
Date: 2010
References: Add references at CitEc
Citations:

Downloads: (external link)
http://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID12 ... ctid=1265103&mirid=1 main text

Related works:
Journal Article: Ranking mutual fund families: minimum expenses and maximum loads as markers for moral turpitude (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:duk:dukeec:10-12

Access Statistics for this paper

More papers in Working Papers from Duke University, Department of Economics Department of Economics Duke University 213 Social Sciences Building Box 90097 Durham, NC 27708-0097.
Bibliographic data for series maintained by Department of Economics Webmaster ().