Authors: Juan Carlos Matallín-Sáez, Amparo Soler-Domínguez and Emili Tortosa-Ausina

Title: Mutual fund performance: banking versus independent managers

Source: Applied Economics Letters

Abstract: We examine the performance of mutual fund managers for a sample of Spanish mutual funds considering data on active management, loads, size and the number of funds managed per manager. We find evidence of differences in fund performance according to management: independent managers outperform their banking counterparts even when the lower associated fees are considered. Overall, our results suggest that superior active managers do exist and the slight discrepancies which arise between managers can be interpreted as agency problems.


Recommended citation:
Matallín, J.C., A. Soler and E. Tortosa, 2011. "Mutual fund performance: banking versus independent managers", Applied Economics Letters, 19 (8), pp. 755-758.


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