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Mutual fund performance: banking versus independent managers
Taylor & Francis (2011-09-09)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 ... -
On causality in the size-efficiency relationship: the effect of investor cash flows on the mutual fund industry
(2010-12-14)One of the perceived advantages in mutual fund management is the presence of economies of scale resulting from fund size. This article analyses the impact of mutual fund cash flows on the relation between size and performance, ...