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Mutual Funds in Spain (Rentabilidad de los Fondos de Inversion en 1991-2006)
Pablo Fernandez University of Navarra - IESE Business School Jose Maria Carabias London Business School; University of Navarra - IESE Business School Lucia De Miguel University of Navarra - IESE Business School May 24, 2007 Abstract: During the last 10 years (1997-2006), the average return of the mutual funds in Spain (2.7%) was smaller than the average inflation (2.9%). Nevertheless, on December 31, 2006, 8,819,809 investors in the 2,779 existing mutual funds had 254 billion euros. 246 new mutual funds were launched during 2006. Only 23 of the 649 mutual funds with 10-year history outperformed the benchmark.
Note: Downloadable document is in Spanish. Keywords: mutual funds, Spain, benchmark, mutual fund performance JEL Classifications: G12, G31, M21 Working Paper SeriesDate posted: May 02, 2007 ; Last revised: May 28, 2007Suggested CitationContact Information
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