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http://ssrn.com/abstract=984507
 
 

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John Freeman's Working Paper Responding to the Advisory Fee Analysis in AEI Working Paper #127, June 2006, 'Competition and Shareholder Fees in the Mutual Fund Industry: Evidence and Implications for Policy' by John C. Coates, IV, and R. Glenn Hubbard


John P. Freeman


University of South Carolina



Abstract:     
Professors John C. Coates, IV, and R. Glenn Hubbard have prepared a study entitled, Competition and Shareholder Fees in the Mutual Fund Industry: Evidence and Implications for Policy. I will refer to it henceforth as "Coates-Hubbard." The working paper was published in June of 2006 under the auspices of the American Enterprise Institute. Coates-Hubbard joins with the Investment Company Institute in claiming that fees for mutual fund advisory services are not excessive and that findings to the contrary are based on faulty scholarship. In truth, as is explained below, it is the Coates-Hubbard scholarship that is defective, featuring conclusions that are unsupported and unsupportable.

Number of Pages in PDF File: 14

Keywords: Mutual fund, Advisory fees, Advisory services, Investment company, Price competition, Investment Company Institute, American Enterprise Institute

JEL Classification: G2, G23, G24, G28, G3, G34, G38, K2, K22

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Date posted: May 9, 2007  

Suggested Citation

Freeman, John P., John Freeman's Working Paper Responding to the Advisory Fee Analysis in AEI Working Paper #127, June 2006, 'Competition and Shareholder Fees in the Mutual Fund Industry: Evidence and Implications for Policy' by John C. Coates, IV, and R. Glenn Hubbard. Available at SSRN: http://ssrn.com/abstract=984507 or http://dx.doi.org/10.2139/ssrn.984507

Contact Information

John P. Freeman (Contact Author)
University of South Carolina ( email )
349 Gambrell Hall
Columbia, SC 29208
United States
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