A Comparison between the European and the U.S. Mutual Fund Industry

33 Pages Posted: 30 May 1999

See all articles by Rogér Otten

Rogér Otten

Maastricht University - Limburg Institute of Financial Economics (LIFE)

Mark Schweitzer

Kempen & Co

Date Written: December 2001

Abstract

In this study we analyze the development and performance of the European mutual fund industry and compare it with the industry in the United States, using the traditional structure-conduct-performance (SCP) paradigm. We find that Europe is still lagging the American mutual fund industry when it comes to total asset size, average fund size, and market importance. Furthermore, it appears that a few large domestic fund groups dominate the mutual fund markets in the individual European countries. The performance of domestic equity funds is tested using a data set containing the main European countries and the United States. The most striking results of these performance tests are the relative poor performance of U.S. funds, compared to the European funds, and the out-performance of small cap mutual funds.

Keywords: Mutual Funds, Europe

JEL Classification: G20, G23

Suggested Citation

Otten, Rogér and Schweitzer, Mark, A Comparison between the European and the U.S. Mutual Fund Industry (December 2001). Available at SSRN: https://ssrn.com/abstract=164108 or http://dx.doi.org/10.2139/ssrn.164108

Rogér Otten (Contact Author)

Maastricht University - Limburg Institute of Financial Economics (LIFE) ( email )

P.O. Box 616
Maastricht, 6200 MD
Netherlands
+31 43 388 3838 (Phone)
+31 43 388 4875 (Fax)

HOME PAGE: http://www.fdewb.unimaas.nl/finance/faculty/Otten

Mark Schweitzer

Kempen & Co

Herengracht 182
P.O. Box 11363
1001 GJ Amsterdam
Netherlands

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