Mutual Funds in Spain (Rentabilidad de los Fondos de Inversion en 1991-2006)

21 Pages Posted: 2 May 2007

See all articles by Pablo Fernandez

Pablo Fernandez

University of Navarra - IESE Business School

Jose M. Carabias

London School of Economics & Political Science (LSE) - Department of Economics

Lucia de Miguel

University of Navarra - IESE Business School

Date Written: 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 Classification: G12, G31, M21

Suggested Citation

Fernandez, Pablo and Carabias, Jose M. and de Miguel, Lucia, Mutual Funds in Spain (Rentabilidad de los Fondos de Inversion en 1991-2006) (May 24, 2007). Available at SSRN: https://ssrn.com/abstract=982821 or http://dx.doi.org/10.2139/ssrn.982821

Pablo Fernandez (Contact Author)

University of Navarra - IESE Business School ( email )

Camino del Cerro del Aguila 3
28023 Madrid
Spain
+34 91 357 0809 (Phone)
+34 91 357 2913 (Fax)

HOME PAGE: http://web.iese.edu/PabloFernandez/

Jose M. Carabias

London School of Economics & Political Science (LSE) - Department of Economics ( email )

Houghton Street
London WC2A 2AE
United Kingdom

Lucia De Miguel

University of Navarra - IESE Business School ( email )

Avenida Pearson 21
Barcelona, 08034
Spain

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