Equity Mutual Funds in Spain (Fondos de Inversión de Renta Variable Nacional 1991-2006)

19 Pages Posted: 10 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 3, 5, 10 and 15 years, the average return of the equity mutual funds in Spain was 600 basis points smaller than the average return of the Spanish Index ITBM. Nevertheless, on December 31, 2006, 348,000 investors in the 120 existing equity mutual funds had 10.7 billion euros. Only one of the 43 equity mutual funds with 10-year history outperformed the benchmark.

Note: Downloadable document is in Spanish.

Keywords: Spain, equity mutual funds, fondos de inversión, CNMV, INVERCO, benchmark, apreciación de los fondos, TER

JEL Classification: G12, G31, M21

Suggested Citation

Fernandez, Pablo and Carabias, Jose M. and de Miguel, Lucia, Equity Mutual Funds in Spain (Fondos de Inversión de Renta Variable Nacional 1991-2006) (May 24, 2007). Available at SSRN: https://ssrn.com/abstract=985120 or http://dx.doi.org/10.2139/ssrn.985120

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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