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

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type 01 Jan 2007 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Pablo Fernandez; Jose Maria Carabias; Lucia de Miguel;

doi: 10.2139/ssrn.985120

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

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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.

Related Organizations

IESE Business School
Spain
London School of Economics and Political Science
United Kingdom
University of Navarra
Spain

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