| Author: | Christoffersen, S. E. K. |
| Title: | Why do money fund managers voluntarily waive their fees? |
| Journal: | Journal of Finance
2001 : JUN, VOL. 56:3, p. 1117-1140 |
| Index terms: | Financial markets Money markets Funds Managers |
| Language: | eng |
| Abstract: | This paper investigates the optimal management fee under the assumption that it is not fixed but variable throughout the year. The authors argue that fee waivers are an indirect method of setting flexible performance-based fees in an industry that has historically adopted a fee structure that is nominally flat. |
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