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| Author: | Crespo, R.M. |
| Title: | Spanish mutual fund fees and less sophisticated investors: examinations and ethical implications |
| Journal: | Business Ethics
2009 : JUL, VOL 18:3 p. 224-240 |
| Index terms: | spain household economics ethics assets bank marketing banks |
| Freeterms: | load funds custodial fees |
| Language: | eng |
| Abstract: | The aim of this paper is to examine the implications of the different loads and fees applied to mutual fund investors in the Spanish market. According to the results there is a relationship between the various charges and fees. The fact that load fund companies charge higher management and custody fees proves the potential of the fund companies to impose higher fees on a segment of the clientele. The only beneficiary seems to be the financial institution itself. On this view, the survival of lack funds seems to depend on the lack of financial sophistication of their clientele, combined with market inefficiencies. The paper argues whether this is right or not. |
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