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| Author: | Houge, T. Wellman, J. |
| Title: | The use and abuse of mutual fund expenses |
| Journal: | Journal of Business Ethics
2007 : JAN I, VOL. 70:1, p. 23-32 |
| Index terms: | asset management funds |
| Freeterms: | mutual fund expenses |
| Language: | eng |
| Abstract: | This paper presents the historical trend and recent abuse of annual mutual fund expenses. The authors claim that load mutual fund companies charge higher expenses to their target customer: the less-knowledgeable investor. No-load fund companies, which tend to attract the more sophisticated investor, offer lower expenses. Over 2000-2004 the average annual expense ratio of load equity funds was 50 basis points higher than no-load equity funds. Furthermore, load fund investors are more susceptible to paying higher expenses and receiving lower returns over time. |
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