3. The Economics of Mutual Funds

  1. John A. Haslem Ph.D
  1. David M. Smith Ph.D., CFA

Published Online: 29 NOV 2011

DOI: 10.1002/9781118266397.ch3

Mutual Funds: Portfolio Structures, Analysis, Management, and Stewardship

Mutual Funds: Portfolio Structures, Analysis, Management, and Stewardship

How to Cite

Haslem, J. A. (2009) The Economics of Mutual Funds, in Mutual Funds: Portfolio Structures, Analysis, Management, and Stewardship, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118266397.ch3

Author Information

  1. Associate Professor of Finance and Director of the Center for Institutional Investment Management, the University at Albany (SUNY)

Publication History

  1. Published Online: 29 NOV 2011
  2. Published Print: 19 OCT 2009

ISBN Information

Print ISBN: 9780470499092

Online ISBN: 9781118266397

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Keywords:

  • mutual funds;
  • investment company act;
  • investment company institute;
  • federal deposit insurance corporation;
  • principal benefits

Summary

This chapter contains sections titled:

  • Size and Structure of the Mutual Fund Industry

  • Mutual Fund Creation and Mortality

  • Regulation

  • Scale Economies: Expenses and Fees

  • Scale Diseconomies: Fund Returns

  • Benefits of Mutual Fund Investing to Fund Shareholders

  • Drawbacks of Mutual Fund Investing

  • Financial Barriers to Mutual Fund Investing and Redemption

  • Mutual Fund Governance and Agency Problems

  • Fund Manager Tournament Behavior

  • Fund Family Marketing and Cross-Subsidization

  • Conclusions

  • About the Author