A Comparison between the European and the US Mutual Fund Industry

R.R.A.E. Otten, M. Schweitzer

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Abstract

Outlines previous research on the mutual fund industry and compares the characteristics of the us and european mutual fund markets using the structure-conduct-performance paradigm. Shows that the european industry is smaller, with more funds and more emphasis on fixed income, with the uk and us having lower concentration ratios than mainland europe; and the us a wider range of fees. Contrasts the use of different distribution channels and performance statistics; and uses 1991-1997 data to compare actual stock market returns against benchmarks and between countries. Analyses this in detail and notes with surprise the european funds have a better average performance than us funds.
Original languageEnglish
Pages (from-to)14-35
JournalManagerial Finance
Volume28
Issue number1
DOIs
Publication statusPublished - 1 Jan 2002

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