Tres ensayos sobre selección de fondos de inversión y de fondos de fondosviabilidad de ratios e influencia de comisiones

Abstract

Mutual funds are a very attractive product in different ways On one hand, financial entities earn important incomes through management fees and, on the other hand, retail investors can get access to markets and products where they couldn´t invest through direct investment. Finally, the regulator wants this product to be the main investment vehicle for retail investors to be sure that this kind of non-qualified investments is only done by market professionals.The academic literature has widely dealt with the analysis and study of mutual funds because in these products other variables (rather than direct investment in financial assets) can have an influence on their risk and return measures. One example of these variables is the ability to select a portfolio manager with the skills needed to perform a good job...