Publication: Tres ensayos sobre selección de fondos de inversión y de fondos de fondos: viabilidad de ratios e influencia de comisiones
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2022-01-26
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Universidad Complutense de Madrid
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Abstract
Los fondos de inversión son un producto que suscita mucho interés desde diversos ámbitos. Por un lado, las entidades financieras obtienen importantes ingresos mediante comisiones de gestión y, por otro lado, el inversor minorista puede acceder a mercados y productos a los que no tendría acceso mediante la inversión directa. Finalmente, el regulador desea que este producto sea el principal vehículo de inversión del partícipe minorista para asegurarse que este tipo de inversiones no cualificadas se encuentra en manos de profesionales. La literatura académica también se ha ocupado ampliamente del análisis y estudio de los fondos de inversión, debido a que en estos productos son otras variables (diferentes a la inversión directa en activos financieros) las que pueden influir en las medidas de rentabilidad y riesgo de los mismos como, por ejemplo, el ser capaces de seleccionar un gestor con las cualidades necesarias para desempeñar un buen trabajo...
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...
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...
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Tesis inédita de la Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, leída el 14-10-2021