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Management fees and portfolio performance: Who can charge higher Portfolio Management Fees and Why?
Thursday, October 15, 2015 at 8:45 AM–10:15 AM EDT
2-Gallery
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fund fees
Very short description for use in the program to help attendees understand more than a title can describe
This paper re-examines the relationship between management fees and portfolio performance. We take a different approach, rather than asking if the manager earns his/her fee, but rather what fund characteristics/attributes can allow a manager to charge a higher fee. We find as others have that management fee significantly impacts return. However, our results indicate that managers who “push the envelope” are able to charge higher fees than those who take the middle ground, regardless of whether their performance is good or bad.
Lead & Corresponding Author
Russell Gregory-Allen, Massey University
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Additional Authors
Hany Shawky, University at Albany
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