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An initial analysis of African Mutual Fund Fees and expenses
Includes bibliographical references
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| Main Author: | |
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| Other Authors: | |
| Format: | Thesis |
| Language: | English |
| Published: |
Department of Finance and Tax
2016
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| _version_ | 1867613315286433792 |
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| access_status_str | Open Access |
| author | Wright, Graysen Gordon |
| author2 | Holman, Glen |
| author_browse | Holman, Glen Wright, Graysen Gordon |
| author_facet | Holman, Glen Wright, Graysen Gordon |
| author_sort | Wright, Graysen Gordon |
| collection | Thesis |
| description | Includes bibliographical references |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/16795 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:34:10.861Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2016 |
| publishDateRange | 2016 |
| publishDateSort | 2016 |
| publisher | Department of Finance and Tax |
| publisherStr | Department of Finance and Tax |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/16795 An initial analysis of African Mutual Fund Fees and expenses Wright, Graysen Gordon Holman, Glen Financial and Risk Management Includes bibliographical references The core objective of this study is to compile an African Mutual Fund database with a focus on fees charged, expenses borne and fund sizes. Until now, no consolidated database of African Mutual Fund expenses exists. The ancillary goal of the paper is to arrange the dataset in order to perform basic statistical analysis; and to test for the existence or non-existence of a number of internationally established relationships between fund fees, expenses and other variables in an African context. The paper aims to establish both similarities and abnormalities relating to the efficiency of African Mutual Funds in comparison with their international counterparts. No prior work has been produced in the context of African Mutual Funds as the industry has been overlooked, until recently, due to the growing perception of Africa representing the final frontier for investors seeking abnormal returns. The fundamental data utilized in this research paper includes African Mutual Fund Total Expense Ratios, Net Asset Values (NAVs), and mean Total Expense Ratios (TERs) for international mutual funds with no particular geographical limitations. This paper achieves its objective of collating a comprehensive database of African Mutual Fund fees, expenses, size and other variables. Findings include weak evidence confirming the inverse relationship between the level of financial market development and mutual fund expense ratios, the inverse relationship between mean expense ratios per country and the strength of investor protection in the related country, and a positive relationship between fund family size and mean TERs - indicating the presence of scale economies in African Mutual Fund families. All such findings are in line with empirical evidence presented by international studies. Consistent with other exploratory research, the paper includes a number of unexpected findings and observations regarding the general disarray of corporate governance in the African Mutual Fund industry. A foundation for the research of African funds has been built, and is intended to serve as a platform for future research as African financial markets continue to develop. 2016-02-05T07:27:26Z 2016-02-05T07:27:26Z 2015 Master Thesis Masters MCom http://hdl.handle.net/11427/16795 eng application/pdf Department of Finance and Tax Faculty of Commerce University of Cape Town |
| spellingShingle | Financial and Risk Management Wright, Graysen Gordon An initial analysis of African Mutual Fund Fees and expenses |
| thesis_degree_str | Master's |
| title | An initial analysis of African Mutual Fund Fees and expenses |
| title_full | An initial analysis of African Mutual Fund Fees and expenses |
| title_fullStr | An initial analysis of African Mutual Fund Fees and expenses |
| title_full_unstemmed | An initial analysis of African Mutual Fund Fees and expenses |
| title_short | An initial analysis of African Mutual Fund Fees and expenses |
| title_sort | initial analysis of african mutual fund fees and expenses |
| topic | Financial and Risk Management |
| url | http://hdl.handle.net/11427/16795 |
| work_keys_str_mv | AT wrightgraysengordon aninitialanalysisofafricanmutualfundfeesandexpenses AT wrightgraysengordon initialanalysisofafricanmutualfundfeesandexpenses |