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Exchange traded funds versus active and passive unit trusts : an economic perspective
Dissertation (MBA)--University of Pretoria, 2012.
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| Format: | Thesis |
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University of Pretoria
2013
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| _version_ | 1867613635815145472 |
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| access_status_str | Open Access |
| author2 | Ward, Mike |
| author_browse | Ward, Mike |
| author_facet | Ward, Mike |
| collection | Thesis |
| dc_rights_str_mv | © 2012 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Dissertation (MBA)--University of Pretoria, 2012. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/29313 |
| institution | University of Pretoria (South Africa) |
| last_indexed | 2026-06-10T12:39:17.410Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2013 |
| publishDateRange | 2013 |
| publishDateSort | 2013 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/29313 Exchange traded funds versus active and passive unit trusts : an economic perspective Ward, Mike ichelp@gibs.co.za Andhee, Avinash UCTD Expense ratio Etfs Index funds Unit trusts Dissertation (MBA)--University of Pretoria, 2012. Exchange traded funds (ETFs) are a relatively recent financial innovation receiving much attention from investors and media due to its low administrative costs. Literature related to ETF performance presents no sizeable records as a result of its brief history.This study contributes to the literature on ETF performance by comparing ETFs to their respective tracking indices as well as to comparable passive unit trusts (PUTs) and active unit trusts (AUTs) after administrative costs. Data used involved ETFs that are derived from securities listed on the Johannesburg Stock Exchange (JSE) that track FTSE/JSE indices. PUTs and AUTs were selected on the basis that they use the same FTSE/JSE indices, as the ETFs, as a benchmark.The results indicate that ETFs have a slightly lower tracking error than PUTs due to lower administrative costs. On average, ETFs and PUTs present statistically insignificant net return differences and it can be inferred that they have very similar return records. Furthermore, ETFs and AUTs, on average, also present statistically insignificant net return differences and it can be inferred that they have very similar return records. Gordon Institute of Business Science (GIBS) unrestricted 2013-09-07T15:20:51Z 2013-04-18 2013-09-07T15:20:51Z 2013-04-25 2012 2013-02-16 Dissertation Andhee, A 2012, Exchange traded funds versus active and passive unit trusts : an economic perspective, MBA dissertation, University of Pretoria, Pretoria, viewed yymmdd < http://hdl.handle.net/2263/29313 > F13/4/124/zw http://hdl.handle.net/2263/29313 http://upetd.up.ac.za/thesis/available/etd-02162013-103314/ © 2012 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Expense ratio Etfs Index funds Unit trusts Exchange traded funds versus active and passive unit trusts : an economic perspective |
| title | Exchange traded funds versus active and passive unit trusts : an economic perspective |
| title_full | Exchange traded funds versus active and passive unit trusts : an economic perspective |
| title_fullStr | Exchange traded funds versus active and passive unit trusts : an economic perspective |
| title_full_unstemmed | Exchange traded funds versus active and passive unit trusts : an economic perspective |
| title_short | Exchange traded funds versus active and passive unit trusts : an economic perspective |
| title_sort | exchange traded funds versus active and passive unit trusts an economic perspective |
| topic | UCTD Expense ratio Etfs Index funds Unit trusts |
| url | http://hdl.handle.net/2263/29313 http://upetd.up.ac.za/thesis/available/etd-02162013-103314/ |