Aktiv fondförvaltning: Ger aktivt förvaltade fonder valuta för pengarna?
Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Funds and fund savings is something that concerns almost every Swedish household. However, the fees that banks and other fund institutes charge their customers diverge strongly. Researchers and debaters has questioned whether the higher fees that actively managed funds charge their investors compared to the passively managed funds is motivated since the previous category are not consider to create any surplus value. The purpose with this work is therefore to investigate whether the high fees that actively managed funds charge their investors is motivated or if the investors instead should choose the cheaper index funds. To be able to answer the purpose thirteen actively managed funds were selected. With help by the risk adjusted performance measures Sharpe and Jensen’s alpha their performance then were compared against a benchmark. The results from the study showed that the funds, neither on an individually or an aggregate level, managed to create a surplus value in shape of higher risk adjusted performance than the compared benchmark. The conclusion from the study is therefore that the higher fees that the funds charge their customers are not motivated and the advice to the investors would be to buy the cheaper index funds.
Place, publisher, year, edition, pages
2012. , 51 p.
Social Behaviour Law
Samhälls-, beteendevetenskap, juridik, CAPM, effektiva marknadshypotesen, Sharpekvoten, Jensens alfa, aktivt förvaltade fonder, indexfonder, riskjusterad avkastning
IdentifiersURN: urn:nbn:se:ltu:diva-51808Local ID: 8fe5e1e6-c90e-426e-a64d-27f39de6ad25OAI: oai:DiVA.org:ltu-51808DiVA: diva2:1025172
Subject / course
Student thesis, at least 15 credits
Economics, bachelor's level
Validerat; 20120618 (anonymous)2016-10-042016-10-04Bibliographically approved