Performance and Investor flows of mutual funds affiliated with commercial banking groups: evidence from the Nordic countries and the United Kingdom

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School of Business | Bachelor's thesis
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Date
2020
Major/Subject
Mcode
Degree programme
Rahoitus
Language
en
Pages
25 + 4
Series
Abstract
In this paper I study the effects that commercial bank-affiliation has on the performance and investor flows of domestic equity mutual funds operating in Denmark, Finland, Norway, Sweden and the United Kingdom. I present evidence that funds affiliated with commercial banking groups outperform unaffiliated funds by 200,5 basis points per year. The performance effect of affiliation varies both in direction and magnitude across different time periods. I present evidence that affiliation with a commercial banking group costs an average mutual fund in the sample countries 286 600 EUR of Investor Net Flows annually.
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Thesis advisor
Spickers, Theresa
Keywords
mutual fund, performance, investor flow, commercial bank
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