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MASTER THESIS
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A comparative study of the determinants of Belgian and Luxembourg mutual funds' ongoing charges

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Schroyen, Louis ULiège
Promotor(s) : Lambert, Marie ULiège
Date of defense : 5-Sep-2018/11-Sep-2018 • Permalink : http://hdl.handle.net/2268.2/5796
Details
Title : A comparative study of the determinants of Belgian and Luxembourg mutual funds' ongoing charges
Author : Schroyen, Louis ULiège
Date of defense  : 5-Sep-2018/11-Sep-2018
Advisor(s) : Lambert, Marie ULiège
Committee's member(s) : Moreno Miranda, Nicolas ULiège
Maclot, Philippe 
Language : English
Number of pages : 98
Keywords : [en] Ongoing charges figure
[en] recurring charges
[en] determinants
[en] mutual funds
[en] Belgium
[en] Luxembourg
[en] costs
[en] UCITS
[en] fees
[fr] Belgique
[fr] Luxembourg
[fr] fonds d'investissement
[fr] OPCVM
[fr] frais
[fr] charges récurrentes
Discipline(s) : Business & economic sciences > Finance
Target public : Researchers
Professionals of domain
Student
General public
Institution(s) : Université de Liège, Liège, Belgique
Degree: Master en sciences de gestion, à finalité spécialisée en Banking and Asset Management
Faculty: Master thesis of the HEC-Ecole de gestion de l'Université de Liège

Abstract

[en] This study consists in a comparative study of the determinants of Belgian and Luxembourg mutual funds' ongoing charges. In this study, a sample of UCITS funds domiciled in Belgium and Luxembourg are considered over the period 2014-2017. Its purpose is to highlight the determinants of the ongoing charges figure incurred by investors, the way it compares amongst the two countries under scrutiny and how the country of domicile interacts with determinants identified in the existing literature. The main results of this study suggest that Luxembourg UCITS benefit from a comparative cost-advantage on ongoing charges when compared with Belgian UCITS. Such a difference is partly attributable to the economies of experience found to be achieved exclusively by Luxembourg funds. It is also explained by the relatively lower increase in ongoing charges resulting from cross-border distribution. Yet, the results obtained suggest that this advantage is less prevalent for an investor choosing to invest through a sales intermediary and being charged a load.


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Author

  • Schroyen, Louis ULiège Université de Liège > Master sc. gest., à fin.

Promotor(s)

Committee's member(s)

  • Moreno Miranda, Nicolas ULiège Université de Liège - ULiège > HEC Liège : UER > Analyse financière et finance d'entreprise
    ORBi View his publications on ORBi
  • Maclot, Philippe
  • Total number of views 27
  • Total number of downloads 13










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