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dc.description.abstractThe Asset Management industry is a highly recognized prosperous industry and it incorporates within its market the passive and the active investment strategies. With the introduction of Passive Investment financial products in the early 1990s, the Asset Management Industry experienced a shift in its clientele. As the 2008 financial crisis unfolded, many Mutual Fund companies closed their doors and filed for bankruptcy, leading to many investors to resort to alternative investment products such as ETFs. Registering returns similar to Mutual Fund, whilst charging lower fees, ETFs are proving to be the perfect substitutes for Mutual Fund investment. This study set out to compare the costs and the returns of several ETFs and Mutual Funds, to conclude whether ETFs can be defined as genuine substitutes of Mutual Funds. It also intended to determine the extent to which prospective investors take fees and past returns of a particular ETF into consideration when choosing between one ETF and another. Five time-series regressions were investigated from which it was discovered that whilst past returns are very much taken into consideration, fees are not. Such results need to be interpreted with caution given that the regression analyses are not very robust. This dissertation emphasises the importance of healthy competition within the Asset Management industry, from which Investors can benefit through lower fees and better investment performance.en_GB
dc.subjectMutual fundsen_GB
dc.subjectFinancial crisesen_GB
dc.subjectInvestment analysisen_GB
dc.subjectPortfolio management -- Mathematical modelsen_GB
dc.titleThe commoditisation of financial products : a comparative analysis of passive funds with relation to active fundsen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.publisher.institutionUniversity of Maltaen_GB
dc.publisher.departmentFaculty of Economics, Management and Accountancy. Department of Banking & Financeen_GB
dc.contributor.creatorBonello, Charlene
Appears in Collections:Dissertations - FacEma - 2015
Dissertations - FacEMABF - 2015

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