Lesseig, Vance P.; Long, D. Michael; Smythe, Thomas I. - In: Journal of Financial Research 25 (2002) 1, pp. 81-98
Although the number of mutual funds grew during the 1990s, much of the growth is attributable to the introduction of multiple share class (MS) funds. Proponents argue that the MS structure leads to cost savings, which can be passed onto investors as lower expenses. However, if the structure...