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Funds of funds are an increasingly popular avenue for hedge fund investment. Despite the increasing interest in hedge funds as an alternative asset class, the high degree of fund specific risk and the lack of transparency may give fiduciaries pause. In addition, many of the most attractive hedge...
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The active mutual fund equilibrium model developed by Berk and Green (2004) predicts that fees should not matter for investors’ mutual fund choices. We examine how fees influence demand for active mutual funds by analyzing time variation in funds’ fees. Since investors should not pay "alpha...
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Banks impose a variety of account fees, and credit card issuers impose a variety of fees related to card usage. Using detailed data from a 2021 representative diary survey of US consumers, we investigate whether lower-income consumers and Black consumers are more likely to pay bank account or...
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dynamics of late fee charges by constructing a database of issuer practices, to help understand how issuers set fees and finds …. The type of issuer is strongly associated with late fee charges. The single best predictor of the amount an institution … charges as a late fee is whether the issuer is a credit union. Credit unions charged a median fee of $20 compared to banks …
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