Im langfristigen Zeithorizont der kapitalgedeckten Altersvorsorge kommt Kostenunterschieden zwischen verschiedenen Anlageformen große Bedeutung zu. In der vorliegenden Arbeit wurde das Kostenniveau von Rentenversicherungen und Investmentsparplänen, deren Guthaben bei Fälligkeit in eine...

This paper studies the flow-performance relationship of three different investor groups in mutual funds: Households, financial corporations, and insurance companies and pension funds, establishing the following findings: Financial corporations have a strong tendency to chase past performance and...

This study analyzes current regulation with respect to the use of derivatives and leverage by mutual funds in the U.S. and Germany. After presenting a detailed overview of U.S. and German regulations, this study thoroughly compares the level of flexibility funds have in both countries. I find...

This study analyzes current regulation with respect to the use of derivatives and leverage by mutual funds in the U.S. and Germany. After presenting a detailed overview of U.S. and German regulations, this study thoroughly compares the level of flexibility funds have in both countries. I find...