Sovereign Wealth Funds (SWFs) are an institutional investor class about which relatively little is known. Even though they have trillions of dollars in assets under management, their (typically) highly secretive nature renders them difficult to analyze in an academic context. We utilize...

Revenue sharing payments are mutual fund distribution costs that conflict with continuing shareholder interests by directly reducing fund assets and shareholder returns. The “stated” purpose of revenue sharing payments is to defray broker costs of servicing customer accounts and for...

The objective of this article is to take some of the mystery out of mutual fund revenue sharing, but without being able to say investors have transparent disclosure. It appears that most in the world of regulation and practice of revenue sharing lacks clarity, consistency, proper redress, and...

Revenue sharing payments are mutual fund distribution costs that conflict with continuing shareholder interests by directly reducing fund assets and shareholder returns. The “stated” purpose of revenue sharing payments is to defray broker costs of servicing customer accounts and for...

This study relates to the overall concern that mutual fund payments of sub-accounting fees to broker/dealers for sub-transfer agency, administration, sub-accounting, and other shareholder services may improperly include distribution related services. The topics begin with a review of the basic...

The objective of this study is to take some of the mystery out of mutual fund revenue sharing, but without being able to say investors have transparent disclosure. Topics begin with the transition from directed brokerage to revenue sharing. The discussions that follow include directed brokerage...

This paper investigates whether mutual fund families acting as service providers in 401(k) plans display favoritism toward their own affiliated funds. Using a hand-collected dataset on the menu of investment options offered to plan participants, we show that fund deletions and additions are less...

This paper investigates whether mutual fund families acting as service providers in 401(k) plans display favoritism toward their own affiliated funds. Using a hand-collected dataset on the menu of investment options offered to plan participants, we show that fund deletions and additions are less...