Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 24, 2007 erstellt
Description:
During the last 10 years (1997-2006), the average return of the mutual funds in Spain (2.7%) was smaller than the average inflation (2.9%). Nevertheless, on December 31, 2006, 8,819,809 investors in the 2,779 existing mutual funds had 254 billion euros. 246 new mutual funds were launched during 2006. Only 23 of the 649 mutual funds with 10-year history outperformed the benchmark