RT Journal Article
SR Electronic
T1 Do Mutual Funds Marketed to African American Investors Extract Excess Rent?
JF The Journal of Index Investing
FD Institutional Investor Journals
SP 45
OP 50
DO 10.3905/jii.2013.4.1.045
VO 4
IS 1
A1 Philip Gibson
A1 Michael Finke
YR 2013
UL https://pm-research.com/content/4/1/45.abstract
AB There is evidence that black investors prefer to invest in either black-owned or black-managed mutual funds as part of their portfolio. This study investigates the performance and the costs of mutual funds that that have been identified as being either African American-owned or managed. Using data from Morningstar Direct, we produce results revealing that black mutual funds, on average, have lower fees as compared with conventional funds. Additionally, we find that there is no statistical difference in the performance of black mutual funds compared with their conventional counterparts.TOPICS: Mutual fund performance, in portfolio management, portfolio construction