Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Business
Off The Rack Versus Savile Row: The Value Of Custom Tailoring For Equity Investors, Steven D. Dolvin, John Gonas
Off The Rack Versus Savile Row: The Value Of Custom Tailoring For Equity Investors, Steven D. Dolvin, John Gonas
Scholarship and Professional Work - Business
eparately managed accounts (SMAs) generally carry a higher fee structure than standard mutual funds, but managers tout the ability to customize accounts as being worthy of this higher cost. This customization may increase returns, or it may simply allow for more personalized tax management or control over other unique circumstances. • Very little research exists on the relative return benefit of SMAs compared with actively managed mutual funds. We fill this gap by examining firms that offer concurrently managed funds-SMAs as well as matching mutual funds run by the same manager(s) and following the same general strategy. • We find …