Australian equity mutual fund size effects

Research output: Contribution to journalArticlepeer-review

9 Citations (Scopus)
249 Downloads (Pure)


Berk and Green propose a model of a superannuation fund industry, with a limited population of superior fund managers and a competitive investor market. In this market, superior fund managers capture the value they generate, leaving investors with a normal return on their investment. Furthermore, it is argued that previous period returns, age of the fund and management costs explain variation in net cash flow paid into a fund over time. The Berk and Green predictions find some support in empirical tests, reported in the present paper, based on Australian Morningstar retail and wholesale equity fund data over the period 1995–2005.
Original languageEnglish
Pages (from-to)807-827
JournalAccounting and Finance
Issue number5
Early online date27 Aug 2008
Publication statusPublished - Dec 2008


Dive into the research topics of 'Australian equity mutual fund size effects'. Together they form a unique fingerprint.

Cite this