An emulation fund is designed to reduce trading activity, thereby lowering costs, for a multi-manager fund. It does this by delaying, and potentially combining, trading decisions from each employed fund manager to eliminate offsetting trades (e.g. one manager may buy a stock for her fund while...

An emulation fund is designed to reduce trading activity, thereby lowering costs, for a multi-manager fund. It does this by delaying, and potentially combining, trading decisions from each employed fund manager to eliminate offsetting trades (e.g. one manager may buy a stock for her fund while...

Superannuation fund fees have come under public scrutiny in recent years, with some observers arguing that fees are set too high. This report focuses on a sample of Australian superannuation funds to gain a better understanding of the factors that influence the fees that they charge. We examine...

There is considerable debate about the size of fees charged by superannuation funds. This paper investigates both investment fees and administration fees and shows that there are economically valid reasons why most investment fees are set at their current level. Our results show that on average,...

Superannuation fees have come under public scrutiny in recent years with the belief that many are set too high. Using a comprehensive dataset of Australian superannuation funds, we examine the relationship between investment fees and fund performance. We find that the most expensive funds...