This paper compares the performance results of Spanish mutual fund managers and the market timing results obtained using traditional measures and those obtained using measures that consider time variations in returns and risks by incorporating macroeconomic variables representative of Spanish...

This paper compares the performance results of Spanish mutual fund managers and the market timing results obtained using traditional measures and those obtained using measures that consider time variations in returns and risks by incorporating macroeconomic variables representative of Spanish...

Pension funds represent a substantial part of welfare systems, so efficient management is important for beneficiaries. However, performance may be seriously affected by fees. This fact led us to analyze the relation between fees and performance in Spanish equity and bond pension funds with a...