The Role of impersonal data disclosure in the selection of Australian retail investment funds

Nigel Finch

Research output: Chapter in Book/Report/Conference proceedingConference proceeding contribution

Abstract

The purchase decision for a retail investor is complex, and is based upon multiple attributes derived from impersonal and interpersonal information sources. In this paper we look at the important role that impersonal data disclosure plays in the selection and retention of Australia’s 2,637 retail equity investment funds. We find that fund size, past performance, agency ratings, and the management expense ratio (MER) are widely used by retail investors in investment decision making. We conclude that the only disclosure that provides any valuable utility to a retail investor is the MER. As such, the MER should be the key selection criteria for retail investors when making choices regarding investment funds.
Original languageEnglish
Title of host publicationProceedings of the Allied Academies International Internet Conference
EditorsJo Ann Carland, Jim Carland
Place of PublicationCullowhee, NC
PublisherAllied Academies
Pages7-11
Number of pages5
Volume7
Publication statusPublished - 2005
EventAllied Academies International Internet Conference (8th : 2005) - Las Vegas, NV
Duration: 18 Jul 200531 Jul 2005

Conference

ConferenceAllied Academies International Internet Conference (8th : 2005)
CityLas Vegas, NV
Period18/07/0531/07/05

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