Do ethical funds charge unethical fees?
by Praveen K. Das; S.P. Uma Rao
International Journal of Financial Services Management (IJFSM), Vol. 8, No. 4, 2016

Abstract: This paper examines the impact of 12b-1 fees of socially responsible mutual funds on funds' shareholders. Using a sample of 262 socially responsible funds, we find that 12b-1 fees are mainly deadweight costs and do not add any economic value to funds' shareholders. Our results suggest that fund shareholders of socially responsible funds pay the costs of 12b-1 plans but do not benefit in the form of lower operating expenses per share.

Online publication date: Mon, 30-Jan-2017

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