The size conundrum: Exploring the size and scale of Philippine mutual funds

Date of Publication


Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Management of Financial Institutions


Ramon V. Del Rosario College of Business


Financial Management Department

Thesis Adviser

Andy Umali

Defense Panel Chair

Edralin Lim

Defense Panel Member

Ferdinand Basallo

James Chan


Mutual funds are pool of investments from investors who share a common financial goal. This type of investment makes money when a security can pay the dividends and interests associated to the fund, or when a security rises in value. In the Philippines, there are currently four basic types of mutual funds, namely: balanced, bond, money market and equity funds. This study would focus on the last mentioned type of mutual fund, the equity fund.

Fund size, economies of scale and diseconomies of scale are issues that could impact the performance of mutual funds. This paper aims to study the effects of the aforementioned factors on six active equity mutual funds in the Philippines for the period 2008-2015.

The results show that the performance of mutual funds are not dependent on the size of the fund, rather it depends on how long it has been in the industry since fund age and the management age are the most significant variables in the study. Moreover, it depends on the approach of the fund manager and his intentions to invest the money in either small to big caps, high or low book market stocks, or winner or loser stocks.

Abstract Format






Accession Number


Shelf Location

Archives, The Learning Commons, 12F, Henry Sy Sr. Hall

Physical Description

100, 4 leaves : illustrations (some color) ; 28 cm. + 1 computer optical disc ; 4 3/4 in.


Mutual funds--Philippines; Stocks--Philippines

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