The Black Box of Mutual Fund Fees

This paper re-examines the determinants of mutual fund fees paid by mutual fund shareholders for management costs and other expenses. There are two novelties with respect to previous studies. First, each type of fee is explained separately. Second, the paper employs a new dataset consisting of Spanish mutual funds, making it the second paper to study mutual fund fees outside the US market. Furthermore, the Spanish market has three interesting characteristics: (i) both distribution and management are highly dominated by banks and savings banks, which points towards potential conflicts of interest; (ii) Spanish mutual fund law imposes caps on all types of fees; and (iii) Spain ranks first in terms of average mutual fund fees among similar countries. We find significant differences in mutual fund fees not explained by the fund’s investment objective. For instance, management companies owned by banks and savings banks charge higher management fees and redemption fees to nonguaranteed funds. Also, investors in older non-guaranteed funds and non-guaranteed funds with a lower average investment are more likely to end up paying higher management fees. Moreover, there is clear evidence that some mutual funds enjoy better conditions from custodial institutions than others. In contrast to evidence from the US market, larger funds are not associated with lower fees, but with higher custody fees for guaranteed funds and higher redemption fees for both types of funds. Finally, fee-setting by mutual funds is not related to fund before-fee performance.

Jarduera fisikoak adineko pertsona autonomoen osasunean duen eragina

294 p. : il.

The long road of climate negotiations: From Kyoto to Paris stopping over in Doha

4 p.

The role of syllables in sign language production

The aim of the present study was to investigate the functional role of syllables in sign language and how the different phonological combinations influence sign production. Moreover, the influence of age of acquisition was evaluated. Deaf signers (native and non-native) of Catalan Signed Language (LSC) were asked in a picture-sign interference task to sign picture names while ignoring distractor-signs with which they shared two phonological parameters (out of three of the main sign parameters: Location, Movement, and Handshape). The results revealed a different impact of the three phonological combinations. While no effect was observed for the phonological combination Handshape-Location, the combination Handshape-Movement slowed down signing latencies, but only in the non-native group. A facilitatory effect was observed for both groups when pictures and distractors shared Location-Movement. Importantly, linguistic models have considered this phonological combination to be a privileged unit in the composition of signs, as syllables are in spoken languages. Thus, our results support the functional role of syllable units during phonological articulation in sign language production.

"Nortia, te veneror" (CLE 1530 = CIL 6. 537): la defensa de Avieno de la fortuna y del encomio propio

Este trabajo ha sido realizado dentro del Grupo de Investigación GIU 10-19 “LITTERARVM. Grupo de Investigación en Literatura, Retórica y Tradición Clásica” de la UPV/EHU.

Analysis and evaluation of public health policy in Cuba : progress on millennium development goals

[EN] The main objective of this project is to analyze Cuban public health policy and the Millennium Development Goals, especially those linked to the issue of health, presenting their potential and strengths with a well-defined time horizon (2000-2015). The Millennium Development Goals are the international consensus on development and was signed as an international minimum agreement, with which began the century. The MDGs promote various goals and targets, with the corresponding monitoring indicators, which should be achieved by all countries for the present year. Health is an area that is at the center of the Millennium Development Goals, which reinforce each other to get a true human development itself. The research was done through theoretical frameworks of social production of health and disease, social justice and the power structure. A retrospective analysis of Cuban economic and social context is performed in order to study whether health-related MDGs are likely to be completed by the deadline on the island and likewise, the main parameters related to health compared with those of the neighboring countries in the Americas.

Mindfulness: guía práctica para educadores

[ES]Esta guía está dirigida a docentes del ámbito de la educación tanto formal como no formal que se apunten a un curso de mindfulness para liberar su estrés, ansiedad… y poder llevar así una vida más sana. No obstante, también se puede aplicar para educadores de educación informal, a saber, a todo tipo de personas que quieran vivir mejor a nivel físico-psíquico. Los objetivos de esta guía del mindfulness son los siguientes: -Aprender qué es y en qué consiste el mindfulness. -Aprender a meditar -Conocer los beneficios que aporta el mindfulness a nivel neurobiológico, físico y psíquico. Aprender a afrontar las emociones negativas. -Aprender a reconocer nuestras emociones -Aprender a relajarnos en momentos en los que nos sintamos tensos -Aprender a aplicar el mindfulness con nuestr@s hij@s (ejercicios prácticos)