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Custos de transação em investimentos coletivos

We study the effect of transaction costs in collective investment schemes such as investment funds or investments pools. We consider a group of partners or independent investors who contributed for a project with different amounts and now need to get even through financial transfers which involve transaction costs. Those transfers have to be made in an optimal way, minimizing the amount paid in commissions or fees. The problem is first tackled in an intuitive way. The steps employed are later justified, leading to a simple algorithm for the computation of the solution.


Fundação Getúlio Vargas Praia de Botafogo, 190 11º andar, 22253-900 Rio de Janeiro RJ Brazil, Tel.: +55 21 3799-5831 , Fax: +55 21 2553-8821 - Rio de Janeiro - RJ - Brazil
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