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Del Guercio and Reuter (2014) find: Multiple Choice both types of investors did as well or better than index funds. direct-purchase mutual fund investors outperform those who purchase through brokers. both types of investors underperformed index funds. broker-purchase mutual fund investors outperform those who direct purchase directly..

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Del Guercio and Reuter (2014) find: Multiple Choice both types of investors did as well or better than index funds. direct-purchase mutual fund investors outperform those who purchase through brokers. both types of investors underperformed index funds. broker-purchase mutual fund investors outperform those who direct purchase directly.

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