Variable

Period

Objective

Base Study

SELIC, Ibovespa, and the Dollar

2009-2015

Risk-free rate and benchmarks respectively, used as comparison measures for excess returns

Maestri and Malaquias (2018)

Size, Market, Moment, Resource, Cost/Rate, Flow, Age, Quota Value, and Risk

2001-2014

Analyze their behavior with respect to the fund performance

Fonseca et al. (2018) , Bessa and Funchal (2012) , Iquiapaza (2009) , Ceretta and Costa (2001) , Dalmácio et al. (2007) , Rochman and Ribeiro (2010)

Inflation, Interests, Exchange Rate, and Foreign Politics

2001-2014

Analyze their behavior with respect to the fund performance

Maestri and Malaquias (2018)

Management, Turnover, Initial Investment, Education Level

2007-2011

Analyze their behavior with respect to the fund performance

Milan and Júnior (2015)

Environmental and Social Aspect

2005

Analyze their behavior with respect to the fund performance

Campos and Lemes (2009)

Management, Composition, and Distribution Aspects of the Portfolio: Portfolio Composition, Manager Experience, Number of Funds Managed, Management Fee, and Performance

Analyze their behavior with respect to the fund performance

Present study