By Ray Russell
This consultant explains what mutual money are, how they've got constructed and the way they're used, regulated and administered around the globe. either open-ended and closed-ended money are defined and the diversities among the foreign markets, really united states, Europe and united kingdom are addressed.Written by way of winning coach and advisor, Ray Russell, the cloth displays the expansion and value around the globe of mutual cash as a way of making an investment in world wide financial improvement, no matter if to construct a fund for retirement or differently. Readers will achieve a uncomplicated appreciation of Mutual money of their many varieties, advocating using the mutual fund as a wise, effective and finally profitable technique of funding. It covers the origins, goal, improvement, makes use of, operation and law of mutual cash and attracts realization to similarities and changes among significant jurisdictions, commenting on their distinct good points and methods.
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Additional resources for An Introduction to Mutual Funds Worldwide (Securities Institute)
3 trillion 18 AN INTRODUCTION TO MUTUAL FUNDS WORLDWIDE remained below the level at the end of 1999. For some countries, the fall was from a peak achieved around that time; Spain, for example, peaked at the end of 1998, taking 5 years to the end of 2003 to recover. Italy, the UK, Japan, New Zealand and the Republic of Korea, all peaked at the end of 1999 and while most recovered by the end of 2003, Korea’s recovery came at the end of 2004 and Japan has yet to fully recover. In the US, the fall came later (2001 to 2002) and the recovery quicker (2002 to 2003).
1 WHO RUNS MUTUAL FUNDS? Mutual funds are run by professional fund managers, who may choose to appoint other professional bodies to undertake, under contract, one or more aspects of running their funds, such as: • investment managers – to manage the portfolio of • • • • investments; marketing companies – to advertise and promote the funds; selling agents – to actively sell the funds’ shares or units; administrators – to perform accounting and servicing functions; registrars or transfer agents – to maintain the registers of share- or unit holders.
In most countries, remuneration for retail fund managers based on performance is either not allowed or is restricted to particular types of fund – the hedge fund is one such. ’ is a question that will be asked more frequently. Impetus for growth can also be expected from industry efforts to improve and extend access via electronic exchanges and to present the advantages of the product to an ever-increasing number of people requiring a home for pension contributions or like savings. Recent statistics The following table displays the growth in number of funds and, for most countries/regions, the decline and revival of NAV over the last 5 years.
An Introduction to Mutual Funds Worldwide (Securities Institute) by Ray Russell