Abstract This paper discusses closed-end mutualfunds. It looks at why most investors involved with mutualfunds opt for open-end funds for investments. It describes the many types of mutualfunds and contends that in contrast with an open-end mutualfunds, a so-called closed-end mutualfund is not a mutualfund at all.
From the Paper "The pricing of securities in the financial markets is, in theory, based on the function of the efficient markets hypothesis. The efficient markets hypothesis among other things assumes that all investor always act rationally in relation ..."
Abstract This paper analyzes Tiger Global and its security for investors. First, the author describes mutualfunds in detail. Then the operations of Tiger Global are considered. The author includes an extensive literature review. Finally, he cautions the investor that although Tiger Global has good returns, it is a volatile and risky fund.
List of Tables, Graphs, and Illustrations
Table 1: Tiger's Record
Table 2: Tiger's Growth
Table 3: Tiger's Net Performance.
Table 4: Types of Information Included in MutualFund Ads
Table 5: Pricing Related Information Included in MutualFund Ads
From the Paper "The purpose of a study such as this one is to show that there are many issues that surround a particular company and a particular industry, and that businesses must be examined in order to determine whether their strategies are appropriate for what they are attempting to do. In other words, is the business in question performing the way it should be performing in order to continue to succeed? The importance of this should not be underestimated, as many individuals that invest money in mutual and other funds cannot afford to lose this money, and are relying on the money for specific and important expenses. It is important that these individual investors understand the risk that they are taking, so that they will not encounter a significant financial problem if the fund that they have invested in does not perform up to expectations."
Abstract A paper analyzing the benefits and risks of mutualfunds verses building your own portfolio of stocks. The paper explains that mutualfunds are advantageous by offering professional management, little out-of-pocket expense, instant diversification, and some personalization. On the other hand, self-builders have total control over their investment, can get an up-to-minute analysis of the stocks performance and can go for the higher yield items mutualfund avoid.
Abstract This paper provides an overview of mutualfunds, investment vehicles that pool the money of thousands of investors to invest in a wide variety of securities with a specific objective. It discusses how mutualfunds provide professional management and diversification and, because of this, are safer and less volatile than individual stocks or bonds. It examines how different classes of mutualfunds have different objectives, such as growth, growth and income, income, etc. and how the mutualfund or funds that investors select reflect their objectives and tolerance for risk.
Table of contents:
Introduction
Types of MutualFunds MutualFund Fees
Distributions and Their Tax Consequences
Kinds of Funds Available
My Investment Options
Conclusion
Bibliography
From the Paper "Generally, there are two types of mutual funds. The first type is called an "open-ended" fund. In an open-ended fund, the fund does not have a set number of shares. It will continue to issue shares as long as investors will buy them. Investors can also redeem shares. At the end of each trading day, the fund manager will calculate the net asset value (NAV) of the fund. The NAV is the total value of the assets held by the fund divided by the total number of fund shares. Shares are purchased or redeemed on the basis of the NAV. "
This paper discusses investing in various international mutualfunds, describes individual funds, and compares international funds to mutualfunds in the U.S.
Abstract This paper explains that there are four types of international mutualfunds: The international funds, which invest only in well-known markets outside the U.S. such as Germany, France, Japan, Hong Kong and Australia; the global funds, which contain mixtures of U.S. and international stocks; the regional funds, which concentrate in geographic areas like Latin America, the Pacific Rim and Europe, with the concentration of these firms in small countries and emerging markets; and the country funds, which concentrate only on one country. The author points out that international funds are useful when it is felt that the U.S. market is not doing so well, and the emerging markets in the foreign countries are expected to perform better than the U.S. market. The paper relates that an important feature of international funds is that they give small investors an opportunity to invest in shares all over the world, an activity that would be very difficult or expensive to pursue on their own and that provides a good opportunity for diversification.
Table of Contents
MutualFunds, the Dynamic Market
What is a MutualFund?
The Choice of International Funds How Does One Know What the Fund is Doing?
From the Paper "The aim of any mutual fund is to pool in the money from different investors and put it in a position where it can be managed by professionals. The manager makes the trades, realizes the gain or loss, and collects the income in the form of dividend or interest. The gains or losses are then passed on to the individual investors. The operation of most funds are open-ended, and that means that the investment company is at liberty to issue new shares to investors, and also undertakes to buy back shares from investors who want to leave the fund. There are also close ended funs which issue a fixed number of shares, and only these can be bought or sold by the investors among themselves through a stock exchange. The person who has issued these closed funds is not responsible for redeeming them, so the trading of these has to be only through a broker."
Tags: information, mathews-asian, blair, fremont, japan
Abstract In this article, the writer explains that a mutualfund is simply a pool of money that is invested by a manager with the goal of increasing the value of each share of the fund for its investors. The writer further explains that a mutualfund provides investors with diversification of their portfolios, thereby spreading risk and providing the convenience of buying and selling shares in the fund on any business day. The writer then notes that more and more average investors are seeking out investment opportunities in mutualfunds, and the research shows that such funds exist for virtually any investment goal or objective. This study then provides a critical evaluation of the mutualfunds industry in general and the use of mutualfunds in India in particular. A comparison of Indian investment options that evaluates domestic versus overseas investments is provided, as well as a review of typical company strategies and an analysis of the riskiness of these respective investments.
Table of Contents:
Chapter 1: Introduction
Statement of the Problem
Hypothesis
Rationale
Definition of Key Terms
Chapter 2: Literature Review
Chapter 3: Methodology
Statistical Analysis
Data Collection
Chapter 4: Data Analysis
Chapter 5: Summary, Conclusions and Recommendations
References
Appendix A
From the Paper "Venture capital activity in India was formalized in 1988 when the central government announced guidelines for the establishment and functioning of the industry. Venture capital companies sprang up, several sponsored by government development financial institutions. With significant economic liberalization policies introduced by the central government in 1991, more domestic and foreign venture capital companies began operations. In 1996, the central government introduced new and improved guidelines for regulating India's venture capital industry. In spite of this significant progress, growth of the industry has been restricted by several factors, including conservative government policies, limitations on the availability of funds, and an inadequate equity market infrastructure."
Abstract This paper looks at the history of pooled monetary funds. It discusses the difficulties experienced throughout recent history to get this concept publicly accepted but how, now, this is a very popular institution. It examines one example of this concept - Hedge funds, and the difficulties faced in marketing this concept in Europe.
From the paper:
"The idea of pooling money together for the purpose of investing started in Europe in the mid-1800s. The first pooled fund in the United States was created in 1893 for the faculty and staff of Harvard University. On March 21, 1924, the first mutualfund was started in the United States. It was called the Massachusetts Investor's Trust. It grew from $50,000 in assets in 1924 to $392,000 one year later with approximately 200 shareholders. Today there are over 10000 in mutualfunds in the US today totaling around $7 trillion dollars with approximately 83 million investors, according to Dustin Woodard at About.com."
Abstract This paper begins by providing a basic definition of both mutualfunds and common stocks and explains the differences between the two. It then lists all the benefits of mutualfunds and proceeds to examine the risks involved too. It then discusses the benefits of "self-building" one's own stock portfolio and also looks at the risks involved in this practice.
From the Paper "What exactly is the difference between mutual funds and common stock? In essence, a stock is a single entity of commerce. When you invest in a share, you own that share and make money from it (you hope) when it is sold. A mutual fund, however, is a group of investments organized by a professional manager or team of managers. When an investor buys into a mutual fund, he or she is actually buying a diverse field of investments. The fund may be solely comprised of stocks, or other items, such as bonds and securities may be added. Both items, stocks and mutual funds, have advantages and disadvantages which will be discussed in detail."
Abstract This paper covers the complete definitions, process and risks associated with mutualfunds. It is factual data appropriated from relevant sources.
Abstract This paper examines and compares ten families of funds that are currently offered to investors in India, comprising approximately 140 different investing schemes. It explores the characteristics of the schemes offered, the investor objectives associated with various types of schemes, the elements of risk, the returns sought, and the net asset value of each of the funds available. Further, it also examines the performance of these schemes visa-vie each other and established benchmarks.
From the Paper "Investment objectives vary according to the age and status of the individual investor, the time frame for the investment, and the level of risk an investor is willing to undertake in order to make a profit. While it is difficult to generalize, standard investment objectives for investors who are younger or just starting out often seek a) to establish an emergency fund, b) to accumulate intermediate and long-term growth, and c) to maximize tax-deferred savings. A good rule of thumb for an emergency fund is to accumulate three to six months of living expenses. To accomplish this, an investor would choose a fund that invested in cash and cash equivalent or fixed savings categories, because they are deemed both safe and liquid, meaning that it would be relatively easy to convert the fund to cash if needed."
Abstract In the summer of 2002, when Congress was attempting to decide how to clean up the shady financial practices of corporate America, mutualfund company lobbyists convinced lawmakers to exempt their area of the financial services industry. Since then, this industry has occupied center-stage in the spotlight targeted at ethical problems in financial management. This paper shows that there are a number of important ethical issues that have been ignored by mutualfund managers and their firms, issues that are of great concern to investors, legislators, and regulators. These areas of concern include conflicts of interest, director independence, and transparency of fee and expense reporting.
From the Paper "There is a notable lack of independence among the members of the boards of directors who are supposed to be making sure mutual funds are run in the best interest of the investors. The watchdog role of a fund's board of directors theoretically includes not only watching the big picture, but also the minutiae of the funds? service contracts, operations and investment policies. These board members should be free of potential conflicts of interest in order to play the biggest role possible in making sure the best interests of their funds? shareholders are served."
Abstract This paper examines large cap stocks. It defines large cap companies and discusses which types of companies are generally considered to be large cap. The paper then looks at investment in large caps stocks, especially at making such stock purchases through a mutualfund investment vehicle and how mutualfunds can be classified.
From the Paper "Many of these same investors will be making such stock purchases through a mutual fund investment vehicle. A mutual fund is managed in much the same manner as an individual portfolio. The one key difference is that there are a lot of investors putting their money into a mutual fund. The mutual fund's manager is bound to follow the investment path that would most likely be successful in reaching the mutual fund's goal or objective. Since there are a variety of investors seeking to invest varying dollar amounts, each fund must state explicitly what it is attempting to achieve."
Abstract This paper examines the benefits of 401k employee retirement plans. It describes the plans flexibility in enabling the individual to choose their own invest strategy and risk level. The paper illustrates that this plan is often enhanced by employers matching funds, which enables the company to build greater staff loyalty. The paper explores many different mutualfunds, which can be a part of a 401k plan, that are on the financial market today.
From the Paper "The 401k employer funded retirement plan is one of the most flexible and favorable retirement plans that a company can make available to its staff. The regulations are extensive, but straight forward. The method of investing offers its participants individualized choices in investment strategy based on their own risk tolerance and the investments accumulate at a tax deferred rate of growth. Employers can choose to contribute matching funds, and assist the process in which employees become more responsible for their own retirement. These factors tend to build employee loyalty between well trained staff, and the company which needs them in order to continue a successful growth curve."
This paper discusses the unethical business decisions of Putnam Investments, which was involved in one of the worst trading scandals and the first in the mutualfunds industry.
Abstract The paper explains that one's personal views cannot completely support whether Putnam Investments made ethical decisions; therefore, this ethical evaluation utilizes the Stakeholder Theory, Utilitarianism, Friedman's Approach, Aristotle, and Kant's deontology. The author points out that market-timing is a serious issue in the mutualfund arena; it may not necessarily be illegal, but is definitely frowned upon in the business world. Milton Friedman's profit theory would argue that Putnam's market-timing fraud is unethical because the fund managers were not acting in the best interest of the company. The paper argues that, using Kantian ethics, Putnam is responsible and should be held accountable for the aftermath of its mistakes.
Table of Contents
Introduction
Background
Case Analysis
The Stakeholder Theory
Utilitarian View
Friedman's Approach
Aristotle's View
Kantian Deontology
Our Personal Analysis
Recommendations
Conclusion
From the Paper "The stakeholder theory of the modern day corporation states that managers do not have a duty to stockholders only, but to stakeholders as well. Stakeholder is a more broad term that includes anyone who has stake in a particular firm. For instance, suppliers, customers, employees, stockholders, and the local community can all have stake in a corporation according to the stakeholder theory. By having this connection to the corporation, the stakeholders are entitled to a civil duty from the managers of the company. Their opinions on certain issues have to be taken into consideration when making business decisions because all stakeholders are directly affected by what goes on in a firm. Furthermore, an ethical analysis of a corporation can be performed by applying it to the stakeholder theory."
