1728:
Company S.A.) to spread their money in many different investment products such as shares, bonds, deposits, repo etc. Those companies in Greece may provide services according to article 4 of Law 3283/2004. People who own units (shares) of a mutual fund are called unitholders. In Greece co-unitholders, which are persons participating in the same units of M/F have exactly the same rights as the unitholder (according to the Law for the deposits in common account 5638/1932). The unitholders have to sign and accept the document which describes the purpose of the Mutual Fund, how it operates, and anything concerning the Fund. This document is the regulation of the M/F. The property of each M/F by law have to be under the control of a bank legally operating in Greece (Greek or foreign). The bank is the custodian of the M/F and except of the custody of the fund also controls the lawfulness of all movements of the management company. The
Supervisory and Regulatory Body of M.F. Management Companies and Portfolio Investment Companies is the
354:, where Part XVII, sections 235 to 284 deal with the requirements for a collective investment scheme to operate. It states in section 235 that a "collective investment scheme" means "any arrangements with respect to property of any description, including money, the purpose or effect of which is to enable persons taking part in the arrangements (whether by becoming owners of the property or any part of it or otherwise) to participate in or receive profits or income arising from the acquisition, holding, management or disposal of the property or sums paid out of such profits or income".
2276:
3132:
984:) this charge may be applied at the start of the plan or as an ongoing percentage of the fund value each year. While this cost will diminish your returns it could be argued that it reflects a separate payment for an advice service rather than a detrimental feature of collective investment vehicles. Indeed, it is often possible to purchase units or shares directly from the providers without bearing this cost.
3140:
2424:
1975:. (Yale School of Forestry and Environmental Studies, chapter 1, pp. 18–43). As Goetzmann & Rouwenhorst (2008) noted, "The 17th and 18th centuries in the Netherlands were a remarkable time for finance. Many of the financial products or instruments that we see today emerged during a relatively short period. In particular, merchants and bankers developed what we would today call
2290:
31:
731:. If markets are growing rapidly this can allow the vehicle to take advantage of the growth to a greater extent than if only the subscribed contributions were invested. However this premise only works if the cost of the borrowing is less than the increased growth achieved. If the borrowing costs are more than the growth achieved a net loss is achieved.
347:(typically known as UCITS for short) created an EU-wide structure, so that funds fulfilling its basic regulations could be marketed in any member state. The basic aim of collective investment scheme regulation is that the financial "products" that are sold to the public are sufficiently transparent, with full disclosure about the nature of the terms.
1732:. It comes under the jurisdiction of the Ministry of National Economy and controls the operation of all M/Fs available in Greece. All investors have to be very careful and about the risk they undertake. They have to have in mind that all investments have a certain degree of risk. Risk–free investments does not exist.
626:. Each time money is invested, new shares or units are created to match the prevailing share price; each time shares are redeemed, the assets sold match the prevailing share price. In this way there is no supply or demand created for shares and they remain a direct reflection of the underlying assets.
1398:
can be charged at the discretion of the fund manager, to offset the cost of market transactions resulting from large un-matched buy or sell orders. For example, if the volume of purchases outweigh the volume of sales in a particular trading period the fund manager will have to go to the market to buy
1403:
in the process and having an adverse effect on the fund as a whole ("diluting" the fund). The same is the case with large sell orders. A dilution levy is therefore applied where appropriate and paid for by the investor in order that large single transactions do not reduce the value of the fund as a
929:
If one investor had to buy a large number of direct investments, the amount this person would be able to invest in each holding is likely to be small. Dealing costs are normally based on the number and size of each transaction, therefore the overall dealing costs would take a large chunk out of the
708:
Unit investment trusts (UITs) are issued to the public only once when they are created. UITs generally have a limited life span, established at creation. Investors can redeem shares directly with the fund at any time (similar to an open-end fund) or wait to redeem them upon the trust's termination.
1727:
We could say that a mutual fund is a pool of money which belongs to many investors. Otherwise a M/F is the common cashier of many investors who trust a third party to operate and manage their wealth. Moreover, they order this third party which in Greece is called A.E.D.A.K. (Mutual Fund
Management
958:
managing the investment decisions on behalf of the investors will of course expect remuneration. This is often taken directly from the fund assets as a fixed percentage each year or sometimes a variable (performance based) fee. If the investor managed their own investments, this cost would be
938:
An investor that chooses to use an investment fund as a way to invest his or her money does not need to spend as much personal time making investment decisions, doing investment research, or performing actual trades. Instead, these actions and decisions will be done by one or more fund managers
1360:. The difference is typically 5% and may be varied by the vehicle's manager to reflect changes in the market; the amount of variation may be limited by the vehicles rules or regulatory rules. The difference between the buying and selling price includes initial charge for entering the fund.
1232:
is a measure of the association between a fund and its benchmark. Values are between 0 and 1. Perfect correlation is indicated by 1, and 0 indicates no correlation. This measure is useful in determining if the fund manager is adding value in their investment choices or acting as a
289:
technology). Depending on the country there is normally a bias towards the domestic market due to familiarity, and the lack of currency risk. Funds are often selected on the basis of these specified investment aims, their past investment performance, and other factors such as fees.
1305:
paid to intermediaries or salespeople. Typically this fee is a percentage of the investment. Some vehicles waive the initial charge and apply an exit charge instead. This may be gradually disappearing after a number of years. Closed-end funds traded on an exchange are subject to
912:
then there is a systematic risk that all the shares could be affected by adverse market changes. To avoid this systematic risk investment managers may diversify into different non-perfectly-correlated asset classes. For example, investors might hold their assets in equal parts in
1023:
investment. Income or value based investment tends to select stocks with strong income streams, often more established businesses. Growth investment selects stocks that tend to reinvest their income to generate growth. Each strategy has its critics and proponents; some prefer a
789:
Many collective investment vehicles split the fund into multiple classes of shares or units. The underlying assets of each class are effectively pooled for the purposes of investment management, but classes typically differ in the fees and expenses paid out of the fund's assets.
1379:
to protect the existing investors from the increased dealing costs. Adjusting the bid/offer prices closer to the cancellation/creation prices allows the manager to protect the interest of the existing investors in changing market conditions. Most unit trusts are dual priced.
1250:
is a measure of volatility of the fund's performance over a period of time. The higher the figure the greater the variability of the fund's performance. High historical volatility may indicate high future volatility, and therefore increased investment risk in a
1000:
If the investor holds shares directly, he has the right to attend the company's annual general meeting and vote on important matters. Investors in a collective investment vehicle often have none of the rights connected with individual investments within the fund.
217:
It remains unclear whether professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management. Terminology varies with country but investment funds are often referred to as
1386:
vehicles notionally have a single price for units/shares and this price is the same if buying or selling. As single prices vehicle cannot adjust the difference between the buying and selling price to adjust for market conditions, another mechanism, the
1888:
1126:. Therefore, they employ dynamic portfolio strategies, buying and selling investments with changing market conditions, based on their belief that particular individual holdings or sections of the market will perform better than others.
3119:
333:
1219:
represents an estimate of how much the fund will move if its benchmark moves by 1 unit. This shows the fund's sensitivity to changes in the market. Beta investment strategies tend to favour asset allocation models to achieve
194:
money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to:
1325:) to cover the cost of administering the vehicle and remunerating the investment manager. This may be a flat rate based on the value of the assets or a performance related fee based on a predefined target being achieved.
682:
Exchange-traded funds (ETFs) combine characteristics of both closed-end funds and open-end funds. They are structured as open-end investment companies or UITs. ETFs are traded throughout the day on a stock exchange. An
1014:
Each fund has a defined investment goal to describe the remit of the investment manager and to help investors decide if the fund is right for them. The investment aims will typically fall into the broad categories of
1277:
Many forms of investment may not be readily salable on the open market (e.g. commercial property) or the market has a small capacity and investments may take time to sell. Assets that are easily sold are termed
1237:
mirroring the market and making little difference. For example, an index fund will have an R-squared with its benchmark index very close to 1, indicating close to perfect correlation (the index fund's fees and
278:. The term also includes specialized vehicles such as collective and common trust funds, which are unique bank-managed funds structured primarily to commingle assets from qualifying pension plans or trusts.
1189:
When analysing investment performance, statistical measures are often used to compare 'funds'. These statistical measures are often reduced to a single figure representing an aspect of past performance:
1107:
The aim of most funds is to make money by investing in assets to obtain a real return (i.e. better than inflation). The philosophy used to manage the fund's investment vary and two opposing views exist.
604:(NAV) is the value of a vehicle's assets minus the value of its liabilities. The method for calculating this varies between vehicle types and jurisdiction and can be subject to complex regulation.
1155:, in which the manager minimizes costs by broadly following a passive indexing strategy, but has the discretion to actively deviate from the index in the hopes of earning modestly higher returns.
1140:, which attempt to replicate the performance of a market index by holding securities proportionally to their value in the market as a whole. Another example of passive management is the "
1719:
Both funds are run by
Investment Company (KUA - kompania z upravlinnya actyvami). Funds and companies regulated and supervised by DKTsPFR (Securities and stock market state commission)
1988:
Jong, Abe de & Kooijmans, Tim and
Koudijs, Peter, Intermediation in Mortgage-Backed Securities: The Plantation Business of F.W. Hudig, 1759-1797 (May 25, 2020). Available at SSRN:
1641:
1633:
1621:
712:
Unlike other types of mutual funds, unit investment trusts do not have a professional investment manager. Their portfolio of securities is established at the creation of the UIT.
527:. The nature of the vehicle and its limitations are often linked to its constitutional nature and the associated tax rules for the type of structure within a given jurisdiction.
1518:
are less common, with around $ 277 billion in assets under management as of 2019, including about $ 107 billion in equities and $ 170 billion in bonds; market leaders include
827:) may qualify to purchase "institutional" shares (and gain the benefit of their typically lower expense ratios) even though no members of the plan would qualify individually.
882:). If your money is invested in such a failed holding you could lose your capital. By investing in a range of equities (or other securities) the capital risk is reduced.
2163:
2866:
2759:
1091:
In most instances whatever the investment aim the fund manager will select an appropriate index or combination of indices to measure its performance against; e.g.
668:
In the United States, at the end of 2018, there were 506 closed-end mutual funds with combined assets of $ 0.25 trillion, accounting for 1% of the U.S. industry.
2826:
1801:. If the managed investment vehicle is open for retail investors, the managed investment vehicle must be registered with ASIC. An unregistered vehicle has a
1594:
1180:
index, nor his Virgin Index
Tracker fund over three years, nor achieve its stated aim to beat the index by 2% each year. He lost and paid ÂŁ6,000 to charity.
320:. Amsterdam-based businessman Abraham van Ketwich (also known as Adriaan van Ketwich) is often credited as the originator of the world's first mutual fund.
2010:
2328:
1371:. There is a differential between the cancellation and bid prices, and the creation and offer prices. The additional units are created are place in the
1270:
If the assets you invest in are held in another currency there is a risk that currency movements alone may affect the value. This is referred to as
772:—may be limited to family members or whoever set up the fund. They are not publicly traded and may be arranged for tax- or estate-planning purposes.
3135:
904:
Collective investments by their nature tend to invest in a range of individual securities. However, if the securities are all in a similar type of
992:
Although the investor can choose the type of fund to invest in, they have no control over the choice of individual holdings that make up the fund.
766:—are limited by laws, regulations, and/or rules to experienced and/or sophisticated investors and often have high minimum investment requirements.
351:
303:
1350:
vehicles have a buying (offer) price and selling (bid) price. The buying price is higher than the selling price, this difference is known as the
694:
At the end of 2018, there were 1,988 ETFs in the United States with combined assets of $ 3.3 trillion, accounting for 16% of the U.S. industry.
1907:
Closed-end funds are a special type of investment fund in the U.S. which is offered to the public, but not redeemable. Lemke, Lins and Smith,
299:
2060:
760:—are available to most investors within the jurisdiction they are offered. Some restrictions on age and size of investment may be imposed.
1263:
A common concern with any investment is that you may lose the money you invest—your capital. This risk is therefore often referred to as
1469:
are common. As of 2019, the top 5 asset managers accounted for 55% of the 19.3 trillion in mutual fund and ETF investments. However, for
2752:
259:
1979:. Mutual funds and various other forms of structured finance that still exist today emerged in the 17th and 18th centuries in Holland."
1955:
1132:—Passive managers stick to a portfolio strategy determined at outset of the fund and not varied thereafter, aiming to minimize the
622:
An open-end fund is equitably divided into shares which vary in price in direct proportion to the variation in value of the fund's
2077:
815:
Still a third class might have a high minimum investment limit and only be open to financial institutions; such a class is called
665:(NAV); it may be at a "premium" to NAV (i.e., higher than NAV) or, more commonly, at a "discount" to NAV (i.e., lower than NAV).
1765:
Société d'investissement à capital fixe|SICAF (Société d'investissement à capital fixe) (Investment company with fixed capital)
1729:
384:
60:
1301:
For an open-end fund, there may be an initial charge levied on the purchase of units or shares this covers dealing costs, and
3143:
2963:
2893:
2745:
2321:
1858:
1509:
1443:
1437:
738:
435:
111:
793:
These differences are supposed to reflect different costs involved in servicing investors in various classes; for example:
2851:
1863:
1552:
977:
734:
This can greatly increase the investment risk of the fund by increased volatility and exposure to increased capital risk.
450:
365:
126:
41:
3109:
2872:
2604:
2384:
1825:
1419:
1203:'s return is 0. This shows the fund's performance relative to the benchmark and can demonstrate the value added by the
3044:
1883:
1576:
1084:
are often divided into smaller funds e.g. US large caps, Japanese smaller companies, European Growth, UK mid caps etc.
2294:
2883:
1878:
1363:
The internal workings of a fund are more complicated than this description suggests. The manager sets a price for
781:
Some vehicles are designed to have a limited term with enforced redemption of shares or units on a specified date.
723:
Some collective investment vehicles have the power to borrow money to make further investments; a process known as
715:
In the United States, at the end of 2018, there were 4,917 UITs with combined assets of less than $ 0.1 trillion.
3167:
3162:
2831:
2800:
2650:
2314:
2110:
1777:
1671:
1501:
1473:, the top 5 account for 22% of the market, with the top 10 accounting for 30% and the top 25 accounting for 39%.
1425:
1400:
1307:
1302:
973:
875:
344:
340:
336:
281:
Investment funds are promoted with a wide range of investment aims either targeting specific geographic regions (
210:
3039:
2953:
2118:
329:
3114:
3099:
3073:
3068:
2918:
2846:
2788:
2711:
2701:
2550:
1611:
1564:
1485:
879:
643:
639:
878:. An investment in a single equity may do well, but it may collapse for investment or other reasons (e.g.,
3094:
3008:
2696:
2540:
2555:
2908:
2768:
2645:
2473:
1868:
1838:
1455:
1145:
954:
703:
1356:
312:
The first (recorded) professionally managed investment funds or collective investment schemes, such as
2211:
199:
hire professional investment managers, who may offer better returns and more adequate risk management;
2898:
2794:
2721:
2594:
2052:
1546:
1534:
1489:
1466:
1413:
677:
485:
255:
161:
823:
In some cases, by aggregating regular investments by many individuals, a retirement plan (such as a
2861:
2635:
2625:
2489:
2468:
2389:
1873:
1759:
1570:
1123:
1119:
586:
Please see below for general information on specific forms of vehicles in different jurisdictions.
549:
520:
275:
1780:
or LIC. Closed-ended collective investment either corporate or trust based. Available since 1928.
3063:
2973:
2938:
2630:
2463:
2448:
1806:
1493:
1478:
1246:
1129:
1115:
808:
Another class may be sold with no commission (load) direct to the public; such a class is called
655:
540:
394:
203:
70:
2453:
2280:
2259:
753:
Collective investment vehicles vary in availability depending on their intended investor base:
646:) or through private placement. If shares are issued through an IPO, they are then traded on a
2934:
2655:
2525:
2509:
2398:
2368:
2056:
1951:
1470:
1207:. The higher the 'alpha' the better the manager. Alpha investment strategies tend to favour
1152:
1111:
969:
798:
480:
475:
455:
267:
156:
151:
131:
2982:
2948:
2816:
2443:
1540:
1525:
Unit investment trusts are the least common, with about $ 6.5 billion in assets as of 2019.
964:
651:
460:
445:
328:
The term "collective investment scheme" is a legal concept deriving initially from a set of
136:
121:
2535:
3023:
3013:
3003:
2998:
2978:
2706:
2675:
2599:
2394:
2300:
2132:
2085:
1853:
1848:
1515:
1451:
1195:
1165:
688:
662:
635:
623:
601:
595:
490:
409:
263:
166:
85:
2187:
1750:(Société d'investissement à capital variable) (Investment company with variable capital)
1683:(Société d'investissement à capital variable) (Investment company with variable capital)
3057:
2968:
2958:
2726:
2716:
2530:
2504:
2089:
1976:
1677:
SICAF (Société d'investissement à capital fixe) (Investment company with fixed capital)
1284:
1239:
1215:
1173:
1077:
867:
742:
647:
465:
430:
317:
141:
106:
2275:
661:
The price that investors receive for their shares may be significantly different from
3156:
3053:
3018:
2903:
2878:
2841:
2806:
2587:
2478:
1819:
1497:
1447:
1133:
1065:
981:
909:
613:
582:
A "marketing" or "distribution" company to promote and sell shares/units of the fund.
414:
90:
2235:
1260:
Depending on the nature of the investment, the type of 'investment' risk will vary.
3104:
3049:
2856:
2680:
2640:
2545:
2402:
1948:
The
Origins of Value: The Financial Innovations that Created Modern Capital Markets
1589:
1204:
1200:
1169:
1141:
918:
871:
495:
404:
379:
171:
80:
55:
17:
1828:, a corporate entity for holding various investments under a single legal entity.
3078:
2836:
2582:
2458:
2423:
1889:
Undertakings for
Collective Investment in Transferable Securities Directive 2009
1843:
1599:
1462:
1375:
for future purchasers. When heavy selling occurs units are liquidated from the
905:
824:
617:
568:
who safeguard the assets and ensure compliance with laws, regulations and rules.
516:
500:
313:
307:
251:
176:
2943:
2913:
2821:
2811:
2620:
2438:
2409:
2358:
1786:
1558:
1328:
Different unit/share classes may have different combinations of fees/charges.
1137:
271:
191:
2363:
1474:
1228:
1176:(head of SG Asset Management) that her SG UK Growth fund would not beat the
684:
389:
334:
Undertakings for
Collective Investment in Transferable Securities Directives
65:
30:
2289:
2164:"Fears of a World Domination by a Handful of Asset Managers Are Overblown"
1993:
801:
with an initial commission (front-end load); such a class might be called
2005:
1416:(ETFs)—an open-end fund traded by listed shares on major stock exchanges.
1177:
1092:
1081:
914:
2737:
1555:(OEICs or ICVCs)—Introduced 1997. Open-ended with a corporate structure.
934:
Reduction or elimination of requirement to spend personal time investing
866:
One of the main advantages of collective investment is the reduction in
34:
The values and performance of collective funds are listed in newspapers.
1802:
524:
440:
116:
1783:
Managed
Investment Vehicle per s 9 of the Corporations Act (Cth) 2001.
1519:
1073:
553:
who manages the trading, reconciliations, valuation and unit pricing.
1989:
2306:
2888:
1747:
1680:
1658:
1653:
1505:
1311:
1069:
29:
1973:
Carbon
Finance, Environmental Market Solutions to Climate Change
1626:
1391:
exists. SICAVs, OEICs and U.S. mutual funds are single priced.
1087:
Themed funds—Technology, Healthcare, Socially responsible funds.
470:
240:
undertaking for collective investment in transferable securities
146:
2741:
2310:
1047:, etc. Also, perhaps most commonly funds are divided by their
737:
Gearing was a major contributory factor in the collapse of the
2029:
1922:
Hedge Funds and Other Private Funds: Regulation and Compliance
709:
Less commonly, they can sell their shares in the open market.
2236:"ICI - Release: Unit Investment Trust Deposits, January 2020"
1151:
Additionally, some funds use a hybrid management strategy of
887:
The more diversified your capital, the lower the capital risk
579:
who own (or have rights to) the assets and associated income.
2188:"ICI - Release: Closed-End Fund Assets, Fourth Quarter 2019"
1744:
Anlagefonds (unincorporated investment fund or common fund)
1567:—Introduced 1970s. Open-ended with a life policy structure.
285:
emerging markets or Europe) or specified industry sectors (
250:). An investment fund may be held by the public, such as a
2258:
See Irish Collective Asset-management Vehicles Act 2015
1715:
Public investment fund (Korporatyvny investytsiyny fund)
1543:—Introduced 1868. Closed-ended with corporate structure.
1709:
Instytut spilnogo investuvannya, ISI (Investment Funds)
1634:
Qualifying investor alternative investment fund (QIAIF)
1579:
funds - introduced in 2014. Closed-ended or open-ended.
1422:(REITs)—a close-ended fund that invests in real estate.
332:
to regulate mutual fund investment and management. The
2303:(consumer information) – U.S. SEC Investment Companies
1642:
Loan Originating Alternative Investment Fund (L-QIAIF)
1967:
Goetzmann, William N.; Rouwenhorst, K. Geert (2008).
1946:
Goetzmann, William N.; Rouwenhorst, K. Geert (2005).
687:
mechanism is used to keep the trading price close to
1712:
Private investment fund (Payovyi investytsiyny fond)
1561:—Introduced 1931. Open-ended with a trust structure.
1481:
are the top two when including passive investments.
1399:
more of the assets underlying the fund, incurring a
3087:
3032:
2991:
2927:
2775:
2689:
2668:
2613:
2575:
2568:
2518:
2497:
2487:
2431:
2377:
2351:
2344:
1638:
Retail Investor Alternative Investment Fund (RIAIF)
650:. or directly through the fund manager to create a
638:issues a limited number of shares (or units) in an
515:Collective investment vehicles may be formed under
350:In the United Kingdom, the primary statute is the
1674:) (unincorporated investment fund or common fund)
1408:Internationally recognised collective investments
972:is built into the vehicle. Often referred to as
1789:open-ended trust based investments often called
1696:BEVEK (Investment Company with variable capital)
27:Way of investing money alongside other investors
2867:Qualifying investor alternative investment fund
1484:The top 5 active management funds in 2018 were
1242:prevent the correlation from ever equalling 1).
797:One class may be sold through a stockbroker or
2753:
2322:
1693:BEVAK (Investment company with fixed capital)
1537:(ETFs)—Open-ended with a corporate structure.
1446:, which broadly describes three major types:
1185:Alpha, Beta, R-squared and standard deviation
8:
2827:Labour-sponsored venture capital corporation
2078:"The Lesson From The Split Capital Debacle"
2011:The Modern Corporation and Private Property
3139:
2760:
2746:
2738:
2572:
2494:
2348:
2329:
2315:
2307:
1911:, §4.04; §9.05 (Matthew Bender, 2018 ed.).
1758:Kommanditgesellschaft fĂĽr Kapitalanlagen (
1148:where the portfolio is fixed from outset.
1134:ongoing costs of maintaining the portfolio
361:
37:
2049:The Split Capital Investment Trust Crisis
1622:Irish Collective Asset-Management Vehicle
1573:—Open-ended with a life policy structure.
1114:—Active managers seek to outperform the
1900:
1606:Ireland specific collective investments
1159:An example of active management success
1099:to measure success or failure against.
422:
371:
364:
352:Financial Services and Markets Act 2000
304:Financial history of the Dutch Republic
98:
47:
40:
1994:http://dx.doi.org/10.2139/ssrn.3610648
1699:PRIVAK (Closed-end investment company)
1442:Investment funds are regulated by the
1282:therefore this type of risk is termed
1199:represents the fund's return when the
300:Economic history of the Dutch Republic
2158:
2156:
2154:
2152:
544:who manages the investment decisions.
7:
2024:
2022:
2020:
930:capital (affecting future profits).
1969:The History of Financial Innovation
260:special-purpose acquisition company
2030:"2019 Investment Company Factbook"
1909:Regulation of Investment Companies
1805:whilst a registered vehicle has a
1529:UK-specific collective investments
1144:" method used by many traditional
25:
2212:"Closed End Funds: Fund Families"
2111:"Split Capital Investment trusts"
1990:https://ssrn.com/abstract=3610648
1772:Australian collective investments
1031:Funds are often distinguished by
244:collective investment undertaking
213:to reduce some unsystematic risk.
3138:
3131:
3130:
2422:
2288:
2274:
2133:"SEC.gov | Investment Companies"
2047:Adams, Andrew A (October 2004).
1577:Non mainstream pooled investment
1028:approach using aspects of each.
1010:Investment aims and benchmarking
206:, i.e., lower transaction costs;
1814:Offshore collective investments
1730:Greek Capital Market Commission
1648:European collective investments
1584:Canadian collective investments
1553:Open-ended investment companies
1336:Open-ended vehicles are either
385:Development finance institution
61:Development finance institution
2964:Socially responsible investing
2894:Split capital investment trust
2076:Carlisle, James (2002-10-30).
1937:(Thomson West, 2017–2018 ed.).
1924:(Thomson West, 2017-2018 ed.).
1920:Lemke, Lins, Hoenig and Rube,
1859:Global assets under management
1488:(using American Funds brand),
1444:Investment Company Act of 1940
1438:List of asset management firms
1120:selectively holding securities
939:managing the investment fund.
739:split capital investment trust
436:Bull (stock market speculator)
266:, or it may be sold only in a
224:collective investment vehicles
112:Bull (stock market speculator)
1:
2852:Open-ended investment company
2727:Money-weighted rate of return
2279:The dictionary definition of
2260:(Original Act available here)
1864:Independent financial adviser
1624:(commonly referred to as an "
1504:; in 2008, the list included
1420:Real Estate Investment Trusts
770:Private-availability vehicles
764:Limited-availability vehicles
366:Financial market participants
228:collective investment schemes
42:Financial market participants
3110:Returns-based style analysis
2873:Real estate investment trust
2605:Real estate investment trust
2385:Real estate investment trust
2034:Investment Company Institute
1950:. (Oxford University Press,
1826:Segregated portfolio company
1292:Charging structures and fees
1103:Active or passive management
758:Public-availability vehicles
511:Constitution and terminology
3045:Efficient-market hypothesis
1884:Specialized investment fund
1795:managed investment vehicles
1317:The vehicle will charge an
3184:
2884:Short-term investment fund
2399:Mezzanine investment funds
1879:Separately managed account
1817:
1435:
1426:Sovereign investment funds
1310:, in the same manner as a
1211:methods to achieve growth.
1136:. Many passive funds are
968:given by a stockbroker or
830:Some of the fund classes:
701:
675:
611:
593:
316:, were established in the
308:Mutual fund § History
297:
238:. The regulatory term is
3128:
2832:Listed investment company
2801:Fonds commun de placement
2651:Sovereign investment fund
2420:
2115:Treasury Select Committee
1778:Listed investment company
1672:Fonds commun de placement
1502:Dimensional Fund Advisors
330:European Union Directives
3040:Arbitrage pricing theory
2119:British House of Commons
1935:ERISA for Money Managers
1565:Unitised Insurance Funds
1367:of units/shares and for
1319:annual management charge
897:is often referred to as
247:
3115:Traditional investments
3100:Commodity pool operator
3074:Noisy market hypothesis
3069:Modern portfolio theory
2919:Unitised insurance fund
2847:Open-ended fund company
2789:Common contractual fund
2712:Assets under management
2702:Traditional investments
2697:Alternative investments
1688:Netherlands and Belgium
1612:Common contractual fund
1486:Capital Group Companies
749:Availability and access
640:initial public offering
3095:Alternative investment
3009:Institutional investor
2526:Long/short equity fund
2168:Institutional Investor
1799:unlisted managed funds
1595:Labour Sponsored Funds
1461:Open-end funds called
1456:unit investment trusts
1146:unit investment trusts
1033:asset-based categories
996:Loss of owner's rights
995:
698:Unit investment trusts
35:
2909:Unit investment trust
2769:Investment management
2669:By measure of returns
2646:Sovereign wealth fund
2474:Asset allocation fund
2053:John Wiley & Sons
1869:Investment management
1839:Collective trust fund
1665:France and Luxembourg
1547:Tax transparent funds
1535:Exchange-traded funds
1414:Exchange-traded funds
1308:brokerage commissions
925:Reduced dealing costs
704:Unit investment trust
691:of the ETF holdings.
672:Exchange-traded funds
298:Further information:
33:
2899:Tax transparent fund
2795:Exchange-traded fund
2722:Time-weighted return
2595:Exchange-traded fund
2551:Managed futures fund
2395:Venture capital fund
2297:at Wikimedia Commons
1490:Fidelity Investments
1432:United States market
1064:The largest markets—
895:investment principle
719:Gearing and leverage
678:Exchange-traded fund
530:Typically there is:
486:Financial regulation
256:exchange-traded fund
162:Financial regulation
2954:Manager of managers
2862:Private-equity fund
2626:Private equity fund
2556:Multi-strategy fund
2531:Market neutral fund
2490:investment strategy
2390:Private equity fund
1874:Offshore investment
1760:Limited Partnership
1571:With-profits policy
1124:investment strategy
1095:. This becomes the
785:Unit or share class
390:Insurance companies
276:private equity fund
209:increase the asset
66:Insurance companies
3064:Martingale pricing
2974:Thematic investing
2939:passive management
2631:Pooled income fund
1807:Responsible Entity
1510:Franklin Templeton
1247:Standard deviation
1130:Passive management
1049:geographic markets
962:Often the cost of
862:Diversity and risk
550:fund administrator
541:investment manager
204:economies of scale
36:
18:Investment vehicle
3150:
3149:
2928:Investment styles
2735:
2734:
2664:
2663:
2656:Urban wealth fund
2591:
2564:
2563:
2546:Global macro fund
2541:Event-driven fund
2510:Stable value fund
2418:
2417:
2406:
2369:Money market fund
2293:Media related to
2062:978-0-470-86858-4
1549:—Introduced 2013.
1541:Investment Trusts
1471:active management
1153:enhanced indexing
1112:Active management
970:financial adviser
799:financial adviser
508:
507:
481:Financial planner
476:Financial analyst
471:Banks and banking
456:Corporate finance
268:private placement
184:
183:
157:Financial planner
152:Financial analyst
147:Banks and banking
132:Corporate finance
16:(Redirected from
3175:
3168:Dutch inventions
3163:Investment funds
3142:
3141:
3134:
3133:
2983:growth investing
2949:Impact investing
2817:Investment trust
2762:
2755:
2748:
2739:
2585:
2573:
2495:
2444:Target date fund
2426:
2392:
2349:
2338:Investment funds
2331:
2324:
2317:
2308:
2295:Investment funds
2292:
2278:
2262:
2256:
2250:
2249:
2247:
2246:
2232:
2226:
2225:
2223:
2222:
2208:
2202:
2201:
2199:
2198:
2184:
2178:
2177:
2175:
2174:
2160:
2147:
2146:
2144:
2143:
2129:
2123:
2122:
2107:
2101:
2100:
2098:
2097:
2088:. Archived from
2073:
2067:
2066:
2044:
2038:
2037:
2026:
2015:
2002:
1996:
1986:
1980:
1965:
1959:
1944:
1938:
1933:Lemke and Lins,
1931:
1925:
1918:
1912:
1905:
1516:Closed-end funds
1452:closed-end funds
1357:bid–offer spread
1122:according to an
777:Limited duration
652:secondary market
461:Personal finance
446:Financial market
400:Investment funds
395:Investment banks
362:
339:, as amended by
220:investment pools
137:Personal finance
122:Financial market
76:Investment funds
71:Investment banks
38:
21:
3183:
3182:
3178:
3177:
3176:
3174:
3173:
3172:
3153:
3152:
3151:
3146:
3124:
3083:
3028:
3024:Performance fee
3014:Net asset value
3004:Fund governance
2999:Closed-end fund
2987:
2923:
2780:
2778:
2771:
2766:
2736:
2731:
2707:Net asset value
2685:
2676:Absolute return
2660:
2609:
2600:Closed-end fund
2560:
2514:
2483:
2427:
2414:
2373:
2340:
2335:
2271:
2266:
2265:
2257:
2253:
2244:
2242:
2234:
2233:
2229:
2220:
2218:
2210:
2209:
2205:
2196:
2194:
2186:
2185:
2181:
2172:
2170:
2162:
2161:
2150:
2141:
2139:
2131:
2130:
2126:
2109:
2108:
2104:
2095:
2093:
2086:The Motley Fool
2075:
2074:
2070:
2063:
2046:
2045:
2041:
2028:
2027:
2018:
2014:(1932) Book III
2003:
1999:
1987:
1983:
1966:
1962:
1945:
1941:
1932:
1928:
1919:
1915:
1906:
1902:
1897:
1854:Fund governance
1849:Fund derivative
1835:
1822:
1816:
1774:
1738:
1725:
1706:
1690:
1667:
1650:
1608:
1586:
1531:
1522:and BlackRock.
1440:
1434:
1410:
1334:
1299:
1294:
1258:
1209:stock selection
1187:
1172:) publicly bet
1166:Richard Branson
1118:as a whole, by
1105:
1012:
1007:
998:
990:
950:
945:
936:
927:
876:diversification
868:investment risk
864:
859:
787:
779:
751:
741:debacle in the
721:
706:
700:
689:net asset value
680:
674:
663:net asset value
636:closed-end fund
632:
630:Closed-end fund
624:net asset value
620:
612:Main articles:
610:
602:net asset value
598:
596:Net asset value
592:
590:Net asset value
513:
491:Fund governance
360:
326:
310:
296:
264:closed-end fund
211:diversification
188:investment fund
167:Fund governance
28:
23:
22:
15:
12:
11:
5:
3181:
3179:
3171:
3170:
3165:
3155:
3154:
3148:
3147:
3129:
3126:
3125:
3123:
3122:
3117:
3112:
3107:
3102:
3097:
3091:
3089:
3088:Related topics
3085:
3084:
3082:
3081:
3076:
3071:
3066:
3061:
3047:
3042:
3036:
3034:
3030:
3029:
3027:
3026:
3021:
3016:
3011:
3006:
3001:
2995:
2993:
2989:
2988:
2986:
2985:
2976:
2971:
2969:Social trading
2966:
2961:
2959:Social finance
2956:
2951:
2946:
2941:
2931:
2929:
2925:
2924:
2922:
2921:
2916:
2911:
2906:
2901:
2896:
2891:
2886:
2881:
2876:
2870:
2864:
2859:
2854:
2849:
2844:
2839:
2834:
2829:
2824:
2819:
2814:
2809:
2804:
2798:
2792:
2785:
2783:
2773:
2772:
2767:
2765:
2764:
2757:
2750:
2742:
2733:
2732:
2730:
2729:
2724:
2719:
2717:Rate of return
2714:
2709:
2704:
2699:
2693:
2691:
2690:Related topics
2687:
2686:
2684:
2683:
2678:
2672:
2670:
2666:
2665:
2662:
2661:
2659:
2658:
2653:
2648:
2643:
2638:
2636:Endowment fund
2633:
2628:
2623:
2617:
2615:
2611:
2610:
2608:
2607:
2602:
2597:
2592:
2579:
2577:
2570:
2566:
2565:
2562:
2561:
2559:
2558:
2553:
2548:
2543:
2538:
2533:
2528:
2522:
2520:
2516:
2515:
2513:
2512:
2507:
2505:Long-only fund
2501:
2499:
2492:
2485:
2484:
2482:
2481:
2476:
2471:
2466:
2461:
2456:
2451:
2446:
2441:
2435:
2433:
2429:
2428:
2421:
2419:
2416:
2415:
2413:
2412:
2407:
2387:
2381:
2379:
2375:
2374:
2372:
2371:
2366:
2361:
2355:
2353:
2346:
2345:By asset class
2342:
2341:
2336:
2334:
2333:
2326:
2319:
2311:
2305:
2304:
2298:
2286:
2270:
2269:External links
2267:
2264:
2263:
2251:
2227:
2203:
2179:
2148:
2124:
2102:
2082:Market Comment
2068:
2061:
2039:
2016:
2008:and GC Means,
1997:
1981:
1977:securitization
1960:
1956:978-0195175714
1939:
1926:
1913:
1899:
1898:
1896:
1893:
1892:
1891:
1886:
1881:
1876:
1871:
1866:
1861:
1856:
1851:
1846:
1841:
1834:
1831:
1830:
1829:
1818:Main article:
1815:
1812:
1811:
1810:
1784:
1781:
1773:
1770:
1769:
1768:
1767:
1766:
1763:
1753:
1752:
1751:
1745:
1737:
1734:
1724:
1721:
1717:
1716:
1713:
1710:
1705:
1702:
1701:
1700:
1697:
1694:
1689:
1686:
1685:
1684:
1678:
1675:
1666:
1663:
1662:
1661:
1656:
1649:
1646:
1645:
1644:
1639:
1636:
1631:
1619:
1607:
1604:
1603:
1602:
1597:
1592:
1585:
1582:
1581:
1580:
1574:
1568:
1562:
1556:
1550:
1544:
1538:
1530:
1527:
1448:open-end funds
1436:Main article:
1433:
1430:
1429:
1428:
1423:
1417:
1409:
1406:
1333:
1332:Pricing models
1330:
1298:
1295:
1293:
1290:
1285:liquidity risk
1257:
1254:
1253:
1252:
1243:
1240:tracking error
1235:closet tracker
1225:
1222:outperformance
1212:
1186:
1183:
1182:
1181:
1174:Nicola Horlick
1104:
1101:
1089:
1088:
1085:
1019:investment or
1017:Income (value)
1011:
1008:
1006:
1003:
997:
994:
989:
988:Lack of choice
986:
949:
946:
944:
941:
935:
932:
926:
923:
899:spreading risk
891:
890:
863:
860:
858:
855:
854:
853:
850:
847:
844:
841:
838:
835:
821:
820:
813:
806:
786:
783:
778:
775:
774:
773:
767:
761:
750:
747:
720:
717:
702:Main article:
699:
696:
676:Main article:
673:
670:
648:stock exchange
631:
628:
609:
606:
594:Main article:
591:
588:
584:
583:
580:
569:
554:
545:
512:
509:
506:
505:
504:
503:
498:
493:
488:
483:
478:
473:
468:
466:Public finance
463:
458:
453:
448:
443:
438:
433:
431:Angel investor
425:
424:
420:
419:
418:
417:
412:
407:
402:
397:
392:
387:
382:
374:
373:
369:
368:
359:
356:
325:
322:
318:Dutch Republic
295:
292:
215:
214:
207:
200:
182:
181:
180:
179:
174:
169:
164:
159:
154:
149:
144:
142:Public finance
139:
134:
129:
124:
119:
114:
109:
107:Angel investor
101:
100:
96:
95:
94:
93:
88:
83:
78:
73:
68:
63:
58:
50:
49:
45:
44:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
3180:
3169:
3166:
3164:
3161:
3160:
3158:
3145:
3137:
3127:
3121:
3118:
3116:
3113:
3111:
3108:
3106:
3103:
3101:
3098:
3096:
3093:
3092:
3090:
3086:
3080:
3077:
3075:
3072:
3070:
3067:
3065:
3062:
3059:
3055:
3051:
3048:
3046:
3043:
3041:
3038:
3037:
3035:
3031:
3025:
3022:
3020:
3019:Open-end fund
3017:
3015:
3012:
3010:
3007:
3005:
3002:
3000:
2997:
2996:
2994:
2990:
2984:
2980:
2977:
2975:
2972:
2970:
2967:
2965:
2962:
2960:
2957:
2955:
2952:
2950:
2947:
2945:
2942:
2940:
2936:
2933:
2932:
2930:
2926:
2920:
2917:
2915:
2912:
2910:
2907:
2905:
2904:Umbrella fund
2902:
2900:
2897:
2895:
2892:
2890:
2887:
2885:
2882:
2880:
2879:Royalty trust
2877:
2874:
2871:
2868:
2865:
2863:
2860:
2858:
2855:
2853:
2850:
2848:
2845:
2843:
2842:Offshore fund
2840:
2838:
2835:
2833:
2830:
2828:
2825:
2823:
2820:
2818:
2815:
2813:
2810:
2808:
2807:Fund of funds
2805:
2802:
2799:
2796:
2793:
2790:
2787:
2786:
2784:
2782:
2774:
2770:
2763:
2758:
2756:
2751:
2749:
2744:
2743:
2740:
2728:
2725:
2723:
2720:
2718:
2715:
2713:
2710:
2708:
2705:
2703:
2700:
2698:
2695:
2694:
2692:
2688:
2682:
2679:
2677:
2674:
2673:
2671:
2667:
2657:
2654:
2652:
2649:
2647:
2644:
2642:
2639:
2637:
2634:
2632:
2629:
2627:
2624:
2622:
2619:
2618:
2616:
2614:Institutional
2612:
2606:
2603:
2601:
2598:
2596:
2593:
2589:
2588:Open-end fund
2584:
2581:
2580:
2578:
2574:
2571:
2569:By structures
2567:
2557:
2554:
2552:
2549:
2547:
2544:
2542:
2539:
2537:
2534:
2532:
2529:
2527:
2524:
2523:
2521:
2517:
2511:
2508:
2506:
2503:
2502:
2500:
2496:
2493:
2491:
2486:
2480:
2479:Fund of funds
2477:
2475:
2472:
2470:
2469:Balanced fund
2467:
2465:
2462:
2460:
2457:
2455:
2452:
2450:
2447:
2445:
2442:
2440:
2437:
2436:
2434:
2430:
2425:
2411:
2408:
2404:
2400:
2396:
2391:
2388:
2386:
2383:
2382:
2380:
2376:
2370:
2367:
2365:
2362:
2360:
2357:
2356:
2354:
2350:
2347:
2343:
2339:
2332:
2327:
2325:
2320:
2318:
2313:
2312:
2309:
2302:
2299:
2296:
2291:
2287:
2285:at Wiktionary
2284:
2283:
2277:
2273:
2272:
2268:
2261:
2255:
2252:
2241:
2237:
2231:
2228:
2217:
2213:
2207:
2204:
2193:
2189:
2183:
2180:
2169:
2165:
2159:
2157:
2155:
2153:
2149:
2138:
2134:
2128:
2125:
2121:. 2003-02-05.
2120:
2116:
2112:
2106:
2103:
2092:on 2012-03-12
2091:
2087:
2083:
2079:
2072:
2069:
2064:
2058:
2054:
2050:
2043:
2040:
2035:
2031:
2025:
2023:
2021:
2017:
2013:
2012:
2007:
2001:
1998:
1995:
1991:
1985:
1982:
1978:
1974:
1970:
1964:
1961:
1957:
1953:
1949:
1943:
1940:
1936:
1930:
1927:
1923:
1917:
1914:
1910:
1904:
1901:
1894:
1890:
1887:
1885:
1882:
1880:
1877:
1875:
1872:
1870:
1867:
1865:
1862:
1860:
1857:
1855:
1852:
1850:
1847:
1845:
1842:
1840:
1837:
1836:
1832:
1827:
1824:
1823:
1821:
1820:Offshore fund
1813:
1808:
1804:
1800:
1796:
1792:
1791:Managed funds
1788:
1785:
1782:
1779:
1776:
1775:
1771:
1764:
1761:
1757:
1756:
1755:closed-ended
1754:
1749:
1746:
1743:
1742:
1740:
1739:
1735:
1733:
1731:
1722:
1720:
1714:
1711:
1708:
1707:
1703:
1698:
1695:
1692:
1691:
1687:
1682:
1679:
1676:
1673:
1669:
1668:
1664:
1660:
1657:
1655:
1652:
1651:
1647:
1643:
1640:
1637:
1635:
1632:
1629:
1628:
1623:
1620:
1617:
1613:
1610:
1609:
1605:
1601:
1598:
1596:
1593:
1591:
1590:Income Trusts
1588:
1587:
1583:
1578:
1575:
1572:
1569:
1566:
1563:
1560:
1557:
1554:
1551:
1548:
1545:
1542:
1539:
1536:
1533:
1532:
1528:
1526:
1523:
1521:
1517:
1513:
1511:
1507:
1503:
1499:
1498:T. Rowe Price
1495:
1491:
1487:
1482:
1480:
1476:
1472:
1468:
1464:
1459:
1457:
1453:
1449:
1445:
1439:
1431:
1427:
1424:
1421:
1418:
1415:
1412:
1411:
1407:
1405:
1402:
1401:brokerage fee
1397:
1396:dilution levy
1392:
1390:
1389:dilution levy
1385:
1384:Single priced
1381:
1378:
1374:
1370:
1366:
1361:
1359:
1358:
1353:
1349:
1345:
1343:
1342:single priced
1339:
1331:
1329:
1326:
1324:
1320:
1315:
1313:
1309:
1304:
1296:
1291:
1289:
1287:
1286:
1281:
1275:
1273:
1272:currency risk
1268:
1266:
1261:
1256:Types of risk
1255:
1249:
1248:
1244:
1241:
1236:
1231:
1230:
1226:
1223:
1218:
1217:
1213:
1210:
1206:
1202:
1198:
1197:
1193:
1192:
1191:
1184:
1179:
1175:
1171:
1167:
1163:
1162:
1161:
1160:
1156:
1154:
1149:
1147:
1143:
1139:
1135:
1131:
1127:
1125:
1121:
1117:
1113:
1109:
1102:
1100:
1098:
1094:
1086:
1083:
1079:
1075:
1071:
1067:
1063:
1062:
1061:
1060:
1056:
1054:
1050:
1046:
1042:
1038:
1034:
1029:
1027:
1022:
1018:
1009:
1004:
1002:
993:
987:
985:
983:
979:
975:
971:
967:
966:
960:
957:
956:
947:
943:Disadvantages
942:
940:
933:
931:
924:
922:
920:
916:
911:
910:market sector
907:
902:
900:
896:
888:
885:
884:
883:
881:
877:
873:
869:
861:
856:
851:
848:
845:
842:
839:
836:
833:
832:
831:
828:
826:
818:
817:institutional
814:
811:
807:
804:
800:
796:
795:
794:
791:
784:
782:
776:
771:
768:
765:
762:
759:
756:
755:
754:
748:
746:
744:
740:
735:
732:
730:
726:
718:
716:
713:
710:
705:
697:
695:
692:
690:
686:
679:
671:
669:
666:
664:
659:
657:
656:market forces
653:
649:
645:
641:
637:
629:
627:
625:
619:
615:
614:Open-end fund
608:Open-end fund
607:
605:
603:
597:
589:
587:
581:
578:
574:
570:
567:
563:
559:
555:
552:
551:
546:
543:
542:
537:
533:
532:
531:
528:
526:
522:
518:
510:
502:
499:
497:
494:
492:
489:
487:
484:
482:
479:
477:
474:
472:
469:
467:
464:
462:
459:
457:
454:
452:
449:
447:
444:
442:
439:
437:
434:
432:
429:
428:
427:
426:
421:
416:
413:
411:
410:Prime brokers
408:
406:
405:Pension funds
403:
401:
398:
396:
393:
391:
388:
386:
383:
381:
380:Credit unions
378:
377:
376:
375:
372:Organisations
370:
367:
363:
357:
355:
353:
348:
346:
342:
338:
335:
331:
323:
321:
319:
315:
309:
305:
301:
293:
291:
288:
284:
279:
277:
273:
269:
265:
261:
257:
253:
249:
245:
241:
237:
233:
232:managed funds
229:
225:
221:
212:
208:
205:
202:benefit from
201:
198:
197:
196:
193:
189:
178:
175:
173:
170:
168:
165:
163:
160:
158:
155:
153:
150:
148:
145:
143:
140:
138:
135:
133:
130:
128:
125:
123:
120:
118:
115:
113:
110:
108:
105:
104:
103:
102:
97:
92:
89:
87:
86:Prime brokers
84:
82:
81:Pension funds
79:
77:
74:
72:
69:
67:
64:
62:
59:
57:
56:Credit unions
54:
53:
52:
51:
48:Organisations
46:
43:
39:
32:
19:
3105:Robo-advisor
3050:Fixed income
2981: /
2937: /
2857:Pension fund
2776:
2681:Total return
2641:Pension fund
2403:Vulture fund
2337:
2281:
2254:
2243:. Retrieved
2239:
2230:
2219:. Retrieved
2215:
2206:
2195:. Retrieved
2191:
2182:
2171:. Retrieved
2167:
2140:. Retrieved
2136:
2127:
2114:
2105:
2094:. Retrieved
2090:the original
2081:
2071:
2048:
2042:
2033:
2009:
2000:
1984:
1972:
1968:
1963:
1947:
1942:
1934:
1929:
1921:
1916:
1908:
1903:
1798:
1794:
1790:
1726:
1718:
1625:
1615:
1600:Mutual funds
1524:
1514:
1483:
1463:mutual funds
1460:
1441:
1395:
1393:
1388:
1383:
1382:
1377:managers box
1376:
1373:managers box
1372:
1369:cancellation
1368:
1364:
1362:
1355:
1351:
1347:
1346:
1341:
1337:
1335:
1327:
1322:
1318:
1316:
1300:
1283:
1279:
1276:
1271:
1269:
1265:capital risk
1264:
1262:
1259:
1245:
1234:
1227:
1221:
1214:
1208:
1205:fund manager
1194:
1188:
1158:
1157:
1150:
1142:buy and hold
1128:
1110:
1106:
1096:
1090:
1058:
1057:
1052:
1048:
1044:
1040:
1036:
1032:
1030:
1025:
1020:
1016:
1013:
999:
991:
963:
961:
955:fund manager
953:
951:
937:
928:
921:securities.
919:fixed income
903:
898:
894:
892:
886:
872:capital risk
865:
829:
822:
816:
809:
802:
792:
788:
780:
769:
763:
757:
752:
736:
733:
728:
724:
722:
714:
711:
707:
693:
681:
667:
660:
633:
621:
599:
585:
576:
573:shareholders
572:
565:
561:
557:
548:
539:
536:fund manager
535:
529:
514:
496:Stock Market
451:Participants
399:
349:
327:
314:mutual funds
311:
286:
282:
280:
270:, such as a
243:
239:
235:
234:, or simply
231:
227:
223:
219:
216:
190:is a way of
187:
185:
172:Stock Market
127:Participants
75:
3079:Yield curve
2992:Terminology
2944:Hedge Funds
2837:Mutual fund
2777:Investment
2583:Mutual fund
2536:130–30 fund
2519:Alternative
2498:Traditional
2464:Sector fund
2459:Income fund
2449:Growth fund
2378:Alternative
2352:Traditional
2240:www.ici.org
2216:ycharts.com
2192:www.ici.org
2137:www.sec.gov
1844:Common fund
1787:Unit trusts
1741:open-ended
1736:Switzerland
1559:Unit Trusts
1348:Dual priced
1338:dual priced
1303:commissions
1138:index funds
906:asset class
825:401(k) plan
654:subject to
618:Mutual fund
577:unitholders
519:, by legal
517:company law
501:Super angel
345:2001/108/EC
341:2001/107/EC
252:mutual fund
242:, or short
177:Super angel
3157:Categories
2914:Unit trust
2822:Hedge fund
2812:Index fund
2781:structures
2621:Hedge fund
2454:Value fund
2439:Index fund
2410:Hedge fund
2359:Stock fund
2245:2020-02-28
2221:2020-02-28
2197:2020-02-28
2173:2020-01-06
2142:2020-02-28
2096:2007-11-22
1895:References
974:commission
857:Advantages
337:85/611/EEC
272:hedge fund
3058:Convexity
2364:Bond fund
1475:BlackRock
1297:Fee types
1229:R-squared
1201:benchmark
1168:(head of
1097:benchmark
959:avoided.
745:in 2002.
685:arbitrage
562:directors
358:Structure
192:investing
3136:Category
3054:Duration
2432:By style
2006:AA Berle
1833:See also
1494:Vanguard
1479:Vanguard
1365:creation
1178:FTSE 100
1164:In 1998
1093:FTSE 100
1082:Far East
1059:Examples
1045:property
1035:such as
980:(in the
915:equities
729:leverage
566:trustees
2869:(QIAIF)
2301:Answers
2036:. 2019.
1803:Trustee
1704:Ukraine
1404:whole.
1314:trade.
880:Marconi
852:Class Z
849:Class W
846:Class E
843:Class D
840:Class C
837:Class B
834:Class A
819:shares.
812:shares.
805:shares.
725:gearing
525:statute
441:Finance
294:History
117:Finance
3033:Theory
2935:Active
2875:(REIT)
2576:Public
2282:pooled
2059:
1954:
1723:Greece
1654:SICAVs
1520:Nuveen
1500:, and
1454:, and
1352:spread
1280:liquid
1170:Virgin
1116:market
1074:Europe
1053:themes
1037:equity
1021:Growth
965:advice
874:) by
810:direct
803:retail
523:or by
415:Trusts
306:, and
91:Trusts
3120:UCITS
2979:Value
2889:SICAV
2803:(FCP)
2797:(ETF)
2791:(CCF)
1971:, in
1797:. or
1748:SICAV
1681:SICAV
1670:FCP (
1659:UCITS
1506:PIMCO
1312:stock
1251:fund.
1196:Alpha
1070:Japan
1041:bonds
1026:blend
1005:Style
948:Costs
893:This
558:board
521:trust
423:Terms
287:e.g.,
283:e.g.,
246:(cf.
236:funds
99:Terms
3144:List
2779:fund
2057:ISBN
2004:See
1952:ISBN
1627:ICAV
1508:and
1477:and
1467:ETFs
1465:and
1216:Beta
1080:and
1066:U.S.
982:U.S.
978:load
952:The
917:and
642:(or
616:and
600:The
571:The
343:and
2488:By
1992:or
1616:CCF
1354:or
1340:or
1323:AMC
1051:or
976:or
908:or
727:or
644:IPO
575:or
564:or
560:of
538:or
324:Law
274:or
262:or
248:Law
186:An
3159::
3056:,
2401:,
2397:,
2238:.
2214:.
2190:.
2166:.
2151:^
2135:.
2117:.
2113:.
2084:.
2080:.
2055:.
2051:.
2032:.
2019:^
1958:))
1793:,
1630:")
1618:")
1614:("
1512:.
1496:,
1492:,
1458:.
1450:,
1394:A
1344:.
1288:.
1274:.
1267:.
1078:UK
1076:,
1072:,
1068:,
1055:.
1043:,
1039:,
901:.
743:UK
658:.
634:A
556:A
547:A
534:A
302:,
258:,
254:,
230:,
226:,
222:,
3060:)
3052:(
2761:e
2754:t
2747:v
2590:)
2586:(
2405:)
2393:(
2330:e
2323:t
2316:v
2248:.
2224:.
2200:.
2176:.
2145:.
2099:.
2065:.
1809:.
1762:)
1321:(
1224:.
889:.
870:(
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
