Mutual Funds

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Mutual Funds

  1. 1. Mutual Funds <ul><li>Open-end Investment Company </li></ul>
  2. 2. Advantages <ul><li>Professional Management </li></ul><ul><li>Diversification </li></ul><ul><li>Liquidity </li></ul>
  3. 3. Investors ABC Funds Investors Redeemed Shares New Shares $ $
  4. 4. Fund Objectives <ul><li>Income </li></ul><ul><li>Growth </li></ul><ul><li>Capital Preservation </li></ul>
  5. 5. Structure <ul><li>Board of Directors </li></ul><ul><li>Investment Advisor </li></ul><ul><li>Custodian </li></ul><ul><li>Transfer Agent </li></ul><ul><li>Underwriter </li></ul><ul><li>Shareholders </li></ul>
  6. 6. Pricing <ul><li>NAV </li></ul><ul><li>No-Load </li></ul><ul><li>Load </li></ul>
  7. 7. Load Funds <ul><li>Class A </li></ul><ul><li>Class B </li></ul><ul><li>Class C </li></ul>
  8. 8. A Shares <ul><li>Breakpoints </li></ul><ul><li>Letter of Intent </li></ul><ul><li>Rights of Accumulation </li></ul>
  9. 9. Taxation <ul><li>Income Distributions </li></ul><ul><li>Capital Gain Distributions </li></ul><ul><li>Sale of Shares </li></ul>
  10. 10. Comparing Funds <ul><li>Objectives </li></ul><ul><li>Investment Policies </li></ul><ul><li>Purchase Requirements </li></ul><ul><li>Sales Charges </li></ul><ul><li>Shareholder Privileges </li></ul><ul><li>Quality of Management </li></ul>
  11. 11. Types of Funds <ul><li>Money Market </li></ul><ul><li>Income </li></ul><ul><li>Growth & Income </li></ul><ul><li>Balanced </li></ul><ul><li>Growth </li></ul><ul><ul><li>Conservative </li></ul></ul><ul><ul><li>Aggressive </li></ul></ul>
  12. 12. Types of Funds <ul><li>Index </li></ul><ul><li>Specialized </li></ul><ul><li>International </li></ul>
  13. 13. Shareholder Privileges <ul><li>Systematic W/D </li></ul><ul><li>Auto Reinvestment </li></ul><ul><li>Exchange Privileges </li></ul>
  14. 14. Quality of Management <ul><li>Experience </li></ul><ul><li>Past Performance </li></ul><ul><li>Yield & Total Return </li></ul><ul><li>Expense Ratio </li></ul><ul><li>Turnover </li></ul><ul><li>Asset Size </li></ul>
  15. 15. Performance Timeframes <ul><li>12 Months </li></ul><ul><li>5 Years </li></ul><ul><li>10 Years </li></ul><ul><li>From Date of Inception of Fund </li></ul>
  16. 16. Sources of Info <ul><li>Magazines </li></ul><ul><li>Advisory Services </li></ul><ul><ul><li>Morningstar </li></ul></ul>

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