貴金屬投資技術(shù)分析英文版(1)(參考版)
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【正文】 Sons Canada, Ltd. All rights reserved. Reproduction or translation of this work beyond that permitted by Access Copyright (the Canadian copyright licensing agency) is unlawful. Requests for further information should be addressed to the Permissions Department, John Wiley amp。s money is pooled with the contributions of other investors to purchase a portfolio of securities. The value of the units purchased is based on the value of the underlying securities and will change in response to market conditions. Mutual Funds E 35 Summary In this chapter you have developed: – An understanding of the managed financial product known as a mutual fund – An understanding of how mutual fund anizations are anized and the channels that are used to distribute their products and the parties involved in mutual fund anizations – An understanding of the advantages and disadvantages of mutual funds. Mutual Funds E 36 Copyright Copyright 169。Prepared by Ken Hartviksen INTRODUCTION TO CORPORATE FINANCE Laurence Booth ? W. Sean Cleary Mutual Funds Mutual Funds Mutual Funds E 3 Lecture Agenda ? Learning Objectives ? Important Terms ? Where can Mutual Funds be Purchased? ? Who can sell mutual funds? ? What is a Mutual Fund? ? Legal Structures of Mutual Funds ? The Mutual Fund Complex ? Management Fees ? Advantages and Disadvantages of Mutual Funds ? Segregated Funds ? Summary ? Conclusions Mutual Funds E 4 Learning Objectives 1. To describe mutual fund anizations 2. To identify the advantages and disadvantage of investing in mutual funds 3. To understand the costs associated with investing in mutual funds 4. To understand the differences between segregated funds and mutual funds. Mutual Funds E 5 Important Terms ? Closed end Fund ? Mutual Fund ? Management Expense Ratio (MER) ? Net Asset Value per Share (NAVPS) ? Openend Fund ? Segregated Fund Mutual Funds E 6 Where can Mutual Funds Be Purchased? ? Mutual funds are sold by most financial institutions: ? Credit unions (ethical funds) ? Banks ? Insurance Companies ? Investment Companies ? Brokerage Houses ? Trust Companies ? Independent Mutual Fund Dealers ? You can usually set up a regular savings plan through your own financial institution?saving as little as $ per month. ? You can invest in mutual funds outside or inside your RRSP. Mutual Funds E 7 Who Can Sell Mutual Funds? ? The anization that markets (sells) mutual funds must be licensed in the province where it offers these products. ? In addition, the person working for the licensed anization must also be licensed under either: – MFDA (Mutual Fund Dealers Association) – IDA (Investment Dealers Association) ? In order to qualify for licensing, the individual must plete an accredited course of studies, have pleted a supervised 90 day training program and have satisfied the accrediting body of their personal integrity through a thorough background check. For example: – the MFDA will expect you to have pleted the Canadia
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