資本市場和金融機構(2)-閱讀頁
2025-06-02 22:51本頁面
【正文】 ? A MF pools the resources of many small investors by selling them shares and using the proceeds to invest in securities (., stocks, bonds, options, futures, currencies, or money market securities. ) 7 Mutual Funds Fund Parent Co. Dec ’04 Assets ($billions) 1 IGM Financial (Investors, Mackenzie Financial) Power Corp of Canada 2 RBC Asset Management Inc Royal Bank 3 . Mutual Funds Inc. Independent 4 Aim Trimark Investments AMVESCAP PLC, . 5 CIBC Asset Management CIBC 6 TD Asset Management Group TD Canada Trust 7 Fidelity Investment Canada Ltd Fidelity Investments, . 8 AGF Management Limited Independent 9 Franklin Templeton Investments Franklin Templeton Inv. US 10 BMO Investments Inc. Bank of Montreal Total Assets Big Six Banks subsidiaries. MF of $ (1/3 of total in 2021) 8 Advantages of investing in MF ? Record keeping and administration ? Diversification and divisibility (see graph on the advantages of global diversification) ? Professional Management ? Lower Transaction Costs 9 Types of MFs 1. Equity Funds: Value Firms: High dividend yields 2. FixedIne (bond) Funds 3. Balanced Funds (money market, equity and bonds) 4. Growth Funds: Growth firms. 5. Specialized Funds: Specific economic sectors, and regions 6. Money Market Funds: Tbills, BAs, term deposits, provincial shortterm notes, mercial paper. 7. Index Funds. They try to replicate an index. Example: Samp。P/TSX 60 index fund. ? Index funds are passively managed funds, in contrast, types 16 are actively managed funds. 10 Types of Mutual Funds 410 11 Vanguard 500 Index Fund Investor Shares (VFINX) Average Annual Total Returns as of 03/31/2021 Ten Largest Holdings as of 04/30/2021 1. General Electric Co. 2. Microsoft Corp. 3. Exxon Mobil Corp. 4. Pfizer Inc. 5. Citigroup, Inc. 6. WalMart Stores, Inc. 7. American International Group, Inc. 8. Intel Corp. 9. Bank of America Corp. 10. Johnson amp。P 500 Index –% –% –% –% 13 International Diversification
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