Mutual Fund Industry Handbook: A Comprehensive Guide for Investment Professionals

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John Wiley & Sons, Jun 22, 2012 - Business & Economics - 400 pages
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"The Mutual Fund Industry Handbook is a remarkably important work . . . I am profoundly impressed by the broad and comprehensive sweep of information and knowledge that this book makes available to industry participants, college and business school students, and anyone else with a serious interest in this industry."
-- From the Foreword by John C. Bogle President, Bogle Financial Markets Research Center Founder and former chief executive, The Vanguard Group

A Foreword by John C. Bogle, founder of The Vanguard Group and one of the most respected leaders in the mutual fund industry, sets the stage for this authoritative book that explains the complexities of the phenomenal industry in simple terms.

Investors like the fact that mutual funds offer professional management, easy diversification, liquidity, convenience, a wide range of investment choices, and regulatory protection. Mutual Fund Industry Handbook touches on all of those features and focuses on the diverse functions performed in the day-to-day operations of the mutual fund industry. You'll learn about:

  • Front-office functions-analysis, buying, and selling.
  • Back-office functions, including settlement, custody, accounting, and reporting.
  • Commission structures-front-end loads, back-end loads, or level loads.
  • The various fund categories used by the Investment Company Institute, Morningstar, and Lipper.
  • The roles played by fund managers, investment advisors, custodial banks, distributors, transfer agents, and other third-party service providers.

If you want a definitive reference on the mutual fund industry, this is the book for you.

 

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Contents

Other Fund Administration Functions
chapter 8
The Evolution of Mutual Fund Distribution
Underwriters Distributors Wholesalers
Load Fund Distribution Via Brokers
Load Schemes and Broker Compensation
NSCCs FundSERV
Issues in Broker Distribution

chapter 2
The Roaring Twenties and the Crash
Depression and Regulation
1940 to 1980
Explosive Growth in the 80s and 90s
The Early TwentyFirst Century
chapter 3
The Funds
Fund Directors
The Management Companies
ThirdParty Service Providers
Brokers and Other Intermediaries
The Industry Associations
The Regulators
chapter 4
Defining the Fund
The Prospectus
Categories of Funds
Approaches to Investment Decision Making
Implications for Operations
chapter 5
Investment Analysis and Portfolio Management
Trade Order Management
The Cost of the Front Office
Life in an Investment Management Front Office
chapter 6
BackOffice Players
After the Trade Is MadeThe Settlement Process
Portfolio Compliance and Risk Monitoring
The Cost of the Back Office
The Back Office at David L Babson
chapter 7
A Day in the Life of a Fund Accountant
Fund Audit
Fund Legal Support
chapter 9
Distribution at American Century Investments
The Bank Channel
Insurance Sales of Mutual Funds
The Distribution Big Picture
chapter 10
Pension Investments in Mutual Funds
The Role and Impact of Sales and Marketing Activities
chapter 11
What Transfer Agent Service Costs
What Transfer Agents Do
The Daily Processing Cycle
Transfer Agent BackOffice Technology
chapter 12
How Mutual Fund Investors Receive Service
The Mutual Fund Customer Contact Center
Staffing the Contact Center
Customer Contact Center Technology
chapter 13
Printing Services
Literature Fulfillment
Proxy Solicitation and Processing
Unclaimed Property
Lockbox
Others
chapter 14
Areas of Opportunity
OpenEnd Funds Outside the United States
The Opportunities and Challenges for US Fund Companies
chapter 15
The Mutual Fund Industry in the Life Cycle
Persistent Industry Issues
Conclusions
Copyright

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About the author (2012)

LEE GREMILLION is a former partner at PricewaterhouseCoopers where he provided operations and systems expertise to many U.S. mutual funds, insurance companies, investment managers, pension administrators, and banks. He earned a doctoral degree from Harvard Business School and was professor of management information systems at Indiana University and Boston University. Dr. Gremillion worked for IBM and The Colonial Group, Inc., before joining PricewaterhouseCoopers.

THE BOSTON INSTITUTE OF FINANCE (BIF) (www.bostonifi.com) develops and distributes multimedia and interactive learning solutions for professionals in the financial services industry. BIF possesses the largest digital repository of training material in the industry and manages the certification and training programs of thousands of corporate and individual learners in the United States and around the world.

THE NATIONAL INVESTMENT COMPANY SERVICE ASSOCIATION (NICSA) is a not-for-profit trade association serving the operations sector of the mutual fund industry worldwide. NICSA provides leadership, education programs, and information exchanges to its members, which consists of over 400 companies worldwide.

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