Term
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Definition
| fixed portfolio of uniform assets, unmanaged |
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Term
Managed Investment Companies
Open end |
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Definition
Fund issues new shares when investors buys in and redeem them wen investors cash out
Priced at be asset value |
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Term
Managed investment companies
closed end |
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Definition
| no change in shares outstanding, old investors cash out by selling to new investors, priced at premium or discout to NAV |
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Term
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Definition
direct marketed funds
Sales force distribution
financial supermarkets |
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Term
Fee Structure
Mutual Funds |
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Definition
OPERATING EXPENSES
FRONT END LOAD
BACK END LOAD
12 B-1 CHARGE |
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Term
| When does late trading occur |
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Definition
| Accepting buy or sell orders after the market cloes and NAV is determined |
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Term
| Taxation of Mutual fund income |
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Definition
| Taxes are paid by the invester, high portfolio turnover leads to tax innefficiency |
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Term
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Definition
trad conituously, available on margin, lower cost, tax efficient
Disadvantage prices depart form NAV must be purchased from a broker |
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Term
| Diversified Equit Funds follow was index> |
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Definition
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