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by Robert Pozen (Author), Theresa Hamacher (Author)
A guide to how your money is managed, with foreword by Nobel laureate Robert Shiller
The Fund Industry offers a comprehensive look at mutual funds and the investment management industry, for fund investors, those working in the fund industry, service providers to the industry and students of financial institutions or capital markets. Industry experts Robert Pozen and Theresa Hamacher take readers on a tour of the business of asset management. Readers will learn how to research a fund and assess whether it's right for them; then they'll go behind the scenes to see how funds are invested, sold and regulated. This updated edition expands coverage of the segments of the industry where growth is hottest, including hedge funds, liquid alternatives, ETFs and target date funds--and adds an introduction to derivatives.
Mutual funds are a key component of financial planning for 96 million Americans. Nearly a quarter of U.S. household savings are invested in funds, which give individual investors affordable access to professional management. This book provides a detailed look at how firms in the industry:
- Invest those savings in stocks and bonds
- Evaluate the risks and returns of funds
- Distribute funds directly to consumers or through financial advisors or retirement plans
- Handle the complex operational and regulatory requirements of mutual funds
- Vote proxies at the annual meetings of public companies
- Expand their operations across borders
Along the way, the authors describe the latest trends and discuss the biggest controversies--all in straightforward and engaging prose. The Fund Industry is the essential guide to navigating the mutual fund industry.
Front Jacket
This thoroughly revised second edition of The Fund Industry provides a detailed guide to the world of mutual funds and the investment management industry for individual shareholders, institutional investors, and professionals in the industry. Written by experts Robert Pozen and Theresa Hamacher, this comprehensive resource explains how investors and advisers can research a fund and assess whether it's right for a particular financial or retirement plan. Written in an engaging and accessible style, the book and companion website provide an insider's view of how funds are invested, sold, and regulated.
The authors reveal how savvy fund managers pick stocks and bonds, make trading decisions, handle proxy voting, and evaluate risk and return. The Fund Industry explores the distribution of fund shares directly to consumers, through financial advisers and via retirement plans, and explains the complex operational and regulatory requirements governing funds. The final section discusses trends in the fund industry outside the United States, drawing on examples from Europe, Latin America, and Asia.
Keeping pace with today's investing trends, this updated edition expands coverage of hedge funds, liquid alternatives, ETFs, and target date funds, and adds an introduction to derivatives and how they are used in funds. The companion website offers readers exclusive information, as well as a special section for instructors, containing presentation materials, discussion questions, and case studies.
The Fund Industry, Second Edition is essential reading for all investors who want to know more about the funds they own and for financial professionals looking to navigate a complex industry and better serve their clients.
Back Jacket
This thoroughly revised second edition of The Fund Industry provides a detailed guide to the world of mutual funds and the investment management industry for individual shareholders, institutional investors, and professionals in the industry. Written by experts Robert Pozen and Theresa Hamacher, this comprehensive resource explains how investors and advisers can research a fund and assess whether it's right for a particular financial or retirement plan. Written in an engaging and accessible style, the book and companion website provide an insider's view of how funds are invested, sold, and regulated.
The authors reveal how savvy fund managers pick stocks and bonds, make trading decisions, handle proxy voting, and evaluate risk and return. The Fund Industry explores the distribution of fund shares directly to consumers, through financial advisers and via retirement plans, and explains the complex operational and regulatory requirements governing funds. The final section discusses trends in the fund industry outside the United States, drawing on examples from Europe, Latin America, and Asia.
Keeping pace with today's investing trends, this updated edition expands coverage of hedge funds, liquid alternatives, ETFs, and target date funds, and adds an introduction to derivatives and how they are used in funds. The companion website offers readers exclusive information, as well as a special section for instructors, containing presentation materials, discussion questions, and case studies.
The Fund Industry, Second Edition is essential reading for all investors who want to know more about the funds they own and for financial professionals looking to navigate a complex industry and better serve their clients.
Author Biography
ROBERT POZEN is Senior Lecturer at Harvard Business School and a Senior Fellow at the Brookings Institution. During his distinguished career, he has been active in business, government, and academia. From 1997 to 2001, he was President of Fidelity Management & Research Co. From 2004 to 2011, he was executive Chairman of MFS Investment Management, which now manages over $400 billion in assets.
THERESA HAMACHER, CFA, is president of NICSA, a trade association serving the global investment management community. She is the former CIO for Pioneer Investment Management USA in Boston, Massachusetts. Previously, she was the CIO for Prudential Mutual Funds in Newark, New Jersey.
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