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Improving Price Competition For Mutual Funds And Bonds
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Author :United States. Congress. House. Committee on Commerce. Subcommittee on Finance and Hazardous Materials Publisher : ISBN 13 : Total Pages :160 pages Book Rating :4.0/5 ( download)
Book Synopsis Improving Price Competition for Mutual Funds and Bonds by : United States. Congress. House. Committee on Commerce. Subcommittee on Finance and Hazardous Materials
Download or read book Improving Price Competition for Mutual Funds and Bonds written by United States. Congress. House. Committee on Commerce. Subcommittee on Finance and Hazardous Materials and published by . This book was released on 1998 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Improving Price Competition for Mutual Funds and Bonds by : Michael G. Oxley
Download or read book Improving Price Competition for Mutual Funds and Bonds written by Michael G. Oxley and published by . This book was released on 1998-03-01 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Questions: Do investors know what they are paying for when they invest in a mutual fund? And do funds compete to provide the best services at the lowest cost? Witnesses: J. Patrick Campbell, NASDAQ; Harold Evensky, Esq.; Matthew Fink, ICI; Tom Gardner, The Motley Fool, Inc.; Frank Hoadley, Cap. Fin., State of Wisconsin; William James, Bond Market Assoc.; Arthur Levitt, Jr., Barry Barbash, & Richard Lindsey, SEC; A. Michael Lipper, Lipper Analytical Services; F. William McNabb, III, & Kenneth Volpert, Vanguard Group; Geoffrey Rosenberger, Clover Capital Management; Suresh Sundaresan, Columbia Univ. School of Business; & Charles Trzcinka, Univ. of Buffalo, SUNY.
Book Synopsis IMPROVING PRICE COMPETITION FOR MUTUAL FUNDS AND BONDS... HEARING... SERIAL NO. 105-130... COMMITTEE ON COMMERCE, U.S. HOUSE OF REPRESENTATI. by :
Download or read book IMPROVING PRICE COMPETITION FOR MUTUAL FUNDS AND BONDS... HEARING... SERIAL NO. 105-130... COMMITTEE ON COMMERCE, U.S. HOUSE OF REPRESENTATI. written by and published by . This book was released on 1999* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Swing Pricing and Fragility in Open-end Mutual Funds by : Dunhong Jin
Download or read book Swing Pricing and Fragility in Open-end Mutual Funds written by Dunhong Jin and published by International Monetary Fund. This book was released on 2019-11-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to prevent runs on open-end mutual funds? In recent years, markets have observed an innovation that changed the way open-end funds are priced. Alternative pricing rules (known as swing pricing) adjust funds’ net asset values to pass on funds’ trading costs to transacting shareholders. Using unique data on investor transactions in U.K. corporate bond funds, we show that swing pricing eliminates the first-mover advantage arising from the traditional pricing rule and significantly reduces redemptions during stress periods. The positive impact of alternative pricing rules on fund flows reverses in calm periods when costs associated with higher tracking error dominate the pricing effect.
Book Synopsis The Mutual Fund Industry by : R. Glenn Hubbard
Download or read book The Mutual Fund Industry written by R. Glenn Hubbard and published by Columbia University Press. This book was released on 2010 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mutual funds form the bedrock of retirement savings in the United States, and, considering their rapid growth over recent decades, are sure to become even more financially critical in the coming decades. Because the size of fees paid by investors to mutual fund advisers can strongly affect the return on investment, these fees have become contentious in Congress and the courts, with many arguing that investment advisers grow rich at the expense of investors. This groundbreaking book not only conceptualizes a new economic model for the industry but uses this model to test price competition between investment advisers. Its highly experienced authors track the growth of the industry over the past twenty-five years and present the arguments and evidence both for and against theories of adviser malfeasance, as well as the assertion that market forces fail to protect investors' returns from excessive fees. The volume briefly reviews the regulatory history of mutual fund fees and leading case decisions addressing excessive fees. It also reveals the extent to which the governance structure of mutual funds impacts fund performance. There is no greater text for those who seek to understand today's mutual fund industry, including investors, money managers, fund directors, securities lawyers, economists, and those concerned with regulatory policy toward mutual funds
Book Synopsis 105-2 Hearing: Improving Price Competition for Mutual Funds and Bonds, Serial No. 105-130, September 29, 1998 by : United States. Congress. House. Committee on Commerce
Download or read book 105-2 Hearing: Improving Price Competition for Mutual Funds and Bonds, Serial No. 105-130, September 29, 1998 written by United States. Congress. House. Committee on Commerce and published by . This book was released on 1999* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Commerce. Subcommittee on Finance and Hazardous Materials Publisher : ISBN 13 : Total Pages :88 pages Book Rating :4.0/5 ( download)
Book Synopsis The Bond Price Competition Improvement Act of 1999 by : United States. Congress. House. Committee on Commerce. Subcommittee on Finance and Hazardous Materials
Download or read book The Bond Price Competition Improvement Act of 1999 written by United States. Congress. House. Committee on Commerce. Subcommittee on Finance and Hazardous Materials and published by . This book was released on 1999 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mutual fund fees : additional disclosure could encourage price competition : report to congressional requesters by :
Download or read book Mutual fund fees : additional disclosure could encourage price competition : report to congressional requesters written by and published by DIANE Publishing. This book was released on with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Price Competition in the Mutual Fund Industry by : Sitikantha Parida
Download or read book Price Competition in the Mutual Fund Industry written by Sitikantha Parida and published by . This book was released on 2017 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: We find a puzzling fact about the mutual fund industry that funds operating in more competitive segments charge higher fees. We argue that this surprising positive relation between competition and fund fees is consistent with strategic fee setting by funds. Fund performance is better and more persistent in less competitive segments, which attracts relatively more performance-sensitive investors. This leaves relatively less performance-sensitive investors in more competitive markets. Hence, funds operating in more competitive markets face a relatively inelastic demand curve and take advantage of it by increasing their fees (which reduces investors' net returns). Our findings have important policy implications that market competition on its own may not be sufficient to decrease the fund fees and that regulatory interventions are required to increase investor awareness of mutual fund fees and their adverse impacts on net fund performance.
Book Synopsis Competitive Equity by : Peter J. Wallison
Download or read book Competitive Equity written by Peter J. Wallison and published by A E I Press. This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mutual funds are a key resource for Americans saving for retirement, college, and other long-term goals. With hundreds of fund families and thousands of individual funds crowding the marketplace, competition would hardly seem an issue. Yet funds are failing to compete effectively on price. This is a serious problem for savers, because small price differences can deeply erode investment results over time. This book argues that the problem is not too little regulation, but too much and of the wrong kind. The authors show how current policy leads to de facto rate regulation and propose a new collective investment vehicle.
Book Synopsis Mutual Fund Fees by : United States. General Accounting Office
Download or read book Mutual Fund Fees written by United States. General Accounting Office and published by . This book was released on 2000 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Publisher : ISBN 13 : Total Pages :248 pages Book Rating :4.:/5 (327 download)
Book Synopsis Mutual Fund Industry Practices and Their Effect on Individual Investors by : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Download or read book Mutual Fund Industry Practices and Their Effect on Individual Investors written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2003 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Distributed to some depository libraries in microfiche.
Book Synopsis When Cheaper is Better by : Pablo Ruiz-Verdú
Download or read book When Cheaper is Better written by Pablo Ruiz-Verdú and published by . This book was released on 2006 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we develop a model of the market for equity mutual funds that captures three key characteristics of this market. First, there is competition among funds. Second, fund managers' ability is not observed by investors before making their investment decisions. And third, some investors do not make optimal use of all available information. The main results of the paper are that 1) price competition is compatible with positive mark-ups in equilibrium; and 2) worse-performing funds set fees that are greater or equal than those set by better-performing funds. These predictions are supported by available empirical evidence.
Book Synopsis The New Stock Market by : Merritt B. Fox
Download or read book The New Stock Market written by Merritt B. Fox and published by Columbia University Press. This book was released on 2019-01-08 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. stock market has been transformed over the last twenty-five years. Once a market in which human beings traded at human speeds, it is now an electronic market pervaded by algorithmic trading, conducted at speeds nearing that of light. High-frequency traders participate in a large portion of all transactions, and a significant minority of all trade occurs on alternative trading systems known as “dark pools.” These developments have been widely criticized, but there is no consensus on the best regulatory response to these dramatic changes. The New Stock Market offers a comprehensive new look at how these markets work, how they fail, and how they should be regulated. Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg describe stock markets’ institutions and regulatory architecture. They draw on the informational paradigm of microstructure economics to highlight the crucial role of information asymmetries and adverse selection in explaining market behavior, while examining a wide variety of developments in market practices and participants. The result is a compelling account of the stock market’s regulatory framework, fundamental institutions, and economic dynamics, combined with an assessment of its various controversies. The New Stock Market covers a wide range of issues including the practices of high-frequency traders, insider trading, manipulation, short selling, broker-dealer practices, and trading venue fees and rebates. The book illuminates both the existing regulatory structure of our equity trading markets and how we can improve it.
Book Synopsis Legislative Calendar by : United States. Congress. House. Committee on Commerce
Download or read book Legislative Calendar written by United States. Congress. House. Committee on Commerce and published by . This book was released on with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Bonds for Canadians by : Andrew Allentuck
Download or read book Bonds for Canadians written by Andrew Allentuck and published by John Wiley & Sons. This book was released on 2009-12-09 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: PRAISE FOR BONDS FOR CANADIANS "Andrew Allentuck is one of the premiere financial journalist covering fixed income markets from a uniquely Canadian perspective. His knowledge of the bond market is second to none." --Randy LeClair, CFA, Vice-President & Portfolio Manager, AIC Investment Services Inc. "Andrew Allentuck's new book explains the complexities of the bond market to Canadians in an engrossing and deliciously entertaining manner. Superbly written, Bonds for Canadians is both a blueprint for financial prosperity as well as a delightful and often humorous look at the most misunderstood and idiosyncratic of markets. I wish this book had been around 26 years ago when I began my career." --Tom Czitron, CFA, Managing Director, Head of Bonds and Fixed Income, Sceptre Investment Counsel Ltd. "Canadian retail investors are largely in the dark on how bonds work or how to incorporate them into their investment strategy...That is, until now. Deconstructing what is often considered the most cerebral of financial markets, Mr. Allentuck provides an engaging, entertaining and anecdoteladen account of what boods are, how they work and why they matter more now than ever. This is the sort of book that every serious retail investor should carry around, dog-eared and rolled, in his back pocket." --Martin Cej, Investment Editor, The Globe and Mail "Bonds for Canadians shows how to escape the roller-coaster of risks of the stock market while generating a tidy fortune for retirement. It's an important contribution to financial planning." --Daniel F. Stonach, Registered Financial Planner, President, Stronach Financial Group Inc.
Book Synopsis The Sector Strategist by : Timothy J. McIntosh
Download or read book The Sector Strategist written by Timothy J. McIntosh and published by John Wiley & Sons. This book was released on 2012-03-02 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using Asset Allocation to Reduce Risk and Boost Investing Returns Presenting a revolutionary new investment philosophy that redefines how we view sector investing, The Sector Strategist challenges long held ideas about how this unique area of finance operates. Misconceptions, such as the belief that international stocks provide diversification, are preventing investors from making the most of the opportunities for financial growth that sectors provide, and the book presents practical, applicable evidence that a better, more profitable option is available. Additionally, the book hopes to give readers an opportunity to improve returns and protect retirement assets by providing a wide range of techniques and tools designed to optimize wealth that the author has developed over the last decade. Designed to help investors avoid the often inaccurate assumptions made by "experts" which promote typical asset allocation Written by Timothy McIntosh, investment expert and founder of SIPCO/Strategic Investment Partners, whose firm's stock portfolio has earned five-star returns from Morningstar annually since 2003 Contains easy-to-apply tools for wealth protection and growth that have been proven successful during the market fluctuations of 2002 and 2008 The history and opportunities afforded by sectors have been written about at length, but no book has broken with tradition so radically, and with such success, as The Sector Strategist.
