CH-07 - Investments: An Introduction Chapter 7: 10e...

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Investments: An Introduction 10e Herbert B. Mayo Chapter 7 : Closed-end Investment Companies, Real Estate Investment Trusts (REITs) and Exchange-Traded Funds (ETFs)
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2 Closed-end Investment Companies Fixed capital structure Shares are bought and sold in the secondary markets.
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3 Closed-end Investment Companies Shares may sell for a premium or discount from NAV. Tendency for shares to sell at a discount from NAV
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4 Sources of Return to the Investor Income distributed in the form of dividends Capital gains distributions Appreciation in the NAV Change in the discount/premium
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5 Unit Trusts Passive investment Self-liquidating portfolio Generates flow of funds to investors
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6 Real Estate Investment Trusts (REITs) Specialized investment company Equity trust - owns properties Mortgage trust - holds mortgages
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CH-07 - Investments: An Introduction Chapter 7: 10e...

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