Investment+Companies

Investment+Companies - Investment Companies Reading Chapter...

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Investment Companies Reading: Chapter 4
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2 Introduction Function Pool funds of individual investors and invest in a wide range of securities or other assets. Advantages Diversification and divisibility Professional management Lower transaction costs Record keeping Ability to participate in investments that may be available only to larger investors Government oversight
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Introduction Types (under the investment act of 1940) Unit investment trusts Open-end mutual funds i.e., Fidelity or Vanguard Closed-end funds traded like stocks Similar investment organizations Real Estate Investment Trusts (REITs) commingled funds (partnerships) Hedge funds private investment pools (partnerships)
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4 Mutual Funds - Types Money market funds Bond funds By default risk government vs corporate High-income (junk) bond funds By maturity short term vs long term By tax treatment taxable vs tax-free (municipal)
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