The Fund Industry: How Your Money Is Managed

The Fund Industry: How Your Money Is Managed

by Robert Pozen, Theresa Hamacher
     
 

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Around the world, there are tens of thousands of mutual funds with over $20 trillion in assets. The Fund Industry: How Your Money Is Managed gives you an inside look at how mutual funds work—how they invest money, distribute their shares to the public, and provide service to fund shareholders—and why they have become the investment vehicle of choice

Overview

Around the world, there are tens of thousands of mutual funds with over $20 trillion in assets. The Fund Industry: How Your Money Is Managed gives you an inside look at how mutual funds work—how they invest money, distribute their shares to the public, and provide service to fund shareholders—and why they have become the investment vehicle of choice for investors around the world.

Written by two fund experts—Robert Pozen, Chairman Emeritus of MFS Investment Management®, and Theresa Hamacher, President of NICSA—The Fund Industry details:

  • The history and growth of mutual funds, as well as their advantages and disadvantages compared to alternative investment vehicles, such as ETFs and hedge funds

  • How to evaluate funds, categorizing them by security type and investment objective and researching them using the prospectus, shareholder reports, and third-party reviews

  • How fund managers pick stocks and bonds, make trading decisions, and vote proxies

  • How mutual funds are sold through brokers, banks, insurance agents, retirement plans, and fund supermarkets

  • The roles of the independent directors, transfer agents, and fund accountants

  • The opportunities and challenges of investing and gathering assets internationally

The Fund Industry companion website offers readers additional, exclusive information, as well as a special section for teachers containing review and discussion questions, case studies, and suggested readings.

Editorial Reviews

From the Publisher
“I think most people will find The Fund Industry one of the most informative books they’ve read in quite a while. … It shows that mutual fund investors know mighty little about where they’ve put their hard-earned money.”
Brenda Jubin, Seeking Alpha, February 2011

“We can even envision this book as required reading for new employees of investment advisory fi rms or suggested reading for directors new to the investment company industry.”
The Investor’s Guide to Closed-End Funds, April 2011 a Jubin, Seeking Alpha, February 2011

“ … a valuable overview of the operations of the mutual funds industry.”
Pensions & Investments, April 2011

“… the book is more than worthwhile … it certainly makes the recommended reading list.”
The New York Times, April 2011

Paul B. Brown
The authors are not writing here about how to invest in various funds—the personal finance component of this 525-page book makes up only a small fraction of the work. Instead, their focus, as the subtitle makes clear, is "how your money is managed." They explain the legal requirements governing funds; what fund managers actually do day to day, and the roles played by transfer agents and the like…It may not answer all of your questions about how to find the best mutual funds, but it certainly makes the recommended reading list.
—The New York Times

Product Details

ISBN-13:
9780470634257
Publisher:
Wiley
Publication date:
02/08/2011
Series:
Wiley Finance Series, #596
Pages:
544
Product dimensions:
6.20(w) x 8.90(h) x 1.60(d)

Related Subjects

Meet the Author

ROBERT POZEN is Chairman Emeritus of MFS Investment Management®, as well as a Senior Lecturer at the Harvard Business School and a Senior Fellow at the Brookings Institute. He was previously vice chairman of Fidelity Investments; chairman of the SEC Advisory Committee on improving financial reporting; and a member of the Presidential Commission to Strengthen Social Security. A prolific author of editorials in leading newspapers, in 2009 he published the book Too Big to Save?: How to Fix the U.S. Financial System. Pozen graduated summa cum laude from Harvard College and earned a doctor of laws from the Yale Law School where he was an editor of the Yale Law Journal.

THERESA HAMACHER, CFA, is President of NICSA, the National Investment Company Service Association, and the former chief investment officer for Pioneer Investment Management USA, where she supervised a team of over fifty investment professionals managing more than $15 billion in global equity and fixed income assets for mutual fund and institutional clients. Previously, she was the chief investment officer for Prudential Mutual Funds. In 1984, she ran the Prudential-Bache (Tax-Managed) Utility Fund, the top-performing mutual fund in the United States. She is coauthor of The Pocket Idiot's Guide to Investing in Stocks. Hamacher is a summa cum laude graduate of Yale College and a Chartered Financial Analyst.

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