Download or read book Mutual funds greater transparency needed in disclosures to investors written by and published by DIANE Publishing. This book was released on with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mutual Funds written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-10-20 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mutual Funds: Greater Transparency Needed in Disclosures to Investors
Download or read book Mutual Funds written by United States. General Accounting Office and published by . This book was released on 2003 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mutual Funds written by United States. General Accounting Office and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Tool for Improved Mutual Funds Transparency written by John A. Haslem and published by . This book was released on 2016 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article provides a broad treatment of transparency and the specific normative data and information that are essential to make transparency effective for meeting the normative needs of shareholders. The template offered here is a tool for providing transparency in normative mutual fund disclosure in a convenient online package.Mutual funds, their investment advisers, Congress, the SEC, NASD, and the industry trade association should all do much more to improve regulation and transparency in normative fund disclosure. Shareholders need fund transparency that represents their role as fund owners, and which provides them with needed online disclosure for informed decision making.
Download or read book A Tool for Improved Mutual Fund Transparency written by John A. Haslem and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article provides a broad treatment of transparency and the specific normative data and information that are essential to make transparency effective for meeting the normative needs of shareholders. The template offered here is a tool for providing transparency in normative mutual fund disclosure in a convenient online package. Mutual funds, their investment advisers, Congress, the SEC, NASD, and the industry trade association should all do much more to improve regulation and transparency in normative fund disclosure. Shareholders need fund transparency that represents their role as fund owners, and which provides them with needed online disclosure for informed decision making.
Download or read book Chapter 17 written by John A. Haslem and published by . This book was released on 2018 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 40Act states that the interests of shareholders are compromised when mutual funds are operated in the interest of fund advisers. In this regard, one of the Act's major objectives is to ensure investors receive adequate and accurate information. They do not. For this reason, Congress, the SEC, fund advisers and independent directors, and the fund industry must focus on the goal of requiring across the board normative transparency of disclosure. This disclosure includes adoption of “best practices” over the current focus on “rule-making,” which allows incorrect accounting and incomplete, missing, misleading and perfunctory disclosure. Adoption of the Total Expense Ratio construct and its components would provide a major portion of what is needed in the way of normative transparency of disclosure by placing upfront its four major categories of fees and their sub-categories. In so doing, current indirect fund shareholder payments by advisers/distributors would no longer be “behind the mutual fund curtain.” There would also be continual need to benchmark. By making these payments “behind the mutual fund curtain” upfront and transparent, there will be increased pressure on fund advisers and independent directors, the fund industry, Congress, and the SEC to prohibit inappropriate fund practices and actions, most importantly, selling group payments of dealer concessions and customer servicing fees, the several types of revenue sharing payments, and costly soft-dollar trades. If successful, there would also be continual need to benchmark normative transparency if it is to be maintained with future changing conditions. But, while improvements in regulatory disclosure are likely to occur over time, it is most unlikely the political process will achieve complete normative transparency of disclosure. However, industry and political obstacles for reform are more likely to be overcome if major “shareholder friendly“ fund advisers and dedicated independent directors work collectively, vigorously, and proactively for Congressional and SEC legal and regulatory action. However, such success will be difficult to attain because of the powerful influence of many major mutual fund advisers who benefit greatly from the regulatory status quo, and at the great expense of fund shareholders.
Download or read book Normative Transparency of Mutual Fund Disclosure and the Case of the Expense Ratio written by John A. Haslem and published by . This book was released on 2017 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study further develops and defines the concept of normative transparency of disclosure. As defined, mutual fund normative transparency is that fund proactive, voluntary disclosure as well as legal and regulatory disclosure required for investors to be able to make information efficient fund investment decisions.To attain normative transparency of mutual funds disclosure, Congress, the SEC, and fund advisers, managers and independent directors should individually and collectively become more proactive in serving and protecting shareholders. Normative transparency of disclosure is not likely to be achieved across the board. There are political obstacles to complete transparency being achieved by Congress and the SEC, or by collaboration with individual funds, the funds industry and its trade association. The final reality is that is will likely fall to independent directors of individual mutual funds to provide normative transparency of disclosure for their shareholders. And, what should be done will also change over time as the industry evolves. Future study of normative transparency of mutual fund disclosure should continue to find its way across the breadth of fund laws, regulations, and practices. Included should be assessment of the fund cost and performance differences to current shareholders from flow (portfolio changes due to investor purchases and redemptions of fund shares) versus non-flow (intended portfolio changes). Providing liquidity to investors can have a larger impact on fund performance than the current regulatory expense ratio.
Download or read book H R 2420 the Mutual Funds Integrity and Fee Transparency Act of 2003 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 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Indecent Disclosure written by John A. Haslem and published by . This book was released on 2015 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Investment Company Act of 1940 states that the interests of shareholders are compromised when mutual funds are operated in the interest of fund advisers. In this regard, one of the Act's major objectives is to ensure that investors receive adequate and accurate information.This study focuses on the achievement of normative transparency of disclosure. Normative transparency refers to the degree of proactive voluntary disclosure and revised legal and regulatory disclosure required for mutual fund shareholders to have all the information they need to make efficient fund investment decisions.Normative transparency requires changes in the current practices of individual funds across the fund industry, as well as changes in current laws and regulation.To attain normative transparency in mutual fund disclosure, Congress and the SEC, as well as fund advisers, managers, and independent directors must voluntarily and collectively become more proactive in serving and protecting shareholders. Basically, the achievement of fund normative transparency rests with independent directors who are proactively motivated and further empowered to vigorously pursue their fiduciary mandate as shareholder watchdogs.
Download or read book Normative Transparency of Disclosure for Mutual Fund Investors written by John A. Haslem and published by . This book was released on 2018 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Investment Company Ac ...
Download or read book Oversight Hearing on Mutual Funds written by United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Financial Management, the Budget, and International Security and published by . This book was released on 2004 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hedges on Hedge Funds written by James R. Hedges, IV and published by John Wiley & Sons. This book was released on 2004-11-08 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: A just-in-time guide to hedge fund investing Today, access to hedge funds is increasingly available to average investors through "funds of hedge funds" and other registered products. These vehicles allow investors to invest as little as $25,000 to start. Hedges on Hedge Funds provides an overview of hedge fund investing and delves into the key investment strategies employed by hedge fund managers. This comprehensive resource directs people to proper fund selection and allocation, but most importantly, it helps investors avoid the potential pitfalls associated with the industry by discussing transparency, size vs. performance, and other important issues associated with selecting and profiting with hedge funds. James R. Hedges, IV (Naples, FL), is recognized as a pioneer in the hedge fund industry for his efforts to monitor and review funds and fund managers for performance and transparency. He is the founder, President, and Chief Investment Officer of LJH Global Investments-an investment advisory firm that helps clients select and invest in hedge funds.
Download or read book Mutual Funds Information on Trends in Fees and Their Related Disclosure written by Richard J. Hillman and published by DIANE Publishing. This book was released on 2008-08 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Millions of U.S. households have invested in mutual funds whose value exceeded $6 trillion in 2003. The fees and other costs that these investors pay as part of owning mutual funds can significantly affect their investment returns. Press reports suggest that mutual fund fees have increased during the market downturn in the several years prior to 2003. In addition, questions have been raised as to whether the disclosures of these fees and other costs, such as brokerage commissions, are sufficiently transparent. In March 2003, a report showed the trends in mutual fund fees from 1990 and 1998 for large funds that were calculated by collecting data on how these 76 funds¿ fees changed from 1998 to 2001. Charts and tables.
Download or read book Review of Current Investigations and Regulatory Actions Regarding the Mutual Fund Industry written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2004 with total page 1132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mutual funds assessment of regulatory reforms to improve the management and sale of mutual funds written by and published by DIANE Publishing. This book was released on with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Toward Normative Transparency of Disclosure in a Revised Mutual Fund Total Cost Construct written by John A. Haslem and published by . This book was released on 2017 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first goal is to review types of transparency -- relative versus absolute and positive versus normative, transparency of the SEC total expense ratio, stewardship and transparency, the aftermath of the fund scandal, the movement toward normative transparency, and future transparency. The concept of normative transparency of disclosure refers to the degree of mutual fund voluntary and proactive disclosure and also new and revised legal and regulatory disclosure required for shareholders to be able to make information-efficient fund investment decisions.The second goal is to apply normative transparency of disclosure to a more complete and more empirically based mutual fund Total Cost Construct (formerly New The Journal Total Expense Ratio). The Total Cost Construct (and selected Supplements) include previous and numerous newly identified fund “cost-item” categories, subcategories, components, and subcomponents. Further, the Total Cost Construct and selected Supplements include numerous newly identified (but yet partial) fund sample cost estimates of cost-item categories, subcategories, components, and subcomponents, all defined as percentages of total net assets (% TNA). The Total Cost Construct will continue to evolve as additional and/or revised cost-items are identified, and/or additional fund sample cost estimates of cost-items are identified.
