The Fund Industry: How Your Money is Managed

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9780470634257: The Fund Industry: How Your Money is Managed
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Every investor, student of finance and participant in the mutual fund industry needs to read this book The Fund Industry details how mutual funds are marketed, regulated, and invested in stocks and bonds. The book also describes the critical factors needed to choose a specific fund for your investment or retirement plan, including what to look for when reading prospectuses, shareholder reports and third party reviews. In addition, the book:

  • Discusses the spread of mutual funds to Asia, Europe, and Latin America
  • Compares mutual funds to other investment vehicles such as hedge funds and ETFs
  • Shows how to sort mutual funds by categories and subcategories based on security type and investment objective
  • Other titles by Pozen: Too Big to Save? How to Fix the U.S. Financial System, also by Wiley

Fundamentals of the Fund Industry is the most in-depth and up-to-date guide to navigating the mutual fund industry, written in an accessible style with many examples and charts.

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From the Back Cover:

The Fund Industry: How Your Money Is Managed

"The authors have done a fabulous job in explaining all aspects of mutual funds in a cohesive, reader-friendly work. With over 90 million investors entrusting over $11 trillion to mutual funds and assuming more responsibility for their retirement, this book is quite timely. It should be required reading for all investors."
Andrew J. Donohue, former Director, Division of Investment Management, U.S. Securities and Exchange Commission

"This book will greatly enhance your understanding of the fund industry. It describes how money is managed, how portfolios are constructed, and how valuations are established; it provides tools to help you research and compare funds, looking at their performance, risk and expenses, and it discusses the growing importance of funds around the globe. It's rare to find so much useful information in a single book."
Mohamed A. El-Erian, CEO and co-CIO of PIMCO; author of When Markets Collide

"Don't sit back and assume that someone else is managing your money properly. Take the time to learn about money managers' incentives and the structures within which they operate—and use this to guide your thinking about whom you should trust and on what basis. I only wish we had such transparent and honest operating instructions for the rest of the financial system."
Simon Johnson, coauthor of 13 Bankers; Professor, MIT Sloan School of Management

"This is a great book—written with informed knowledge and insight, but also with grace and style. It is a must-read for anyone interested in the fund industry in Asia, Europe, and the United States."
Lord Myners, Former UK Treasury Minister

"Just as veteran stock fund managers prize their tattered copies of Ben Graham and David Dodd's Security Analysis, coming generations of fund industry leaders will cling to this essential text. There's no other book that gives readers such a thorough overview of how the fund industry operates, its evolution, its regulation, and what makes it tick."
From the Foreword by Don Phillips, Managing Director, Morningstar, Inc.

From the Inside Flap:

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.

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