The Mutual Fund Business

During the 1990s, the number of mutual funds has tripled to more than 6,000 funds with more than $4 trillion in assets and more than 60 million individual shareholders.

This text is designed for MBA and undergraduate business courses.

It is divided into four parts. Part 1 contains a general introduction to mutual funds, a short history of the industry, and an overview of mutual fund regulation.

Part II covers portfolio management of stock funds and bond funds, as well as execution of fund trades.

Part III discusses the marketing and servicing of mutual funds in the direct, intermediary, and retirement channels.

Finally, Part VI delves into more specialized topics: the financial dynamics of mutual funds, mutual funds as institutional investors, the role of technology in mutual fund complexes, and the internationalization of mutual funds.

Each chapter contains an introduction and selected articles, and a detailed case study or class exercise.

The book is accompanied by an extensive teacher's manual, with a complete set of lecture notes, slides (on diskette) to support the lectures, answers to the review questions for each chapter, and an analysis of each case study.