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Level 76

Investment Companies & Exchange


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Open End Fund
What are the Types of Investment Companies?
Close End Fund
Number of shares remains constant after it is issued by the underwriter
Unit Trusts
Specialize in Bond investment
Sales Charge
Shareholders fee
Expense Ratio
Covers funds' expenses
Load
Sales charge for the agent-distributed fund
Front end load
Deducted "up front"
Back end load
Deducted when the shares are sold
No-Load Mutual Fund
Buying the Fund "at NAV"
Level Load
Deducted uniformly annually
Economic Motivations for Funds
Risk Reduction via Diversification
Taxation of Mutual Funds
Distributions of income are taxable at the investor level, not the fund level.