Since a felony conviction may result in a manager being statutorily barred from managing a mutual fund under the Investment Company Act, the federal statute that regulates mutual funds, certain fund complexes have engaged in fraudulent document creation and destruction to conceal illegalities.
Lynch eventually took over as director of research for the small investment mutual fund company and in 1977 took over portfolio management of Fidelity's Magellan mutual fund.
As we testified, many other abuses such as personal trading by portfolio managers, underwriters parking investment banking client stock in affiliated mutual funds, payment of Investment Company Institute fees from fund assets, have yet to surface as concerns.
FORBES: The Great Mutual Fund Clean Up That Almost Happened (April 4, 2004 )
The story line is based on data on mutual fund sales from the Investment Company Institute.
Today a trade association for the mutual fund industry, the Investment Company Institute (ICI), released a study that reveals some surprising news: People who are just retiring now are better off financially than previous generations.
FORBES: Good News: Today's And Tomorrow's Retirees Are Better Off Than You Think
The intent behind the Investment Company Act of 1940, which regulates mutual funds, and the Investment Advisers Act of 1940, which regulates money managers, was to provide investors with the important information they needed in order to determine whether to invest with a given manager and to judge the ongoing performance of their managers.
But data from the Investment Company Institute, a mutual-fund trade group, show that net U.S.-stock mutual-fund purchases in March have been inconsistent and weak, raising questions about how enthusiastic the public really is.
Among those who have weighed in on the draft: the Investment Company Institute (which represents mutual funds), the American Bankers Association, the Securities Industry and Financial Markets Association and the Vanguard Group.
And the Investment Company Institute reports that deposits into mutual funds last week were the highest since early 2007.
FORBES: Strongly Bullish Winter Seasonality Lifts Stocks Again
It's not clear what caused the spikes, but on Oct. 1 Kogan met with investment managers at Putnam Investments, a mutual fund company that is one of Schering's biggest shareholders.
Ask the investment consultant (who received compensation from the mutual fund company) and the mutual fund company itself to prepare the proper response for the paper trail.
FORBES: Corporate Sponsors Agree: 401(k) Plan Results Don't Matter (April 8, 2008)
The Investment Company Act guards against overuse of leverage in mutual funds to protect retail investors.
According to the latest report from the Investment Company Institute, investors bailed out of bond mutual funds last week for the third straight week, and the exodus accelerated to the fastest pace since October, 2008.
For example, in the entire history of the Investment Company Act (the federal statute applicable to mutual funds) only one Compliance Director to a mutual fund adviser has ever blown the whistle on his employer since 1940.
Indeed, the Casey Institute has yet to find a single U.S. investment bank, public pension fund, mutual fund or insurance company which includes a national security-related review in its "due diligence" assessments of emerging market entities.
Just in the last two months, individual investors have been putting money back into stock mutual funds from money market funds, according to figures from the Investment Company Institute.
FORBES: IPO Market Showing Signs Of Life - Even For Stodgy Industrials
Variable annuities are merely an insurance company wrapper around a pooled investment account similar to a mutual fund.
At the heart of the problem is the fact that the Commission continues to believe the legal fictions incorporated in the Investment Company Act of 1940, the federal statute that regulates mutual funds.
FORBES: The Great Mutual Fund Clean Up That Almost Happened (April 4, 2004 )
The new service, offered through its investment advisers, is similar to what the company created with its Mutual Fund Marketplace.
According to data from industry trade group ICI (Investment Company Institute) the average fees charged by actively managed equity mutual funds are 1.44 percent annually.
FORBES: Five Reasons Your Mutual Fund Probably Underperforms The Market
According to an SEC official, the regulators are evaluating whether derivatives are being used by mutual funds and ETFs in ways that are consistent with the protections of the Investment Company Act.
Data published by the Investment Company Institute shows that the amount of weekly estimated outflows from domestic equity mutual funds has decreased during four out of the past five weeks.
Virtus Investment Partners is a lucky casualty of the financial crisis--a sleepy mutual fund company spun off from insurer Phoenix Companies on Dec. 31, 2008, just as financial markets neared their depths.
Just as investors in most mutual funds and ETFs don't realize they are technically buying shares in an "investment company, " investors in commodities ETFs and some other ETFs may not realize they are investing in portfolios that are set up as trusts or limited partnerships.
WSJ: BlackRock Wants Some ETFs to Be Sold Under a Different Label
The average stock mutual-fund investor paid 0.79% in fees last year, according to the Investment Company Institute, a fund-industry trade group.
WSJ: Upside: Building a Dirt-Cheap Portfolio Is Getting Even Easier
In 1990, the SEC issued the Investment Company Act Release No. 17809 and ultimately paved the way for the formation of mutual funds that allowed for share creation and redemption during the day.
There the consultant, investment manager and mutual fund provider were all affiliates of the employer and there was a vast amount of company stock in the plan.
FORBES: International Campaign to Eliminate Pension Consultant Abuses (November 2, 2004 )
应用推荐