1 Mutual Funds Flashcards
NAV
value of
Net Asset Value
1 share in portfolio
Public Offering Price (POP)
= Net Asset Value (NAV) + Sales Charge
Management Fee
who gets
what form
protfolio mgr / investment advisor
sales & 12b-1 - promotion
Shares
A | B | C
Issue
Load
12b-1
No Load
= what bps
12b-1 , 25 bps
ave net assets
Expense Ratio
UIT
structure
voting
redemption
selection & management
- trust or custodian
- no BOD, no voting
- redeemable securities by trust
- select but do not actively manage “supervised and unmanaged”
EFT
Exchange Traded Funds
- organization
- trade timing
- fees
- purchasing
- organized as UIT
- trade intra day like stock
- commission, no sales charge
- shares bought on margin, sold short
EFT Cont.
- expense ratio
- portofolio
- cost savings
- indexes
- taxes
- low expense ratio
- diversification
- low cost - bulk purchase
- indexes included
- tax advantages
Structured Products
- HODRs - who, timing of trade, basket of
- ETN
- OTC
- Sovern Debit
- SPDRs
Merrill Lynch - traded daily
basket of stocks in sector
Structured Products
- HODRs
- ETN - who, secured?, performance basis, insurance?
- OTC
- Sovern Debit
- SPDRs
Barclays
unsecured debt
performance based upon mkt index minus fees
no coupon pmts or principal protection
Structured Products
- HODRs
- ETN
- OTC
- Sovern Debit
- SPDRs
exotic options
flexible
Structured Products
- HODRs
- ETN
- OTC
- Sovern Debt
- SPDRs
debt issued by ntl govt in goreign securities
Structured Products
- HODRs
- ETN
- OTC
- Sovern Debit
- SPDRs- based on, trade timine, margin?
S&P equity index
interday
margin trades
short selling
growth
div reinvested for development
generate cap gains opposed to income