《贵金属投资技术分析英文版46.pptVIP

Lecture Agenda Learning Objectives Important Terms Where can Mutual Funds be Purchased? Who can sell mutual funds? What is a Mutual Fund? Legal Structures of Mutual Funds The Mutual Fund Complex Management Fees Advantages and Disadvantages of Mutual Funds Segregated Funds Summary Conclusions Learning Objectives To describe mutual fund organizations To identify the advantages and disadvantage of investing in mutual funds To understand the costs associated with investing in mutual funds To understand the differences between segregated funds and mutual funds. Important Terms Closed end Fund Mutual Fund Management Expense Ratio (MER) Net Asset Value per Share (NAVPS) Open-end Fund Segregated Fund Where can Mutual Funds Be Purchased? Mutual funds are sold by most financial institutions: Credit unions (ethical funds) Banks Insurance Companies Investment Companies Brokerage Houses Trust Companies Independent Mutual Fund Dealers You can usually set up a regular savings plan through your own financial institution…saving as little as $25.00 per month. You can invest in mutual funds outside or inside your RRSP. Who Can Sell Mutual Funds? The organization that markets (sells) mutual funds must be licensed in the province where it offers these products. In addition, the person working for the licensed organization must also be licensed under either: MFDA (Mutual Fund Dealers Association) IDA (Investment Dealers Association) In order to qualify for licensing, the individual must complete an accredited course of studies, have completed a supervised 90 day training program and have satisfied the accrediting body of their personal integrity through a thorough background check. For example: the MFDA will expect you to have completed the Canadian Investment Funds Course through the Investment Funds Institute of Canada, or the Investment Funds in Canada Course through the Institute of Canadian Bankers or the Canadian Securities Course through the Canadian Securities Institute. What