The Economics of Mutual Fund Markets: Competition Versus Regulation:
The original impetus for this research was provided several years ago by a request to assist Counsel for Fidelity Management and Research Corporation in analyzing the mutual fund industry, with particular emphasis on money market mutual funds. We were asked to focus our efforts on the mechanism by w...
Gespeichert in:
| Hauptverfasser: | , , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Dordrecht
Springer Netherlands
1990
|
| Ausgabe: | 1st ed. 1990 |
| Schriftenreihe: | Rochester Studies in Managerial Economics and Policy
7 |
| Schlagworte: | |
| Online-Zugang: | BTU01 Volltext |
| Zusammenfassung: | The original impetus for this research was provided several years ago by a request to assist Counsel for Fidelity Management and Research Corporation in analyzing the mutual fund industry, with particular emphasis on money market mutual funds. We were asked to focus our efforts on the mechanism by which the advisory fees of mutual funds are determined. This request arose out of litigation that challenged the level of advisory fees charged to the shareholders of the Fidelity Cash Reserve Fund. Subsequently, we were asked to provide similar assistance to Counsel for T. Rowe Price Associates regarding the fees charged to shareholders of their Prime Reserve Fund. 1940, advisers of Under the Investment Company Act of mutual funds have a fiduciary duty with respect to the level of fees they may charge a fund's shareholders. Since the passage of the Investment Company Act, there have been numerous lawsuits brought by shareholders alleging that advisory fees were excessive. In these lawsuits, the courts have failed to provide a set of standards for determining when such fees are excessive. Instead, they have relied on arbitrary and frequently ill-defined criteria for jUdging the reasonableness of fees. This failure to apply economic-based tests for evaluating the fee structure of mutual funds provided the motivation for the present book, which undertakes a comprehensive analysis of the economics of the mutual fund industry |
| Beschreibung: | 1 Online-Ressource (XIV, 242 p) |
| ISBN: | 9789400921856 |
| DOI: | 10.1007/978-94-009-2185-6 |
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| author | Baumol, William Goldfeld, Stephen M. Gordon, Lilli A. Köhn, Frank-Michael |
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| dewey-full | 332 |
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| discipline | Wirtschaftswissenschaften |
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| doi_str_mv | 10.1007/978-94-009-2185-6 |
| edition | 1st ed. 1990 |
| format | Electronic eBook |
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| series2 | Rochester Studies in Managerial Economics and Policy |
| spelling | Baumol, William Verfasser aut The Economics of Mutual Fund Markets: Competition Versus Regulation by William Baumol, Stephen M. Goldfeld, Lilli A. Gordon, Frank-Michael Köhn 1st ed. 1990 Dordrecht Springer Netherlands 1990 1 Online-Ressource (XIV, 242 p) txt rdacontent c rdamedia cr rdacarrier Rochester Studies in Managerial Economics and Policy 7 The original impetus for this research was provided several years ago by a request to assist Counsel for Fidelity Management and Research Corporation in analyzing the mutual fund industry, with particular emphasis on money market mutual funds. We were asked to focus our efforts on the mechanism by which the advisory fees of mutual funds are determined. This request arose out of litigation that challenged the level of advisory fees charged to the shareholders of the Fidelity Cash Reserve Fund. Subsequently, we were asked to provide similar assistance to Counsel for T. Rowe Price Associates regarding the fees charged to shareholders of their Prime Reserve Fund. 1940, advisers of Under the Investment Company Act of mutual funds have a fiduciary duty with respect to the level of fees they may charge a fund's shareholders. Since the passage of the Investment Company Act, there have been numerous lawsuits brought by shareholders alleging that advisory fees were excessive. In these lawsuits, the courts have failed to provide a set of standards for determining when such fees are excessive. Instead, they have relied on arbitrary and frequently ill-defined criteria for jUdging the reasonableness of fees. This failure to apply economic-based tests for evaluating the fee structure of mutual funds provided the motivation for the present book, which undertakes a comprehensive analysis of the economics of the mutual fund industry Finance, general Industrial Organization Macroeconomics/Monetary Economics//Financial Economics Finance Industrial organization Macroeconomics Regulierung (DE-588)4201190-5 gnd rswk-swf Investmentfonds (DE-588)4114047-3 gnd rswk-swf USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Investmentfonds (DE-588)4114047-3 s Regulierung (DE-588)4201190-5 s DE-604 Goldfeld, Stephen M. aut Gordon, Lilli A. aut Köhn, Frank-Michael aut Erscheint auch als Druck-Ausgabe 9789401074797 Erscheint auch als Druck-Ausgabe 9780792390435 Erscheint auch als Druck-Ausgabe 9789400921863 https://doi.org/10.1007/978-94-009-2185-6 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Baumol, William Goldfeld, Stephen M. Gordon, Lilli A. Köhn, Frank-Michael The Economics of Mutual Fund Markets: Competition Versus Regulation Finance, general Industrial Organization Macroeconomics/Monetary Economics//Financial Economics Finance Industrial organization Macroeconomics Regulierung (DE-588)4201190-5 gnd Investmentfonds (DE-588)4114047-3 gnd |
| subject_GND | (DE-588)4201190-5 (DE-588)4114047-3 (DE-588)4078704-7 |
| title | The Economics of Mutual Fund Markets: Competition Versus Regulation |
| title_auth | The Economics of Mutual Fund Markets: Competition Versus Regulation |
| title_exact_search | The Economics of Mutual Fund Markets: Competition Versus Regulation |
| title_exact_search_txtP | The Economics of Mutual Fund Markets: Competition Versus Regulation |
| title_full | The Economics of Mutual Fund Markets: Competition Versus Regulation by William Baumol, Stephen M. Goldfeld, Lilli A. Gordon, Frank-Michael Köhn |
| title_fullStr | The Economics of Mutual Fund Markets: Competition Versus Regulation by William Baumol, Stephen M. Goldfeld, Lilli A. Gordon, Frank-Michael Köhn |
| title_full_unstemmed | The Economics of Mutual Fund Markets: Competition Versus Regulation by William Baumol, Stephen M. Goldfeld, Lilli A. Gordon, Frank-Michael Köhn |
| title_short | The Economics of Mutual Fund Markets: Competition Versus Regulation |
| title_sort | the economics of mutual fund markets competition versus regulation |
| topic | Finance, general Industrial Organization Macroeconomics/Monetary Economics//Financial Economics Finance Industrial organization Macroeconomics Regulierung (DE-588)4201190-5 gnd Investmentfonds (DE-588)4114047-3 gnd |
| topic_facet | Finance, general Industrial Organization Macroeconomics/Monetary Economics//Financial Economics Finance Industrial organization Macroeconomics Regulierung Investmentfonds USA |
| url | https://doi.org/10.1007/978-94-009-2185-6 |
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