"Ray Russell has produced an excellent practical guide to the world of mutual funds; easy to read, it will appeal to those who take a keen personal interest in investment as well as providing a handy reference book to all who work in the industry." --Clive Shelton, Director, International Financial Data Services, Deputy Chairman, PIMA (Pep & ISA Managers Association) and member of the Examination Board of the Securities and Investment Institute. Most individuals lack substantial wealth or enough wealth to invest their personal funds practically and at low-risk directly into stocks and shares. Equally, most people lack the professional expertise and knowledge of economics, business, markets and individual companies to identify which are worth investing in. In addition, keeping track of a personal portfolio, and with keeping an eye on taxation opportunities and obligations, can be very confusing, especially in the current global investment climate. Mutual Funds offer a solution via a form of collective investment. The objective of this guide is to explain what mutual funds are, how they have developed and how they are used, regulated and administered across the globe. Both open-ended and closed-ended funds are described and the differences between the international markets, particularly USA, Europe and UK are addressed. The material reflects the growth and importance across the globe of mutual funds as a means of investing in worldwide economic development, whether to build a fund for retirement or otherwise. It provides the reader with a basic appreciation of Mutual Funds in their many forms, advocating the use of the mutual fund as a sensible, efficient and ultimately rewarding means of investment. It covers the origins, purpose, development, uses, operation and regulation of mutual funds and draws attention to similarities and differences between major jurisdictions, commenting on their unique features and approaches. As part of the SII CPD Scheme, reading relevant financial publications earns members of the Securities and Investment Institute the appropriate number of CPD hours under the Self-Directed learning category. For further information, please visit www.sii.org.uk/cpdscheme.weiterlesen