Introduction to Mutual Funds
June 3, 2013, NYC October 28, 2013, NYC
Early-bird Registration Fee: US$895.00 Register Location Instructor
($100 Early-bird Registration Discount Ends Sept. 28)
Beginner/Intermediate Level, 7 CPE Credits
Instructor: Stanley D. Monsowitz
Hours: 9:00 am - 5:00 pm; Registration/Breakfast begins at 8:30 am
In today’s ever challenging investment world, overtaken by Mutual Funds, Hedge Funds, ETF’s and other investment products, it is critical to have a good understanding of the Mutual Fund product, as it is the most widely held investment product in the U.S.
In this 1-Day program we will look at, and gain an understanding of, the structure and organization of Mutual Funds and all its service providers. We will look at all the various distribution channels and all the class of shares distributed in each distribution channel. We will discuss the various Fund classes in detail and look at examples of each class type. We will also discuss the similarities and differences between Mutual Funds, Hedge Funds, ETF’s and Closed End Funds. We will also discuss the various fee structures, by class of shares and distribution channel.
We will then end with a discussion of the appropriateness of the various classes of shares for each level of investor and discuss what may be more or less appropriate for each level of investor.
Course Objectives:
By the end of this 1-Day course the participants will be able to:
• Describe and explain the Mutual Fund industry structure
• Understand and be able to compare Open-end Mutual Funds with Closed-end Mutual Funds,
ETF’s, UIT’s and other investment products
• Understand why Mutual Funds are the biggest investment vehicle in the U.S.
• Identify the roles of all of the various Mutual Fund service providers for:
--Proprietary Funds
--Non-Proprietary Funds
• Explain the reporting requirements for Mutual funds
• Identify all the distribution channels for Mutual Funds and which Classes of Shares are
distributed in each channel
• Gain a detailed understanding of the various Classes of Shares and understand which
share class is appropriate for each investor
• Understand the reasons for the appropriateness of the various classes of shares for
each level of investor and discuss what may be more or less appropriate for each level
of investor.
Session 1: Overview of the Mutual Fund Industry
Throughout the course the participants will be introduced to a variety of terms. This terminology or glossary is discussed throughout the course. By the end of the session the course participant will be able to:
• Describe the organization of a Mutual Fund
• Identify and discuss various participants
--Fund Directors
--Investment Advisor
--Underwriters/Distributors/Wholesalers/Sales Agent
--Fund Administrator
--Fund Accounting and Financial Services
--Fund Transfer Agent and Shareholder Servicing
--Fund Custodian
--Fund Accountants & Lawyers
• Industry Growth
• Identify Fund Investment Types
--Appropriateness & Suitability
• Define and describe:
--A prospectus
--Blue Sky registrations
• Overview of Mutual Fund Regulations & Compliance
• List the various industry associations
Session 2: Understanding the various Distribution Channels
By the end of the session the course participant will be able to:
• Identify and describe the various Distribution Channels for Mutual Funds
• Define and explain account liquidation and the corresponding operational issues
• Understand the flow of information and monies through the various Distribution Channels
Session 3: Classes of Shares and their appropriateness for investors
By the end of the session the course participant will be able to:
• Identify and contrast the following:
--A Shares
--B Shares
--C Shares
--Y Shares
--Z Shares
--Institutional Shares
--Others
Session 4: Final Review
• Final Discussions & Questions
• Review Glossary