LEADER 04177nam 2200697Ia 450 001 9910781016403321 005 20200520144314.0 010 $a1-282-89785-3 010 $a9786612897856 010 $a0-231-52532-X 024 7 $a10.7312/hubb15182 035 $a(CKB)2550000000018592 035 $a(EBL)908293 035 $a(OCoLC)826476660 035 $a(SSID)ssj0000398808 035 $a(PQKBManifestationID)11311126 035 $a(PQKBTitleCode)TC0000398808 035 $a(PQKBWorkID)10374894 035 $a(PQKB)10038474 035 $a(DE-B1597)458955 035 $a(OCoLC)647929708 035 $a(OCoLC)979753936 035 $a(DE-B1597)9780231525329 035 $a(Au-PeEL)EBL908293 035 $a(CaPaEBR)ebr10387034 035 $a(CaONFJC)MIL289785 035 $a(PPN)233902260 035 $a(MiAaPQ)EBC908293 035 $a(EXLCZ)992550000000018592 100 $a20091210d2010 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 04$aThe mutual fund industry$b[electronic resource] $ecompetition and investor welfare /$fR. Glenn Hubbard ... [et al.] 210 $aNew York $cColumbia University Press$dc2010 215 $a1 online resource (252 p.) 225 0 $aColumbia Business School Publishing 300 $aDescription based upon print version of record. 311 $a0-231-15182-9 320 $aIncludes bibliographical references and index. 327 $tFrontmatter -- $tContents -- $tFigures -- $tTables -- $tForeword / $rMalkiel, Burton G. -- $tPreface -- $tIntroduction -- $t1. Mutual Fund Industry Growth and Importance in Retirement Plans -- $t2. Mutual Funds and Charges of Excessive Fees: The Historical Background -- $t3. Mutual Fund Excessive Fees and the Courts -- $t4. Price Competition and the Demand for Mutual Funds -- $t5. Mutual Fund Industry Structure and Indicators of Price Competition -- $t6. Mutual Fund Pricing, Excessive Fees, and Empirical Evidence -- $t7. Mutual Funds' Organizational Form and Conflicts of Interest -- $t8. What Have We Learned? -- $tAppendix to Chapter Four -- $tAppendix to Chapter Seven -- $tNotes -- $tBibliography -- $tIndex 330 $aMutual funds form the bedrock of retirement savings in the United States, and, considering their rapid growth, are sure to be more critical in the future. Because the size of fees paid by investors to mutual fund advisers can strongly affect the return on investment, these fees have become a contentious issue in Congress and the courts, with many arguing that investment advisers grow rich at the expense of investors. This ground-breaking book not only conceptualizes a new economic model of the mutual fund industry, but also uses this model to test for price competition between investment advisers, evaluating the assertion that market forces fail to protect investors' returns from excessive fees. Highly experienced authors track the growth of the industry over the past twenty-five years and present arguments and evidence both for and against theories of adviser malfeasance. The authors review the regulatory history of mutual fund fees and summarize leading case decisions addressing excessive fees.Revealing the extent to which the governance structure of mutual funds truly impacts fund performance, this book provides the best understanding of today's mutual fund industry and is a vital tool for investors, money managers, fund directors, securities lawyers, economists, and anyone concerned with the regulation of mutual funds. 410 0$aColumbia Business School Publishing 606 $aMutual funds$zUnited States 606 $aInvestment advisors$zUnited States 606 $aFinancial services industry$zUnited States 615 0$aMutual funds 615 0$aInvestment advisors 615 0$aFinancial services industry 676 $a332.63/27 700 $aHubbard$b R. Glenn, $0119121 701 $aHubbard$b R. Glenn$0119121 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910781016403321 996 $aThe mutual fund industry$93672838 997 $aUNINA