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The Economics Of Mutual Fund Markets

RRP $24.99

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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.


The Economics Of Mutual Fund Markets

RRP $738.99

Click on the Google Preview image above to read some pages of this book!

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.


Mutual Aid And Union Renewal

RRP $256.99

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The ongoing decline in union membership is generally attributed to an increasingly hostile economic, legal, and managerial environment. Samuel B. Bacharach, Peter A. Bamberger, and William J. Sonnenstuhl argue that the decline may have more to do with a crisis of union legitimacy and member commitment. They further suggest that both problems could be addressed if the unions return to their nineteenth-century, mutual aid-based roots.

The authors contend that the labor movement is characterized by two models of union-member relations: the mutual aid logic and the servicing logic. The first predominated in the early days and encouraged a sense of community among members who worked to support one another. In the twentieth century, it was largely replaced by the servicing model, which asks little of members, who remain loyal only if their leaders deliver increasing wages and benefits.

Regaining legitimacy and strengthening member commitment can only happen, the authors claim, if mutual aid logic is allowed to return. They examine three unions in the transportation industry to judge the effectiveness of new programs created after the old model.


Microbiology Fundamentals

RRP $224.95

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Cowan's Microbiology Fundamentals: A Clinical Approach is The Perfect Fit to align with your course. Here's why:

  • The author team includes a practicing nurse to help students see how the content fits in their lives and relates to their future career on every page.
  • A briefer text means all core concepts are covered, but streamlined to better fit the length of your course.
  • A more modern, visual text and digital learning package fits with today's students and the way they learn.

Users who purchase Connect Plus receive access to the full online ebook version of the textbook.



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Silver Copper Uranium Mutual Fund

Mining Technology Australia