Mutual Funds and Exchange-Traded Funds: Building Blocks to Wealth offers a synthesis of the theoretical and empirical literature primarily on mutual funds but also discusses related investment vehicles, especially ETFs. In this edited volume, noted scholars and practitioners write chapters in their areas of expertise. It interweaves the contributions of multiple authors into an authoritative overview of important but selective topics. Readers will gain an in-depth understanding of mutual funds and ETFs from experts from around the world. Based on research-based evidence, this is not intended to be a <"how to>" book; instead, it is a scholarly and in-depth approach to important investment subjects. Although the book places greater attention on these different types of investments in the United States, it also examines them in a global context.
In today's financial environment, mutual funds and ETFs are dynamic areas that continue to evolve at a rapid pace. Because the flow of materials on the subject is voluminous, this book, by necessity, must be selective because it cannot cover every aspect of this field. However, readers can gain important insights about each investment vehicle including its structure and uses, performance and measurement. Beyond these core topics and issues, the book also examines the latest trends, cutting-edge developments, and real-world situations. Given its broad scope, this practical and comprehensive book should appeal to investors, investment professionals, academics, and others interested in mutual funds and ETFs. In particular, this book should help investors make key asset allocation decisions while capturing the benefits of a highly diversified, well-constructed, lower-cost portfolio of complementary strategies that enhance financial wealth.
PART ONE BACKGROUND
1. Mutual Funds and Related Investment Vehicles: An Overview
H. Kent Baker, Greg Filbeck, and Halil Kiymaz
2. The Economics of Mutual Funds: Rewards and Risks
David M. Smith
3. The Role of Mutual Funds in Retirement and Education Savings
Sarah A. Holden
4. The Structure and Regulation of Mutual Funds
Robert Grohowski and Sean Collins
PART TWO MUTUAL FUNDS AND OTHER FUND
5. Open-End Funds
Conrad S. Ciccotello
6. Target Date Funds and Other Funds of Funds
Alistair Byrne and Trevor Oliver
7. Closed-End Funds
Z. Jay Wang
8. Non-U.S. Closed-End Funds
Dimitris Andriosopoulos, Mary Fletcher, and Andrew Marshall
9. Exchange-Traded Funds
Ehsan Nikbakht, Keith Pareti, and Andrew C. Spieler
10. Leveraged and Inverse Exchange-Traded Funds
Benjamin Aguilar, Michael Bianco, Christopher Milliken, and Andrew C. Spieler
PART THREE CLASSIFICATION OF FUNDS BY PRINCIPAL INVESTMENTS
11. Money Market Mutual Funds
Anna Agapova
12. Bond Mutual Funds
Sandeep Singh
13. Stock Mutual Funds
Grady Perdue
14. Socially Responsible Mutual Funds
Eddy Junarsin, Enrico Libert, and Frendy
15. Mutual Funds: Management Styles, Social Responsibility, Performance, and Efficiency
Tamas Barko and Luc Renneboog
PART FOUR ASSET ALLOCATION AND PERFORMANCE OF MUTUAL FUNDS
16. Strategic Asset Allocation and Rebalancing
Laura Andreu and José Luis Sarto
17. Building and Monitoring Mutual Fund Portfolios
Larry J. Prather, Han-Sheng Chen, and Ying-Chou Lin
18. Analyzing Mutual Funds
Bruce A. Costa and Keith Jakob
19. Predicting Mutual Fund Performance
Matthew R. Morey
20. Evaluating Mutual Fund Performance within Stochastic Discount Framework
Jonathan Fletcher
21. Mutual Fund Risk
Roberto Savona, Oreste Auleta, and Flippo Stefanini
PART FIVE FUND STRUCTURE
22. Organization, Structure, and Services of Mutual Funds
Mark Potter
23. Selected Topics in Mutual Fund Distribution
John A. Haslem
24. Mutual Fund Disclosure and Related Fund Investor Protection Features
Joseph A. Franco
25. New Developments in Exchange-Traded Funds
Ojwang' George Omondi
26. Ethical Standards in Mutual Funds
Rosa Adamo
PART SIX MUTUAL FUNDS WORLDWIDE
27. Mutual Funds in Emerging and Developing Markets
Parvez Ahmed
28. Performance of Global Mutual Funds
Tarik Bazgour, Laurent Bodson, and Danielle Sougné
29. Performance of ETFs
Panagiotis Schizas
30. Issues, Trends, and Future Developments in the Mutual Fund Industry
Hunter M. Holzhauer