The 40Act states that the interests of shareholders are compromised when mutual funds are operated in the interest of fund advisers. In this regard, one of the Act's major objectives is to ensure investors receive adequate and accurate information. They do not. For this reason, Congress, the...

The revelations of major scandals in the mutual funds industry brought intense feelings of betrayal and financial loss to millions of fund shareholders whose assets were improperly and illegally appropriated. Shareholders need and deserve much greater protection and transparency of normative...

This study further develops and defines the concept of normative transparency of disclosure. As defined, mutual fund normative transparency is that fund proactive, voluntary disclosure as well as legal and regulatory disclosure required for investors to be able to make information efficient fund...

The Investment Company Act of 1940 states that the interests of shareholders are compromised when mutual funds are operated in the interest of fund advisers. In this regard, one of the Act's major objectives is to ensure that investors receive adequate and accurate information.This study focuses...

Despite recent turmoil in the financial markets, the mutual fund industry continues to be one of the extraordinary growth stories in the history of American financial markets. In 1984, net mutual fund assets totaled 370 million. Today, they are at 10.1 trillion. A major reason for their...

The nature of mutual funds / Conrad S. Ciccotello -- Mutual fund regulation and issues / Conrad S. Ciccotello -- The economics of mutual funds / David M. Smith -- Mutual fund fees and expenses / David M. Smith -- How financial markets work / Larry E. Swedroe -- Active versus passive investing /...

This study provides mutual fund shareholders with a normative listing of transparent and traditionally opaque fees and expenses designed for most all funds. The most likely next step, if any, would be for a few "stewardship funds" to adopt the normative listing of transparent and traditionally...

First, this study reviews Morningstar analytical grading measures used by investors to choose mutual funds. These measures include Morningstar star ratings, analyst ratings, total pillar ratings, upside and downside capture ratios, and stewardship ratings. Second, the study provides results of...

The 2003 mutual funds scandal that exploded upon the public revealed something that had long been known to insiders: Mutual fund advisers often approve and allow frequent trading, frequent trading arbitrage, and late trading arbitrage to selected traders. To increase adviser profits, fund...

First, this study reviews Morningstar analytical grading measures used by investors to choose mutual funds. These measures include Morningstar Star Ratings, Analyst Ratings, Total Pillar Ratings, Upside and Downside Capture Ratios, and Stewardship Ratings. Second, the study provides results of...