The rise of mutual funds : an insider's view

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Title:

Author:

Fink, Matthew P.

ISBN:

9780199753505

Personal Author:

Fink, Matthew P.

Edition:

2nd ed.

Publication Information:

New York : Oxford University Press, 2011.

Physical Description:

xiii, 341 p. : ill., map ; 24 cm.

General Note:

"With full coverage of the 2008 crisis; second edition" -- Cover.

Contents:

Beginning the foundation -- Completing the foundation : the Investment Company Act -- Early development -- Responding to the bear market : money market funds -- Other responses to the bear market -- The revolution in retirement plans -- Reentry of securities firms and banks -- Responding to fund growth : calls for new types of regulation -- Modernizing SEC regulation -- Updating other regulation -- The trading scandals -- The 2008 meltdown -- Work of a trade association -- Looking back and ahead.

Subject Term:

Mutual funds -- History.

Copies:

Available:*

Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168025564192	332.6327 F499R 2011	1	Searching... Unknown

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Summary

In 1940 few Americans had heard of mutual funds. Today U.S. mutual funds are the largest financial industry in the world, with over 88 million shareholders and over $11 trillion in assets. New and updated to reflect the crash of 2008, Matthew Fink's latest book, The Rise of Mutual Funds: An Insider's View, Second Edition describes the developments that have produced mutual funds' long history of success. Among these developments are:* formation of the first mutual funds in the roaring 20s* how the 1929 stock market crash, a disaster for most financial institutions, spurred the growth of mutual funds* establishment in 1934, over FDR's objection, of the United States Securities and Exchange Commission, the federal agency that regulates mutual funds * enactment of the Revenue Act of 1936, the tax law that saved mutual funds from extinction* passage of the Investment Company Act of 1940, the "constitution" of the mutual fund industry* the creation in 1972 of money market funds, which totally changed the mutual fund industry and the entire U.S. financial system * enactment of the Employee Retirement Income Security Act of 1974, which created Individual Retirement Accounts* the accidental development of 401(k) plans, which have revolutionized the way Americans save for retirement* the 2003 trading abuses, the greatest scandal ever in the history of the mutual fund industry Many events have never been discussed in detail; others have been discussed in works on other subjects. This is the first book that pulls together the many strands of mutual funds' unique history, written by an expert who draws on forty years of personal experience in the fund industry.