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The program content provides an introduction to the business structure of a typical mutual fund with a focus on its supporting operational lifecycle and functions. The variety of mutual funds available to investors will be described and compared. Along with types of mutual funds, the program content includes definitions and characteristics of the various fund classes. Participants will understand how mutual funds are sold and distributed, including the calculation of sales charges and fees (such as 12b-1fees). Differentiation between those expenses allocated to the fund investors and the fund manager will be made. All the participants in the mutual fund industry, including the Fund Manager the Transfer Agent, the Fund Administrator, the Distributors, and the Custodian and the roles that they play will be thoroughly examined. Participants will become familiar with the services afforded to the mutual fund and brokerage communities through DTCC, in particular, fund/SERV and networking. The Lifecycle of a Mutual Fund trade, from its inception as an order through its settlements will be analyzed.
Course Objectives
By the end of the course, the participants will be able to:
- Identify the role and responsibility of the fund’s service providers, including custodians, transfer agents and administrators, fund accountants and providers of shareholder services
- Recognize interfaces required for underwriters/distributors/wholesalers/sales agents and identify investor types and motivations
- Describe the schematics of fund managers compensation programs
Suggested Prerequisites: None
Program Level: 201 – Foundational
Advance Preparation: None
Computers and Financial Calculators: N/A
Recommended CPE Credits: 7