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Special Report on

Closed-End Fund Advisors

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We investigate marginal compensation rates in mutual fund advisory contracts and find the following. Equity and foreign fund advisors receive higher marginal compensation than debt and domestic fund advisors. Advisors of funds with greater turnover receive higher marginal compensation. Also, closed-end fund advisors receive higher marginal compensation than open-end fund advisors. Finally, we find that marginal compensation is lower for advisors of large funds and members of large fund families. We argue that these differences in marginal compensation reflect differences in advisor marginal product, differences in the difficulty ...
(buys and sells) the fund's investments in accordance with the fund's investment objective. In the U.S., a fund registered with the Securities and Exchange Commission (SEC) under both SEC and Internal Revenue Service (IRS) rules must distribute nearly all of its net income and net realized gains from the sale of securities (if any) to its investors at least annually. Most funds are overseen by a board of directors or trustees (if the U.S. fund is organized as a trust as they commonly are) which is charged with ensuring the fund is managed appropriately by its investment adviser and other service organizations and ...
DoubleLine Partnership With Grail A Huge Win – Bill Thomas, CEO ...
Active ETFs | In Focus spoke in-person with Bill Thomas, who is the CEO of Grail Advisors. Grail currently has 7 actively-managed ETFs on the market and just recently announced a partnership with DoubleLine Capital, which is lead by the respected fixed-income manager – Jeffery Gundlach. Bill talks to us about their new partnership, Active ETF disclosure, prospects for mutual fund conversions. Click here to see the full video interview. Alternatively, find the transcript of the interview below. Shishir Nigam – ActiveETFs | InFocus: The Active ETF space in the US has seen lots of action since the last time we chatted. How do you ... market research, surveys and trends
Dragon shareholders vote against plan to shut funds | Vietnam ...
Shareholders in two funds valued at $636 million run by Dragon Capital Group Ltd, Vietnam’s second- largest investment firm, on Monday voted down with a large majority a proposal to close them. At the Vietnam Enterprise Investments Ltd (VEIL) fund’s annual general meeting (AGM), 83.2 percent of shareholders and proxy voters said the fund should remain open, according to an announcement made by the company to the London stock exchange Monday. At the AGM of the other fund belonging to the group � the Vietnam Growth Fund Ltd (VGF), an even greater majority of 89.2 percent opposed a resolution to close the fund, the ... market research, surveys and trends


Vol IV, No. 3 (May/June 2004) - The Scott Letter: Closed-End Fund ...
managed approximately USD 324 billion for institutions and individuals worldwide . ..... percent), and opinion is divided on whether the Central Bank will be able to continue .... Published by Closed-End Fund Advisors, Founded 1989 ... industry trends, business articles and survey research
Rich Wire : Richmond BizSense
June 13, 2010- Doswell, VA–Challenge Discovery, the most innovative high ropes, low ropes and team building organization on the east coast, hosted the 2010 Capital One intern class last week and demonstrated how integral team building exercises are to employee performance, satisfaction and retention. A hot June day finds 38 Capital One interns at their second day on the job wearing shorts, t-shirts, bug spray and climbing harnesses. This cream of the crop intern class hails from all over the US and represents some of the brightest IT, finance and branding undergraduate minds around. In one year they’ll be joining the ... industry trends, business articles and survey research
FAF Advisors, Inc. Announces Financial Positions for Closed-End Funds
MINNEAPOLIS, Jul 15, 2010 (BUSINESS WIRE) -- FAF Advisors, Inc. today announced the financial positions for the following closed-end funds for the month of June 30, 2010. Net investment income and distribution information for the month ended June 30, 2010: Fund Symbol Common Preferred Net Accumulated Monthly Distributions Investment Undistributed Distributions (a) During Income/ (Distributions ... market trends, news research and surveys resources
Wells Fargo Advantage Funds(R) and Evergreen Funds Complete Merger
SAN FRANCISCO, Jul 20, 2010 (BUSINESS WIRE) -- Wells Fargo Funds Management, LLC, announced today the completion of fund mergers and reorganizations that effectively unifies the mutual fund families of Wells Fargo & Company and the former Wachovia Corporation. The combination of the Wells Fargo Advantage and Evergreen Fund families positions Wells Fargo Advantage Funds as the eleventh-largest fund family in the United States, with $224.1 billion in assets under management (combined assets as of May 31, 2010)(1). The consolidation was the final step in Wells Fargo Funds ... market trends, news research and surveys resources


The Scott Letter: Closed-End Fund Report©
Note: George Cole Scott and clients of Closed-End Fund Advisors own shares of Lazard .... Scott Letter Online is copyrighted to Closed-End Fund Advisors. ... technology research, surveys study and trend statistics
Investment Company Registration and Regulation Package
This Investment Company Registration and Regulation Package (“Package”) contains general information about investment companies ( e.g ., mutual funds, closed-end funds, and unit investment trusts) and supersedes the “Investment Company Registration Package” that was previously distributed in a printed format. Due to continuous changes in the federal securities laws, we no longer print the Investment Company Registration Package in hard copy. All of the information that was contained in the prior version, however, is now available through hyperlinks to Internet web sites, which are provided below. ... technology research, surveys study and trend statistics
An Agency Explanation of the Closed-End Fund Puzzles
The life-cycle of a closed-end fund can be characterized by five main empirical ... Grinblatt and Titman (1989) argue that when fund advisors have adverse ...
Google Answers: The Madison Fund
I currently have shares of a fund called the Madison Fund, dated 1964. I believe this was one of the original closed-end funds. I can't seem to find any information about it and how to cash in on my shares. Does it still exist or what happened to it? Dear traymick-ga; Thank you for allowing me to answer your interesting question. According to Eugene DeStaebler, Vice-President of Closed-End Fund Advisors, Inc., the Madison Fund no longer exists: ?If a fund cannot retain a large portion of their distributions, it can become uneconomic to operate. These are big issues for smaller funds which are not a part of ...
future of mutual fund ditribution | LinkedIn Answers | LinkedIn
I am not sure I can provide you with the info that you don't already know, but I will give it my best shot. The name of the game now is ETFs rather than mutual funds. I remember the days when one could make a living selling front ent, back end and level loaded mutual funds. Given that most mutual funds failed to beat corresponding indices for years, ETFs is the new game in town with razor-thin expense ratio, ease of entry and exit intra day, and, in some cases, no commissions. Charles Schwab & Co. is growing its offering of no-commission ETFs for advisors that use their platform as well as their retail customers. Retail ...