12 january 2017, 02:10
In 1980 in the United States in managing investment companies were $60 billion, 7 million investor accounts. In 1994, the total amount of investment of the company exceeds $2 trillion and the number of accounts has reached 80 million. According to rough estimates, these accounts hold about 33% of American families.
In the USA there are several types of investment companies among which the most common are the so-called managerial companies. These companies are joint-stock companies to invest in which can buying their shares. The shareholder receives an income in the form of dividends and interest on them and also due to the growth in value of these shares.
Management companies are divided into open-end investment company or mutual funds and closed-end investment companies or trusts closed. In Russia the analogue of the first are the mutual funds and the analog of the last - joint-stock investment funds, including Chiefs. The work of the American investment companies are regulated by the Law on investment companies of 1940, It provides the minimum amount of assets for both types of investment companies in $100 000.
Public companies mutual funds have the right to issue only ordinary shares, the income on which the investor cannot be determined in advance. It depends on the success of capital management Fund. Open-end investment companies undertake to redeem the issued shares from shareholders on demand. Therefore, these shares may be purchased only from the company and sold it the same. The value of shares of the Fund is determined based on the net asset value per 1 share.
Help. Under the net assets means the entire capital of the Fund minus its expenses already incurred or needs to happen in the near future. The net asset value of 1 share is determined by dividing the net assets of the Fund by the number of shares issued. The net asset value of mutual funds is calculated at least 1 time a day. The wall Street Journal publishes the net asset value per share of mutual funds the previous day.
In the United States, the most common mutual funds because you can always sell the Fund its shares in the long term, they have demonstrated higher than the yield on Bank deposits in addition information about their activities is fully open to investors. Below, after a General review of the investment companies we separately consider mutual funds.
Private companies trusts closed not obliged to redeem their shares from shareholders. You can sell them on the stock exchange and OTC stock market. Therefore, the price of these shares is not calculated by the company and is determined depending on demand and
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