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Characteristics of Investment Companies

Chapter
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Part of the Innovations in Financial Markets and Institutions book series (IFMI, volume 18)

Abstract

Chapter 2 provides a brief overview of five types of investment companies: open-end funds, closed-end funds, unit investment trusts, exchange-traded funds, and hedge funds. The primary topics introduced are how investment companies are formed, how they are operated, and how their shares are bought and sold. The chapter also includes a brief treatment of the legal environment in which they operate.

Keywords

Open-end funds (mutual funds) Closed-end funds (CEFs) Unit investment trusts (UITs) Exchange-traded funds (ETFs) Hedge funds Initial public offerings (IPOs) Prospectus Discounts Creation units Limited partnerships 

Copyright information

© Springer Science+Business Media, LLC 2010

Authors and Affiliations

  1. 1.College of Business and Information ScienceTuskegee UniversityTuskegeeUSA
  2. 2.College of Business AdministrationNortheastern UniversityBostonUSA
  3. 3.University of North FloridaJacksonville FLUSA

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