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The Rise of Mutual Funds: An Insider's View, 2nd Edition

The Rise of Mutual Funds: An Insider's View, 2nd Edition

Author: Matthew P. Fink
Publisher: Oxford University Press USA
ISBN: 9780199753505
Published In: January 2011
Format: Paperback , 360 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Fink discusses events that have not been covered in other works and presents new theories.
Fink was personally involved in all of the major events mentioned since 1971. He writes not just as an historian, but also as a participant.
Paperback includes 20% new material including a new chapter on the 2008 financial crisis.

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.

Readership: The primary audiences are the financial press, general readers with an interest in finance or American economic history, and individuals who work in the mutual fund industry, estimated at some 146,000 individuals. These include officers and employees of mutual fund companies, mutual fund independent directors, and officers and employees of firms that provide services to mutual funds including law firms, accounting firms, custodians, and transfer agents. Additional audiences include individuals who work in other segments of the financial services industry (broker-dealers, banks, insurance companies, etc.), academics, and students in areas such as finance and securities law.

Preface
Introduction
Chapter 1 Beginning the Foundation
Chapter 2 Completing the Foundation: The Investment Company Act
Chapter 3 Early Development
Chapter 4 Responding to the Bear Market: Money Market Funds
Chapter 5 Other Responses to the Bear Market
Chapter 6 The Revolution in Retirement Plans
Chapter 7 Reentry of Securities Firms and Banks
Chapter 8 Responding to Fund Growth: Calls for New Types of Regulation
Chapter 9 Modernizing SEC Regulation
Chapter 10 Updating Other Regulation
Chapter 11 The Trading Scandals
Chapter 12 The 2008 Meltdown
Chapter 13 Work of a Trade Association
Chapter 14 Looking Back, and Ahead
Notes
Bibliography
Index