The Management of Mutual Funds (eBook)

G.V. Satya Sekhar (Autor)

eBook Download: PDF

2016 | 1st ed. 2017
X, 180 Seiten
Springer International Publishing (Verlag)
978-3-319-34000-5 (ISBN)

Infos

This book provides insight into the multi-dimensional process of coordinating and supervising mutual funds. This book focuses on the management of mutual funds within financial markets, with an emphasis on how corporate governance and benchmarking influence asset and portfolio management. Chapters explore four important aspects of this process in particular detail: corporate governance, benchmarking, asset management and portfolio management. The author shows that the mutual fund industry provides wider access to payment systems and to a savings safety-net that operates similarly to deposit insurance. Furthermore, he demonstrates that the Indian government's focus is on establishing the right of every person to have access to affordable basic financial services offered by banks and non-banks. 

Dr G.V. Satya Sekhar is the Coordinator of the MBA programme offered through the Centre for Distance Learning at GITAM University, India. He has 18 years of teaching and research experience and has published 35 articles and five textbooks on topics such as mutual funds, strategic financial management and financial engineering. He is a member of the editorial advisory boards of various international and national journals, and has also presented research papers in his field.

Inhalt

Contents 5
List of Figures 7
List of Tables 8
1: Introduction 10
1 Background 10
2 How Mutual Funds Work 12
2.1 Organization of a Mutual Fund 13
3 Type of Schemes in Mutual Funds 15
3.1 Risk Factors of Investments in Mutual Funds 16
4 Historical Background of Global Mutual Funds 17
5 The Arrival of the Modern Fund 18
6 History of the Mutual Fund Industry in India 20
6.1 Phase I (1964–1987) –Establishment of UTI 20
6.2 Phase II (1987–1993) Entry of Public Sector Funds 21
6.3 Phase III (1993–2003): Entry of Private Sector Mutual Funds 24
6.4 Phase IV (Since February 2003) 26
7 Latest Position in Mutual Funds (2005–2015) 27
8 Benefits of Mutual Funds 30
9 Constitution of Mutual Funds 31
9.1 Portfolio Classification 33
9.1.1 Geographical Classification 34
9.1.2 Others 34
10 Operational Efficiency of Mutual Funds 37
11 Regulation of the Global Mutual Fund Industry 39
11.1 Role and Responsibilities in the European Context 41
12 Role and Responsibilities of the IMF 42
13 Summary 43
2: Review of Literature 45
1 Corporate Governance 45
2 Benchmarking 48
3 Asset Management 51
4 Portfolio Management 52
5 Studies of Evaluation Models 56
6 Fund Manager Style 65
3: Corporate Governance 68
1 Introduction 68
2 Measures for Good Corporate Governance 69
3 Global Corporate Governance Practices 70
3.1 Australia 70
3.2 Canada 71
3.3 Denmark 73
3.4 England, United Kingdom 73
3.5 France 75
3.6 Germany 76
3.7 Hungary 77
3.8 New Zealand 77
3.9 Scotland 78
4 Regulation of the Investment Fund Industry in Asia 78
4.1 Indonesia 79
4.2 Bhutan 79
4.3 Korea 81
4.4 Malaysia 81
4.5 Philippines 82
4.6 Singapore 82
4.7 UAE 82
4.8 China 83
4.9 Thailand 84
4.10 India 84
5 Role of Securities Exchange Board of India (SEBI) 85
5.1 Securities Lending by Mutual Funds 86
5.2 Participation by Mutual Funds in Derivative Trading 87
6 SEBI Guidelines During 2007–2008 87
7 SEBI Guidelines, 2009 88
8 Role of Association of Mutual Funds in India (AMFI) 92
9 AMFI Guidelines and Norms for Intermediaries (AGNI) 93
10 Conclusion 100
4: Benchmarking 101
1 Introduction 101
2 Relevance of Benchmark in Investing in Mutual Funds 104
3 Benchmark Returns 104
4 Analysis of Select Mutual Funds 105
5 Benchmark Mutual Fund in India 105
6 Performance Comparison with Benchmark Funds—India 106
6.1 Performance Analysis 112
7 Summary 113
5: Asset Management 114
1 Introduction 114
2 Recent Status of Global Asset Management 115
3 Asset Management Industry in Asia 119
4 Case Study of HDFC AMC, India 122
4.1 Changes to the MSMF Schemes 122
4.2 Risk Management at HDFC AMC Limited 123
4.3 Fund Templates: Risk Control Measure 124
5 Profile of Standard Life Investments Limited 125
5.1 Investment Management Process at Standard Chartered AMC Pvt Ltd. 127
6 Asset Management—Select Schemes 129
7 Sectoral Allocation Pattern: A Select Schemes Study in India 132
8 Summary 133
Appendix 1 Management of HDFC Asset Management Company Limited 133
Appendix 2 Equity Circle: Equity Investment Process of SCMF 134
Appendix 3 Emerging Markets: Mutual Funds 135
Appendix 4 List of the Asset Management Companies, India 136
6: Portfolio Management 137
1 Introduction 137
1.1 Portfolio Management Myths 139
2 Overview of a Select Equity Oriented Funds in India 143
3 Portfolio Management and Analysis of Select Schemes 147
4 Summary 152
7: Role of the Fund Manager 153
1 Introduction 153
2 Empirical Studies on Fund Manager Style 154
3 Genesis of Management Style 156
4 Growth of Mutual Funds—Global View 158
5 Mutual Funds in India: 2015 160
6 Attributes—Check List for Fund Managers 160
7 Board of Director’s Role in Organizing Mutual Funds in India 163
7.1 Meaning of “Sound” Track Record 164
7.2 How to Measure a “Sound” Track Record 164
7.3 Launching a Scheme 165
8 SEBI Guidelines Relating to Management of Mutual Funds 166
9 Summary 169
Appendix: Challenges Faced by Global Financial Markets, 1987–2007 170
Bibliography 173
Chapter-2 176
Chapter-4 176
Chapter-5 177
Chapter-6 178
Index 179

Produkt-Details

• Erscheint lt. Verlag: 12.11.2016
• Zusatzinfo: X, 180 p. 51 illus.
• Verlagsort: Cham
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Schlagworte: Asset Management • Benchmarking • Capital Markets • Corporate Governance • Household finance • Investment • Investments and Securities • liquidity • Portfolio Management
• ISBN-10: 3-319-34000-X / 331934000X
• ISBN-13: 978-3-319-34000-5 / 9783319340005