Chapter Overview
     • Types of Investment Companies
     • Mutual funds:
        • Functions
        • Investment styles and policies
        • Investment costs
        • Performance
        • Sources of information
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                   Chapter Overview
     • https://www.ilsole24ore.com/art/finanza-e-m
        ercati/2018-10-02/-borse-come-robot-trader-
        cavalca-il-populismo--212907.shtml?uuid=AEI
        R0KFG
     • https://it.wikipedia.org/wiki/Fondo_comune_
        di_investimento
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             Investment Companies
                                (1 of 2)
     • Pool funds of individual investors and invest in 
        a wide range of securities or other assets
     • Services provided:
        • Record keeping and administration 
        • Diversification and divisibility
        • Professional management
        • Lower transaction costs
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                                       MARCUS
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                     Net Asset Value
     • Net Asset Value (NAV):
     • Calculation:
                Market Value of Assets - Liabilities
                         Shares Outstanding
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               Investment Companies: 
                Unit Investment Trusts
                                                Unit Investment 
                                                      Trusts
                          Investment                Managed 
                          Companies                Investment 
                                                   Companies
                                                      Other 
                                                   Investment 
                                                  Organizations
  • The portfolio that is fixed for the life of the fund.
      • Unmanaged
      • Declined from $105 billion (1990) to $94 billion (2016)
                                                INVESTMENTS | BODIE, KANE, 
                                                MARCUS
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