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The Mutual Fund Industry: Competition and Investor Welfare Page 221 (245 of 252)
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The Mutual Fund Industry: Competition and Investor Welfare resources
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Index
abuses, mutual fund industry, 2–3 42, 194n30; overview of, 34–35; subadvisers
actively managed equity funds performance and, 193n17; subsequent court decisions
comparisons, 147, 148, 183, 184–185, 186 regarding, 44–45, 194n38. See also district
activity-based allocation of costs, 118–119 court decision, Gartenberg
advisory contracts market, 36, 193n15 arm’s-length bargaining, 28
Allianz NFJ Dividend Value fund, 87, 88 asset distribution: causation regarding, 205n34;
allocation of costs: activity-based, 118–119; price range and, 111–112, 205nn34–35
alternative based, 118; examples of, asset values by rates of return/years investing,
117–118; measurement of, 117–119 19
American Century Investments, 104–105 attributes: defi ned, 6; price competition and,
analytical framework, 160 6–7, 153; Wal-Mart example regarding, 153
anecdotal evidence, 152–153 auto industry market segments, 52–53
announced price, 6
annual redemption rates, 91, 94 back-end load fees, 151–152
appellate court decision, Gartenberg, 34–44; board of directors: confl ict of interest, 130,
on advisory contracts market, 36, 193n15; 208n2; excessive fees and, 22–23, 154–155;
arguments against, 36–37, 38–39, 41, regulation of, 154–155
43–44, 46; on competition among funds, Bogle, John, 126, 136–137, 208n3
35–37; competition rejection in, 24, bond funds: annual redemption rates, 91, 94;
193n24; competitively insignifi vs. money market funds, 95; number of, 83 cant fees
and, 37–38, 193n19; conclusions about, Broad Street complex, 133
46–47; cost-based theory of value and, Brown, Stuart B., 105–106, 199n1, 200n3,
43; on determining excessive fees, 39, 43, 202nn18–19, 202n22, 203n24, 209n12
46, 193n22; on fall-out benefi ts, 33, 41–42,
193n27; further economic issues raised by, Canada, price dispersion, 205n35
42–44, 194n28, 194n30; investment adviser cash balance plans, 14
replacement and, 38–39; on investor closed-end mutual funds, 188n9
mobility, 37–38; monopoly pricing and, Collins, Sean, 106, 203n24
