Cover -- Title Page -- Copyright -- Contents -- Foreword -- Preface to the Second Edition -- Acknowledgments -- Section 1 An Investor's Guide to Mutual Funds -- Chapter 1 Investing through Mutual Funds -- Advantages and Disadvantages of Mutual Funds -- History and Growth -- Regulators and Industry Associations -- Chapter Summary -- Notes -- Chapter 2 How Mutual Funds Work -- Buying and Selling Fund Shares -- The Pass-Through Tax Status of Mutual Funds -- A Virtual Corporation -- Ethical Standards -- Alternatives to Mutual Funds -- Chapter Summary -- Notes -- Chapter 3 Researching Funds: The User Guides -- Mutual Funds and Disclosure -- The Summary Prospectus -- Beyond the Summary Prospectus -- Using the User Guides -- Chapter Summary -- Notes -- Chapter 4 Comparing Mutual Funds -- Delineating Your Own Investment Objectives -- Evaluating Performance -- The Taxonomy of Mutual Funds -- Chapter Summary -- Notes -- Chapter 5 The Cost of Fund Ownership -- The Focus on Fund Expenses -- Distribution Expenses -- Operating Expenses -- The Management Fee -- The Active versus Passive Debate -- Chapter Summary -- Notes -- Section 2 Mutual Fund Portfolio Management -- Chapter 6 Portfolio Management of Stock Funds -- Stock Research -- Putting It All Together: Managing a Stock Fund -- Chapter Summary -- Notes -- Chapter 7 Portfolio Management of Bond Funds -- Bond Fund Holdings -- Putting It All Together: Managing a Bond Fund -- Chapter Summary -- Notes -- Appendix to Chapter 7 Funds and Derivatives -- Uses of Derivatives in Funds -- Regulation of Derivatives in Funds -- Notes -- Chapter 8 Portfolio Management of Money Market Funds -- Money Market Funds and the Financial System -- Rule 2a-7 -- Money Market Fund Holdings -- Putting It All Together: Managing a Money Market Fund -- Chapter Summary -- Notes.

Chapter 9 Implementing Portfolio Decisions: Trading -- The Importance of Trading -- The U.S. Stock Markets -- The Role of the Mutual Fund Trader -- Trading in Bond Funds -- Chapter Summary -- Notes -- Chapter 10 Mutual Funds as Stockholders -- Mutual Funds and the Proxy Voting Process -- Proxy Voting by Mutual Funds -- Activism and Mutual Funds -- Current Issues in Proxy Voting -- Proxy Voting Outside the United States -- Chapter Summary -- Notes -- Section 3 Sales and Operations -- Chapter 11 Retail Distribution -- What Sells Mutual Funds? -- Distribution Channels -- Fund Platforms -- Distribution Strategy -- Chapter Summary -- Notes -- Chapter 12 Retirement Saving through 401(k) Plans -- The Benefits of Tax-Deferred Saving -- History and Growth of 401(k) Plans -- Contributions to 401(k) Plans -- Investment Options in 401(k) Plans -- Target Date Funds -- Plan Administration -- Chapter Summary -- Notes -- Chapter 13 Other Retirement Planning Options -- Individual Retirement Accounts -- Variable Annuities -- The Future of Retirement Income in the United States -- Chapter Summary -- Notes -- Chapter 14 Fund Operations -- The Transfer Agent -- Fund Accounting -- Investment Operations -- Chapter Summary -- Notes -- Section 4 Beyond Traditional Funds -- Chapter 15 Exchange-Traded Funds -- A Brief History -- Advantages and Disadvantages -- Legal Structure -- Operations -- Portfolio Holdings -- The Future of ETFs -- Chapter Summary -- Notes -- Chapter 16 Hedge Funds -- Traditional Hedge Funds -- Traditional Hedge Fund Investors -- The New Hedge Funds: Liquid Alternatives -- Chapter Summary -- Notes -- Section 5 The Internationalization of Mutual Funds -- Chapter 17 Cross-Border Investing -- The Growth in Cross-Border Investing -- Advantages and Risks of Investing Overseas.

Operational Challenges of Investing Overseas -- Putting It All Together: Managing a Global or International Fund -- Chapter Summary -- Notes -- Chapter 18 Cross-Border Asset Gathering -- The Global Market for Investment Funds -- Models for a Global Fund Business -- The UCITS Model -- Chapter Summary -- Notes -- Appendix to Chapter 18 Gathering Fund Assets through Retirement Plans -- Chile's Retirement System -- Singapore's Retirement System -- Notes -- About the Companion Website -- About the Authors -- Index -- EULA.