This can cause so many buys and sells that the costs escalate and the fund
is disrupted, to the detriment of its long-term shareholders.
Thus, the fund
is not actively managed like funds
with specific fund
Spitzer alleged that several companies, including Bank of America Securities and Janus Capital Management, had questionable dealings with hedge fund
company Canary Capital Partners L.
These market timing or stale price trades inflict harm on existing investors in a fund
, who are normally small investors who simply buy and hold a fund
for the long term.
This endowment fund
was established by MTNA to honor Richard Chronister, who was both a leading expert and pioneer in the field of piano pedagogy.
While the Dow, S&P 500 and Nasdaq dropped 6, 9 and 39 percent, respectively, the average hedge fund
rose 8 percent.
Launched in 1971, it is the oldest social mutual fund
but is showing that it can still sizzle financially.
that don't track an index, or actively-managed funds
, average about 1 percent a year in expenses that customers pay, said Russell Kinnel, head of equity fund
research at Morningstar, a mutual fund
rating agency in Chicago.
Twenty-eight million mutual fund
accounts had been opened by 1984, and that number was rising every year.
The first category consists of those organized by one or more individuals with particular trading philosophies such as Soros Fund
Management, Tiger Management Corporation, and Steinhardt Management Company.
When shooting for absolute performance, a hedge fund
might sell short, use leverage, trade put and call options, trade futures and invest in emerging markets.