Exchange Traded Funds Structure, Regulation and Application of a New
The organization of traditional mutual funds as Exchange Traded Funds (ETFs) produced revolutionary changes in the fund industry. These changes, and the subsequent events to which they led, have greatly - creased the practical way of trading funds. Tradit
- PDF / 1,810,252 Bytes
- 257 Pages / 439.37 x 666.142 pts Page_size
- 85 Downloads / 167 Views
Structure, Regulation and Application of a New Fund Class
Elisabeth Hehn Editor
Exchange Traded Funds Structure, Regulation and Application of a New Fund Class With 44 Figures and 70 Tables
12
Dr. Elisabeth Hehn Eichhofweg 1 6318 Walchwil Switzerland [email protected]
Cataloging-in-Publication Data Library of Congress Control Number: 2005924632
ISBN 3-540-24124-8 Springer Berlin Heidelberg New York This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer-Verlag. Violations are liable for prosecution under the German Copyright Law. Springer is a part of Springer Science+Business Media springeronline.com ° Springer Berlin ´ Heidelberg 2005 Printed in Germany The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Hardcover-Design: design & production, Heidelberg SPIN 11369097
43/3153-5 4 3 2 1 0 ± Printed on acid-free paper
Preface
The organization of traditional mutual funds as Exchange Traded Funds (ETFs) produced revolutionary changes in the fund industry. These changes, and the subsequent events to which they led, have greatly increased the practical way of trading funds. Traditional mutual fund markets were fragmented, and transactions were both costly and from time to time difficult to arrange. Investments in emerging markets for example were anything but efficient. As a consequence of establishing ETF funds market segments, the efficiency of transactions has been broadly increased as well as transaction costs dramatically reduced. All this changed in the early Nineties with the introduction of the first ETF for the purpose of trading funds. Exchange Traded Funds – Structure, Regulation and Application of a New Fund Class is a comprehensive summary of articles covering all aspects of the Exchange Traded Fund industry. Similar to several publications of the last few years this book includes articles form academia as well as the banking, investment, and insurance industry, this combining theoretical evolution and practical implementation of Exchange Trades Funds. The present book is divided into four parts: The opening part, containing ETFs – A Leading Financial Innovation and From Continent to Sectors: Challenges and Uses of ETFs in Europe, is designed to give the reader broad insight into the industry, developments and trends. Further, the article Spiders: Where Are the Bugs? examine the characteristics and performance of these instruments from a
Data Loading...
