An Introduction to Mutual Funds Worldwide

PREFACE

This introductory guide seeks to reflect the growth and importance across the globe of mutual funds as a means of investing in worldwide economic development, whe ther to build a fund for retirement or otherwise.

My aim has been to provide the reader with a basic appreciation of mutual funds in their many forms, in the hope that, apart from proving a useful reference, it will stimulate further exploration of the subject and encour-age still greater appreciation, advocacy and use of the mutual fund as a sensible, efficient and ultimately rewarding means of investment, suitable for the vast majority of people.

The guide covers the origins, purpose, development, uses, operation and regulation of mutual funds and, where appropriate, draws attention to similarities and differences between major jurisdictions, commenting on their unique features and approaches, if any.

I am indebted to the industry's trade bodies, statistical firms and regulatory authorities for placing so much helpful material on their web-sites, sources that I heartily commend to any serious student or potential investor.

Neither the publishers nor I accept any responsibility for actions, claims or losses arising out of the use of information contained in this guide.

All rights to the material are reserved.

Ray Russell

London, October 2006