Mutual Funds, Insurance, and Pension Funds
Abstract
Mutual funds, insurance, and pensions funds are major financial intermediaries. Mutual funds represent the second-largest pool of private capital in the world after the banking industry. Mutual funds are classified into open-ended, closed-end, and unit investment trusts. The main categories of funds are stock or equity funds, bonds or fixed-income funds, money market funds, and hybrid funds. The insurance industry is basically classified as life and property insurance. The two main types of life insurance are term and permanent life insurance. There are also other life insurance products such as group life insurance, credit life insurance, annuity and pension plans. Property/casualty ...
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