An Introduction to Investment Companies
As with our first volume, we believe that it is appropriate to begin this volume with an overview of the Investment Company Act of 1940 and the 1950 amendments to that act. This legislation controls the activity of closedend and open-end investment companies. Those readers who are familiar with these acts may wish to go directly to Chapter 2. Investment companies are the dominant vehicles for channeling the savings of U.S. investors into financial assets, here and abroad. As of January 2000, the amount of assets under management by these organizations was estimated to be $12 trillion, or about $50,000 for every man, woman, and child in the United States.
KeywordsCapital Gain Financial Asset Equity Capital Investment Company Interest Income
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