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THE FUND'S MANAGEMENT
Learn even more about this topic with the Encyclopedia of Personal Finance™

The chapter of a mutual fund prospectus that describes the fund's management includes the board of directors, the advisor, the portfolio managers, the transfer agent, and the distributor.

The role of the board of directors is stated briefly.

? The advisor makes investment decisions. The advisor section spells out in detail what the advisor does. It also provides the advisor's mailing address and the name of the controlling shareholder of the advisor.

? The prospectus describes the portfolio managers. Each manager is briefly profiled with his or her educational and work history. Some managers manage more than one fund.

? The transfer agent, who disburses dividends, is identified. In many funds, the transfer agent is also the advisor. This part of the management chapter also describes how the transfer agent is compensated for its services.

? The distributor, who distributes shares to investors, is identified. In some funds, the distributor is related to the advisor.

Next, we will discuss one of the bigger concerns that investors have?fees and expenses?and where to find them mentioned in the prospectus.




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