As the third-smallest mutual
in Tennessee, the niche carrier primarily writes properties valued under $75,000.
0 trillion in mutual
funds, according to Investment Company Institute.
Spitzer, who launched the first mutual
fund investigations in early September, has been quoted saying the scandal is bigger than just "excising a few bad apples from the industry," suggesting that improper short-term trading may have skimmed more than $4 billion a year from investors.
financial system, mutual
funds had been almost entirely spared the bad headlines and lawsuits--that is, until September 2003, when New York State Attorney General Eliot Spitzer revealed that a number of mutual
funds were ignoring, or worse, facilitating, illegal or questionable trading by certain individuals and investment institutions, including hedge funds.
Late trading occurs when a mutual
fund manager allows a trader to buy or sell shares of the fund at the 4 p.
funds have proliferated over the past 20 years to the point where now, Morningstar tracks more than 11,000.
In late 1993, Donegal Mutual
infused a $2 million surplus note into Delaware Mutual
in order to maintain Delaware Mutual
's viability in the marketplace.
funds have become a significant competitor to depository institutions, these institutions have increased their participation in the mutual
Furthermore, the American Institute of CPAs, the Securities and Exchange Commission and the Financial Accounting Standards Board already have recognized the importance of applying elements of tax-basis accounting to mutual
help groups offer the person with a disability a variety of benefits and assistance.
The operations being purchased by Nationwide Financial manage approximately $25 billion of mutual
fund assets, of which approximately $13 billion is sub-advised by third parties.
While many mutual
companies maintain a strong regional presence, Liberty Mutual
, a mutual
holding company, has reached well beyond that to become the largest U.
fund investors will find plenty of sites to tickle their fancies on the list found at Mutual
Fund Central, including www.
Maybe investors are as mature as we hope they are,'' said Randy Gore, vice president of DST Systems, which processes trades for mutual
On July 30, 1993 Allmerica P&C announced that its Board of Directors had received an invitation from State Mutual
to enter into discussions concerning a possible merger or consolidation of State Mutual
and Allmerica P&C as a part of a plan of demutualization of state Mutual