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Mutual Fund - The Mutual Fund primarily targets retail investors. [10] Portfolio Management Services - allows high net worth investors to invest in a more concentrated portfolio aiming at higher returns. In the year 2000, ICICI Prudential AMC was the first institutional participant to offer these service in India. [11]
IIROC also imposed penalties for not disclosing the commission-sharing arrangement with its clients. Blackmont Capital and Duke were assessed a total of $857,500 in fines by IIROC. [12] In 2011, the British Columbia Securities Commission (BCSC) overturned IIROC's decision and penalties against Blackmont Capital and Duke.
Due to lower commissions, financial advisers have avoided selling Mawer funds. The partnership between Mawer and Manulife have allowed more generous and less visible compensation structures for funds.
The commission that the agent receives is usually a percentage of this figure, although some firms like Merrill Lynch use figures called Production Credits, usually smaller than GDC, to determine payouts and retain more revenue. For example, a mutual fund with a 5.75% sales charge is sold to someone who invests $10,000.
A mutual fund is an investment fund that pools money from many investors to purchase securities. The term is typically used in the United States , Canada , and India , while similar structures across the globe include the SICAV in Europe ('investment company with variable capital'), and the open-ended investment company (OEIC) in the UK.
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