(货币政策教学课件）chapter 6 Mutual Fund.ppt

 Chapter 6 Mutual Fund I . Open Questions 1.What is mutual fund? 2.What’s the role of an investment adviser? 3.How does a mutual fund’s Net Asset Value increase? 4.What are the advantages of mutual funds? 5.How to build a mutual fund portfolio? II. Teaching Plan This chapter will cover 3 hours. 2 hours for the introduction of background information and explanations of terms and the texts. And the other 1 hour for discussion and practice. III. Teaching Methods Translation of key sentences Paraphrasing of key words and expressions Explanation of new terms Summarizing of key passages Discussion of important issues Questions and answers: interaction between teachers and students IV. Background  There are three basic types of mutual funds: Open-end funds Open-end mutual funds must be willing to buy back their shares from their investors at the end of every business day Closed-end funds Closed-end funds generally issue shares to the public only once, when they are created through an initial public offering. Unit investment trusts Unit investment trusts or UITs issue shares to the public only once, when they are created. V. Special Terms Net asset value 净资产价值 most commonly used in reference to mutual or closed-end funds, net asset value (NAV) measures the value of a funds assets, minus its liabilities. NAV is typically calculated on a per-share basis. 净资产价值通常与共同基金或封闭式基金相联系，净资产价值衡量基金资产的价值，减去其负债。资产净值通常在每股的基础上计算。 Public company 公开招股公司 a public company or publicly traded company is a limited liability company that offers its securities (stock/shares, bonds/loans, etc.) for sale to the general public. This is not to be confused with a Government-owned corporation which might be described as a publicly-owned company. 一家上市公司或上市公司，是一家有限责任公司，提供向公众出售其证券（股票/股票，债券/贷款等）。这不应与通常称为共有公司的政府全资拥有的公司相混淆。 Index fund 指数基金 a collective investment scheme (usually a mutual fund or exchange-traded fund) that aims to replicate the movements of an index of a spe