A study of the unit trust industry in Hong Kong.

by Chan, Lap-yan, Alvin.Includes questionnaire in Chinese.Thesis (M.B.A.)--Chinese University of Hong Kong, 1994.Includes bibliographical references (leaves 55-56).LIST OF TABLES --- p.ivABSTRACT --- p.vACKNOWLEDGEMENT --- p.viChapterChapter I. --- INTRODUCTION --- p.1Chapter II. --- METHODOLOGY AND LIMITATIONS --- p.3Chapter III. --- DIFFERENT KINDS OF FUNDS --- p.5Open-ended Versus Closed-ended Fund --- p.5Unit Trust Versus Mutual Fund --- p.6No-load Versus Load Fund --- p.7Unit Trust Categories --- p.8Chapter IV. --- REGULATORY FRAMEWORK IN HONG KONG --- p.11The Code on Unit Trusts and Mutual Funds --- p.13The Code of Ethics --- p.14Chapter V. --- THE STRUCTURE OF UNIT TRUSTS --- p.15Domicile --- p.15Trustee --- p.16Management Company --- p.18Chapter VI. --- MARKETING OF UNIT TRUSTS IN HONG KONG --- p.19Sales and Redemptions Figures --- p.19Sales Channels --- p.21Fund Houses --- p.21Agents --- p.22Banks --- p.23Sales Process --- p.25Dealing Procedures --- p.26Switching/Redemption --- p.27Chapter VII. --- TRANSACTION COSTS OF DEALING IN UNIT TRUSTS --- p.30Charges Reflected in Bid-Offer Spread --- p.31Charges Reflected in NAV --- p.33Rounding --- p.35Exchange Rate Risk/Spread --- p.36Actual Spreads of Fund Prices --- p.38Chapter VIII. --- RISK AND RETURN --- p.41Performance Evaluation Method --- p.41Previous Studies --- p.43Sharped Index of Selected Funds in Hong Kong --- p.44Chapter IX. --- CONCLUSION --- p.50APPENDIX --- p.52REFERENCES --- p.55BILBLIOGRAPHIC READINGS --- p.5