Issues in Mutual Fund Distribution

91 Pages Posted: 29 May 2012 Last revised: 28 Aug 2016

See all articles by John A. Haslem

John A. Haslem

University of Maryland - Robert H. Smith School of Business; University of Maryland - Robert H. Smith School of Business

Multiple version iconThere are 2 versions of this paper

Date Written: December 22, 2015

Abstract

This paper provides in-depth discussion of important issues related to mutual fund distribution. The first two topics are fund distribution channel characteristics and Rule 12b-1 fees and distribution. Distribution channel characteristics discuss direct channel, advice channel, retirement channel, institutional channel, supermarket channel, and multiple-share classes. Rule 12b-1 fees and distribution discuss adoption of Rule 12b-1, Rule 12b-1 after adoption, current 12b-1 fees, issues with 12b-1 fees, and summary of 12b-1 fees attributes. The remaining topics include direct sold and broker-sold services, Rule 12b-1 fees and revenue sharing, revenue sharing issues, “soft-dollar” trading, distribution and flows, opacity and agency conflicts, expense shifting agency conflicts, and intermediated distribution and portfolio managers.

Keywords: mutual fund distribution, multiple share classes, channels of distribution, fund flow, fund services, transparency, agency conflicts, expense shifting

JEL Classification: G2, G23, G28

Suggested Citation

Haslem, John A. and Haslem, John A., Issues in Mutual Fund Distribution (December 22, 2015). Available at SSRN: https://ssrn.com/abstract=2070112 or http://dx.doi.org/10.2139/ssrn.2070112

John A. Haslem (Contact Author)

University of Maryland - Robert H. Smith School of Business ( email )

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Washington, DC DC 20016
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202-236 3172 (Phone)

University of Maryland - Robert H. Smith School of Business ( email )

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United States
202-387 2025 (Phone)

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