The New Model Index Fund

MFAS Investment Advisors Research Paper

8 Pages Posted: 2 Jul 2001

See all articles by Paul Ali

Paul Ali

University of Melbourne - Law School; Centre for International Finance and Regulation (CIFR)

Martin L. Gold

Sydney Business School, University of Wollongong

Multiple version iconThere are 2 versions of this paper

Date Written: undated

Abstract

This research paper provides a brief introduction to Exchange-Traded Funds (ETFs), and describes the features that distinguish ETFs from other investment instruments (such as index mutual funds, active mutual funds, listed investment companies/trusts and share baskets).

The paper explains how ETFs overcome the drawbacks associated with conventional mutual funds and listed pooled investment vehicles. The dual-trading structure of ETFs - whereby investors create or redeem ETF shares - is also discussed. Finally, there is a discussion of the so-called active ETFs that have recently been launched in Germany (by Die Wertpapier Spezialisten) and Australia (by BNP Paribas).

Keywords: Exchange-traded funds, managed funds

JEL Classification: G23, K22

Suggested Citation

Ali, Paul and Gold, Martin Lionel, The New Model Index Fund (undated). MFAS Investment Advisors Research Paper. Available at SSRN: https://ssrn.com/abstract=275593 or http://dx.doi.org/10.2139/ssrn.275593

Paul Ali (Contact Author)

University of Melbourne - Law School ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia
+61 3 8344 1088 (Phone)
+61 3 8344 5285 (Fax)

HOME PAGE: http://www.law.unimelb.edu.au

Centre for International Finance and Regulation (CIFR) ( email )

Level 7, UNSW CBD Campus
1 O'Connell Street
Sydney, NSW 2000
Australia

Martin Lionel Gold

Sydney Business School, University of Wollongong ( email )

Level 18, Gateway Building
I Macquarie Place
Sydney, New South Wales 2000
Australia
+61 2 9266 1300 (Phone)

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