The New Model Index Fund

Journal of the Securities Institute of Australia (JASSA), No. 3, Spring 2001

Posted: 1 Nov 2001

See all articles by Martin Gold

Martin Gold

Sydney Business School, University of Wollongong Australia

Paul Ali

University of Melbourne - Law School

Multiple version iconThere are 2 versions of this paper

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

Gold, Martin and Ali, Paul, The New Model Index Fund. Journal of the Securities Institute of Australia (JASSA), No. 3, Spring 2001. Available at SSRN: https://ssrn.com/abstract=286033

Martin Gold (Contact Author)

Sydney Business School, University of Wollongong Australia ( email )

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Australia
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Paul Ali

University of Melbourne - Law School ( email )

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Victoria, Victoria 3010
Australia
+61 3 8344 1088 (Phone)
+61 3 8344 5285 (Fax)

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

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