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Article: Mutual funds market on the verge of change: There will be new kinds of mutual funds, funds can be bought online, and foreign funds will be marketed in Israel.
- Article from:
- Globes
- Article date:
- May 2, 2007
CopyrightCOPYRIGHT 2007 Globes. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Irit Avissar and Hadas Magen
May 2--With a series of no less than 15 legislative amendments, the Israel Securities Authority is bringing the mutual funds sector into the 21st century. We expect to see among the changes new types of mutual funds, user-friendly and clear prospectuses, and the possibility of buying mutual funds online. The Securities Authority met mutual fund managers yesterday to present the changes expected in the sector.
The main changes expected in the coming year are as follows:
1. New mutual funds. The first new type of mutual fund will be composite funds, which are comprised solely of mutual funds. A fund manager can ...