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fund house
noun
A company that owns and operates a mutual fund.
Exact(32)
5. Aberdeen Asset Management, Europe's second-largest fund house is looking for a buyer, according to The Financial Times.
"Even a fund house the size of Fidelity realises that without performance it is nothing".
And he found it not at a brokerage firm or a mutual fund house, but at a "branchless" commercial bank that does business over the phone and the Internet.
The number of mortgages taken out to fund house purchases increased in June, according to figures from lenders which suggest that new rules on loans have not dampened the property market.
If a fund house wants to sell a global equity fund, for example, it might draw on a handful of its existing funds from different regions: say, a US equity fund and a Latin America fund managed in New York; a Europe fund managed in London; and an Asia fund managed in Hong Kong.
"He is serving the parochial interest of a very small group of financial people, bankers, investment bankers, fund managers, private equity firms, rather than serving the general public," said John C. Bogle, the founder and former chairman of the Vanguard Group, the giant mutual fund house.
Similar(28)
The handful of fund houses with well-developed marketing skills Jardine Fleming, Schroders, Fidelity, Templeton are able to do a modest business selling funds direct to retail customers.
In 2009, the richest nations pledged more than $20 billion to aid agriculture in developing countries, including $6 billion for a food security fund housed at the World Bank.
The banks, which also included the smaller Aldermore, wanted to know if the government could simply put the cash up front to fund housing developments.
The new products are a cut above the mass-market, do-it-yourself budgeting and retirement planning tools available online, often from mutual fund houses.
Of those questioned, 2%, or the equivalent of 1m people across the UK, had turned to a high-cost payday loan to fund housing costs.
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