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Course List
Introduction to the Securities Industry
Introduction to the Securities Industry
Introduction to U.S. Securities Processing
Securities Lending and Borrowing : An Operations Perspective
Foundations of Investment Management and Buyside Operations
Dealing with Change in the Financial Markets
Collateral Management: An Operations Perspective
International Issues
International Securities Operations
International Portfolio Accounting
Foreign Currency: Markets, Clearance, Settlement & Accounting
Foreign Exchange: Lifecycle of a Trade
Corporate Actions
U.S. Domestic Corporate Actions
Global Corporate Actions
Capital Markets
Capital Markets Overview
Capital Market Economics - Investigating the Linkages Between the Real Economy and the Financial Markets
Portfolio Management
Portfolio Management
Securities Analysis
Managing Risk
Risk in a Global Market - Management and Operational Challenges Looking Forward
Financial Management
Financial Accounting and Financial Mathematics
Financial Statement Analysis
Fixed Income Securities
Bond Math: Mathematics of the Fixed Income Market
Structured Securities: MBS, ABS, CDOs
Introduction to Fixed Income Products
Accounting for Fixed Income Securities and Derivatives
Mortgage-Backed Securities
Collateralized Debt Obligations and Credit Default Swaps (CDOs and CDS)
Fixed Income Analytics
Interest Rate Swaps and Credit Default Swaps
Fixed Income Securities Trade Processing and Operations
Accounting, Regulatory & Management
Stock Brokerage Accounting & Securities Regulations
Introduction to Private Equity Markets
Trading After the Volcker Rule
Dodd-Frank for Non-US Derivatives Users
Complying with the MiFID II/MAR Rules
Introduction to Derivative Products
Derivatives: Markets, Operations, Accounting & Control
Derivative Products: Risk Management and Valuation
Option Valuation and Trading
Equity Derivatives: Futures and Swaps
Interest Rate Futures and Swaps
Introduction to Options: Products, Trading & Processing
Swaps Processing and Operations
Commodity Futures: Energy, Metals and Agricultural
Equity Options: Strategies, Accounting and Operations
Mutual Funds
Introduction to Mutual Funds
Mutual Fund Operations

Course Description
Mutual Fund Operations
Available Dates:
October 25, 2018, New York
Course Code: 901
Duration: 1 day
Level: Basic
Fee: $795.00
Instructor: Charlotte Scott
CPE Credits: 6
Prerequisite: No Prerequisite Required.

This one-day program provides an introduction to the business structure of a typical mutual fund with a focus on its supporting operational life cycle and functions. The variety of mutual funds available to investors will be described and compared.

Along with types of mutual funds, the program content includes definitions and characteristics of the various fund classes. Participants will understand how mutual funds are sold and distributed, including the calculation of sales charges and fees (such as 12b-1 fees). Differentiation between those expenses allocated to the fund investors and the fund manager will be made.

All of the participants in the mutual fund industry, including, the Fund Manager, the Transfer Agent, the Fund Administrator, the Distributors, and the Custodian and the roles that they play will be thoroughly examined. Participants will become familiar with the services afforded to the mutual fund and brokerage communities through DTCC, in particular, fund/SERV and networking.

The Life Cycle of a Mutual Fund trade, from its inception as an order through its settlementwill be analyzed.

Topics for Discussion Include:

How Mutual Funds are organized and the role of their service providers:

  • Investment Company
  • Fund Manager
  • Transfer Agent
  • Distributors
  • Fund Administrator
  • Custodian
  • Auditors and Regulators

How investors purchase and redeem shares of Mutual Funds

DTCC Mutual Fund Services

  • Fund/Serv
  • Agreements
  • ACATS transfers
  • Networking
  • Omnibus Processing
  • Mutual Fund Profile

Transfer Agents

  • Identify major shareholder accounting and service function
  • Discuss fund transfer agent operations for proprietary and non-proprietary funds
  • Explain the flow of shareholder service activities
  • Examine transfer agent disbursements and cash flows from the fund to investors, including shareholder redemptions
  • Understand the functions provided by NSCC for the fund industry, including ACATS, FundServ, and Network
  • Evaluate the requirements for shareholder reporting and statements

Fund Administrators

  • Describe the role of the Fund Administrators
  • Discuss the communication paths among Fund operation groups, the Custodians, and the Fund Administrator
  • Appreciate selection criteria and fee structures for the fund administrators and differentiating characteristics
  • Identify areas that support accounting and reporting functions
  • List gaps and exposures in the fund administration process that create operations risk

Portfolio and Customer Accounting

  • At a high level, understand the functions of both investment and portfolio accounting
  • Discuss the information and its sources required for both
  • Recognize what type of reporting result from investment and portfolio accounting

By the end of the session, participants will be able to:

  • Identify the role and responsibility of the fund's service providers, including custodians, fund transfer agents and administrators, fund accountants and providers of shareholder services
  • Recognize interfaces required for underwriters/distributors/wholesalers/sales agents
  • Identify investor types and motivations
  • Describe the schematics of fund manager compensation programs