New Investment Fund In Sydney
A new type of investment fund has been opened in Sydney by a leading firm of stockbrokers. There is no management charge, the w’hole operation being handled within the broker’s office.
The firm is depending on its normal brokerage charges to cover its costs. Shares in the fund will sell initially for 2s each and later at a price based on the market value of its holdings. Like Open-ender In this it is akin to the open-ended fund that has proved so popular in Australia. But all other funds floated to date have made a management charge in addition to brokerage on its own purchases. Some funds have been able to avoid brokerage to some extent by bulk purchases off the market.
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Bibliographic details
Press, Volume C, Issue 29478, 3 April 1961, Page 9
Word Count
127New Investment Fund In Sydney Press, Volume C, Issue 29478, 3 April 1961, Page 9
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Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
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