Word: mutualize
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...mutual fund firm headed by Harvard’s newly-appointed treasurer is under investigation by the Securities and Exchange Commission...
Capital Research and Management Company, which manages the $450 billion American Funds mutual fund group, is the focus of an SEC inquiry into possible illegal directed brokerage practices...
Harvard spokesperson Joe Wrinn wrote in an e-mail on Wednesday that the University was aware of the SEC investigation into Capital Research, but that “numerous other mutual fund companies” were also facing SEC scrutiny...
...reportedly investigating directed brokerage at Capital Research. Directed brokerage occurs when a mutual fund pays a brokerage firm—which completes stock and bond trades for the mutual fund—extra money so that the brokerage firm increases advertising efforts for the mutual fund, Nester said...
Nester said directed brokerage is intended to increase the mutual fund firm’s profit by attracting new customers—at investors’ expense...