The early managed fund industry : investment trusts in 19th century Britain

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Title: The early managed fund industry : investment trusts in 19th century Britain
Authors: Hutson, Elaine
Permanent link: http://hdl.handle.net/10197/1143
Date: Sep-2003
Abstract: The early years of the 21st century have been a difficult and challenging time for the managed funds industry. The neglected history of managed funds reveals prior episodes of sustained growth, questionable practices, upheaval and inevitably, regulation. The first fully diversified managed fund appeared in Britain in 1868, and the industry remained largely a British preserve until the rise of the investment company and the mutual fund in the United States during the 1920s. This paper documents the features of the early trusts, discusses the rise of the industry and the challenges it survived in the early years, and draws parallels with facets of the finance industry of today.
Type of material: Working Paper
Publisher: University College Dublin. School of Business. Centre for Financial Markets
Copyright (published version): Centre for Financial Markets, 2003
Keywords: Mutual fundInvestment trustInvestment companyFinancial history
Subject LCSH: Trusts and trustees--History
Investments--History
Financial institutions--History
Other versions: http://www.ucd.ie/bankingfinance/docs/HUTSON_2004_HISTORY.pdf
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Centre for Financial Markets Working Papers

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