The Fund Industry, 2nd Edition


Praise for the 2nd Edition

"a timely, comprehensive book"

Brenda Jubin, Seeking Alpha


The Fund Industry offers a comprehensive look at mutual funds and the investment management industry, for fund investors, those working in the fund industry, service providers to the industry and students of financial institutions or capital markets. Industry experts Robert Pozen and Theresa Hamacher take readers on a tour of the business of asset management. Readers will learn how to research a fund and assess whether it’s right for them; then they’ll go behind the scenes to see how funds are invested, sold and regulated. This updated edition expands coverage of the segments of the industry where growth is hottest, including hedge funds, liquid alternatives, ETFs and target date funds -- and adds an introduction to derivatives.


Mutual funds are a key component of financial planning for 96 million Americans. Nearly a quarter of U.S. household savings are invested in funds, which give individual investors affordable access to professional management. This book provides a detailed look at how firms in the industry:


  • Invest those savings in stocks and bonds
  • Evaluate the risks and returns of funds
  • Distribute funds directly to consumers or through financial advisors or retirement plans
  • Handle the complex operational and regulatory requirements of mutual funds
  • Vote proxies at the annual meetings of public companies
  • Expand their operations across borders

Along the way, the authors describe the latest trends and discuss the biggest controversies -- all in straightforward and engaging prose. The Fund Industry is the essential guide to navigating the mutual fund industry.




"This book provides an excellent overview of all aspects of the fund industry-from portfolio management to marketing to regulation. It will be an invaluable tool for those working in the fund industry and a genuinely helpful guide for fund investors."

--Mary Schapiro, Former Chairperson of the Securities and Exchange Commission


"Everything you need to know about mutual funds, explained in clear and simple language--a great jargon buster."

-John Kay, Financial Times columnist and visiting professor, London School of Economics

How to Order...

The cover price for the book will be $60, but bulk pre-orders are now being accepted for shipping in late February 2015. (Available in hardcover or e-book)






Note: Prices do not include shipping. $5 for the first book, plus $2 for each additional book.




Questions? Comments? Please contact NICSA at (508) 485-1500 or via email at

Please note: Member pricing is available exclusively for NICSA members in good standing, to regulators and to NICSA partners.  To check on your membership status, please contact NICSA at


Robert Pozen is former Chair of MFS Investment Management®, as well as a Senior Lecturer at the Harvard Business School and a Senior Fellow at the Brookings Institute.

He was previously vice chairman of Fidelity Investments; chairman of the SEC Advisory Committee on improving financial reporting; and a member of the Presidential Commission to Strengthen Social Security.

A prolific author of editorials in leading newspapers, in 2009 he published the book Too Big to Save?: How to Fix the U.S. Financial System. Pozen graduated summa cum laude from Harvard College and earned a doctor of laws from the Yale Law School where he was an editor of the Yale Law Journal.

Theresa Hamacher, CFA, former President of NICSA, the National Investment Company Service Association.

Previously, she was chief investment officer for Pioneer Investment Management USA, where she supervised a team of over fifty investment professionals managing more than $15 billion in global equity and fixed income assets for mutual fund and institutional clients. Before joining Pioneer, she was the chief investment officer for Prudential Mutual Funds. In 1984, she ran the Prudential-Bache (Tax-Managed) Utility Fund, the top-performing mutual fund in the United States.

Theresa is coauthor of The Pocket Idiot's Guide to Investing in Stocks. Hamacher is a summa cum laude graduate of Yale College and a Chartered Financial Analyst.

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