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Funds 109: Important Mutual Fund Documents: The Shareholder Report

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1.
In your mutual fund shareholder report, turn to your fund's per-share data if you want to find _______.
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The turnover ratio. Stocks are listed in the portfolio-holdings section while an expense breakdown appears in the statement of operations. The per-share data features a series of ratios such as annual expenses and turnover as well as per-share distribution and net asset values.
2.
The part of a mutual fund shareholder report that discusses recent performance should, ideally, cover performance over what time frame?
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Several different time frames. The report should include several different time frames, both short and long.
3.
For details about how your mutual fund fees are spent, consult the _______.
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Statement of Additional Information. While the prospectus provides a view of all fund costs--including management and operational fees, as well as any commissions--the SAI breaks down those costs into their components, such as the portion of 12b-1 fees paid to brokers.
4.
Where should you turn for information about a mutual fund?
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Both. While mutual fund documents such as prospectuses, statements of additional information, and shareholder reports are essential for smart fund analysis, don't rely strictly on fund company materials. Seek outside sources to help put the information into context.
5.
Which part of the mutual fund shareholder report discusses broad economic trends?
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The letter from the president. The president typically covers broad economic trends that have affected the markets and provides some context for evaluating your fund.