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Funds 109: Important Mutual Fund Documents: The Shareholder Report

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1.
Where in the shareholder report are you most likely to find information about whether a fund shorts stock or practices other complex strategies?
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In its footnotes. While some information about strategies such as shorting stocks may appear in the portfolio holdings section, your best bet is to scrutinize the footnotes for this information. Don't count on managers touching on these strategies in their letters.
2.
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.
3.
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.
4.
Where in the mutual fund documents are you most likely to find a general explanation of how new developments in energy have affected the economy?
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The letter from the president. This would be a large-scale type of trend.
5.
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.