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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 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.
3.
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.
4.
A good shareholder report will compare your fund's performance with what?
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Both. You want to know how your fund stacks up against an index as well as a set of peers.
5.
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.
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