Starting Your own Fund.(Brief Article)
Kiplinger's Ask Kim Web Column, December, 2005 by Lankford, Kimberly
Byline: Kimberly Lankford, Kiplinger Washington Editors I would like to start my own mutual fund, which will be a fund of funds. Where do I begin? Are you sitting down? Starting a fund is a lot more difficult, and more expensive, than you might think. It would cost $100,000 or so in legal and filing fees just to launch the fund.
Moreover, the Securities and Exchange Commission says a fund has to contain at least $100,000 in assets before it can begin selling shares. That's the easy part. Once the fund was up and running, you'd have to pay for accounting, printing, legal and custodial services, which together cost a minimum of $100,000 per year, even for the most miniscule fund. If you could get the fund's assets up to, say, $50 million,...
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