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FNCE 4070 PowerPoint Presentation

FNCE 4070

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FNCE 4070

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  1. FNCE 4070 29 August 2012

  2. Function of Financial Markets

  3. Indirect Finance Example • Vanguard Short-Term Treasury Fund (VFISX) • Profile - The investment seeks current income. The fund invests at least 80% of assets in U.S. Treasury bills, notes, bonds, and other guaranteed U.S. government obligations. It maintains an average weighted portfolio maturity of between one to four years. • Net Assets $6.67B • Minimum Investment $3,000.00

  4. Structure of Financial Markets • Primary Market • New security issues sold to initial buyers • Typically involves an investment bank who underwrites the offering • Secondary Market • Securities previously issued are bought and sold • Examples include the NYSE and Nasdaq • Involves both brokers and dealers