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Mutual Fund Accountants And Managers

Mutual funds are managed by mutual fund accountants and fund managers. These individuals are considered private accountants and managers because they work from the mutual fund company and not a public firm.

A mutual fund accountant handles the accounting functions for the mutual funds the company is responsible for.

The accounting functions include: maintaining balances in the accounts, making sure the company is compliance with the Securities and Exchange Commission (SEC), provides detailed annual and monthly reports on profit/loss and fund values, calculate the Net Asset Value(NAV) on each fund the company has, determine the current cash value on each fund the company has, and acts as a liaison between investors and internal management.

Qualifications for a mutual fund accountant are: a 4 year business degree preferably in Accounting or Finance and possess excellent mathematical and computer skills. Some employers require a Masters degree in Accounting or a Certified Public Accountant(CPA) certification excellent mathematical and computer skills.

Salaries for mutual fund accountants depend on the level of experience and education the individual has. Entry- level mutual fund accountants can start between $40,000-$60,000 per year. Experienced mutual fund accountants can earn between $60,000-$100,000 per year.

A mutual fund manager is responsible for managing the daily financial happenings of an investor's portfolio. Depending on the size of the company, the fund manager could oversee several portfolios. The fund manager takes care of buying and selling of securities and reworking of the portfolio if the funds take a hit on the market. Unfortunately, fund managers are the first people to take the brunt of when a fund does not perform well. Mutual fund managers are asked to discuss how the fund is performing to internal management as well as investors but are not allowed to discuss how much the company holds in any mutual fund.

Qualifications for a mutual fund manager are: a 4 year business degree preferably Finance or Accounting and have a strong background in the mutual fund industry. Some employers may require the Chartered Financial Analyst

(CFA) or the Certified Financial Planner(CFP).

It is reported that the average annual salary for a mutual fund manager is over $330,000 per year. This number can be different based on where the mutual fund manager is employed.

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