ABSTRACT
Most economies have a fund management policy and encourage the activities of funds on the grounds that a well-regulated, active and passive fund management industry is beneficial for savers and investors, advisers, regulators and governments. Fund management is also a major investor in publicly quoted businesses and firms. This is a real-world benefit for millions of workers both directly and indirectly employed by the businesses and governments that funds invest in. Understanding how fund management works is critical for the case study in how blockchains might reform and revolutionise this industry. A fund management company is often an arm or division of a much larger financial services industry firm, such as a retail bank, an insurance company or even a financial advice firm. Hedge funds are also usually more expensive, charging higher annual fund management fees and, depending on the fund, a levy on any profits made by the hedge fund in a year.
