Global Mutual Fund Industry Comparisons: Canada, The United Kingdom And The United States

The concept of mutual funds is older than many believe, originating in Holland over 230 years ago.  Through the years, mutual funds have evolved by allowing investors to invest their capital in various venues.  The structure of mutual funds in Canada, the United Kingdom, and the United States possess similar configurations.  The majority of funds in all three nations are invested in the equity market.  Although the structure may be the same, the size in terms of assets varies by these three countries.  This is not the only difference though; the expense ratio is greatly differentiated, dramatically affecting the amount of return that the investor will anticipate over time.  Assuming identical returns, the authors illustrate that over a hypothetical ten-year time period, your funds would grow the most in the United States, followed by the United Kingdom and finally Canada.  This analysis assumes comparable contemporary expense ratios of 1.4% for the United States, 1.63% for the United Kingdom, and 2.1% for Canada.  In addition, we make the assumption that these comparison countries are having investors procure funds in no-load mutual funds

Chern-Simons Theory as the Large Mass Limit of Topologically Massive Yang-Mills Theory

We study quantum Chern-Simons theory as the large mass limit of the limit $D\to 3$ of dimensionally regularized topologically massive Yang-Mills theory. This approach can also be interpreted as a BRS-invariant hybrid regularization of Chern-Simons theory, consisting of a higher-covariant derivative Yang-Mills term plus dimensional regularization. Working in the Landau gauge, we compute radiative corrections up to second order in perturbation theory and show that there is no two-loop correction to the one-loop shift $k\rightarrow k+ c_{\scriptscriptstyle V},\,\,k$ being the bare Chern-Simons parameter. In passing we also prove by explicit computation that topologically massive Yang-Mills theory is UV finite.Comment: 64 pages without figures (10 figures), DAMTP 91-34, LPTHE 91-61, NBI-HE 91-55, UGMS 91-2

Synthesis and decomposition of a novel carboxylate precursor to indium oxide

Reaction of metallic indium with benzoyl peroxide in 4-1 methylpyridine (4-Mepy) at 25 C produces an eight-coordinate mononuclear indium(III) benzoate, In(eta(sup 2)-O2CC6H5)3(4-Mepy)2 4H2O (I), in yields of up to 60 percent. The indium(III) benzoate was fully characterized by elemental analysis, spectroscopy, and X-ray crystallography; (I) exists in the crystalline state as discrete eight-coordinate molecules; the coordination sphere around the central indium atom is best described as pseudo-square pyramidal. Thermogravimetric analysis of (I) and X-ray diffraction powder studies on the resulting pyrolysate demonstrate that this new benzoate is an inorganic precursor to indium oxide. Decomposition of (I) occurs first by loss of 4-methylpyridine ligands (100 deg-200 deg C), then loss of benzoates with formation of In2O3 at 450 C. We discuss both use of carboxylates as precursors and our approach to their preparation

Observação de diferentes graus de lesões em estômagos e úlcera gástrica em leitões de creche. Isolamento de Arcobacter cryaerophilus

A úlcera gástrica (UG) é uma doença multifatorial, sendo uma das principais causas de morte súbita e esporádica de reprodutores. No suíno, as lesões de UG são localizadas na pars oesophagea do estômago, na qual o epitélio não é glandular. As causas das lesões estomacais são múltiplas, não havendo, até o momento, confirmação de envolvimento de bactérias na etiologia. O presente trabalho teve por objetivos verificar os graus de UG em estômagos de leitões em idade de creche, abatidos em um matadouro do Rio Grande do Sul, Brasil, bem como detectar a presença de bactérias do gênero Arcobacter. Foram examinados 80 estômagos de leitões em idade de creche, com peso médio de 14,6 kg, abatidos em um frigorífico no Rio Grande do Sul. O exame macroscópico revelou 57 (71,3%) sem lesão, 20 (25%) com lesão de paraqueratose na região esofageana (grau 1) , e 3 estômagos apresentando, respectivamente, graus 2, 3 e 4, com erosões e ulcerações. Foi isolado Arcobacter cryaerophilus de uma amostra de lesão de grau 1, sendo este o primeiro relato sobre a presença destas bactérias em estômago de leitão. São alertados os suinocultores para que se analisem as causas de úlcera gástrica cedo na creche, visando a prevenir perdas na recria e terminação

Leaching of carbon from native and non-native leaf litter of subtropical riparian forests

We evaluated the leaching of dissolved organic and inorganic carbon (DOC and DIC, respectively) from leaf litter of plant species of the native Atlantic Forest and of Pinus elliottii (Engelm.) and Eucalyptus grandis (Hill ex Maiden) forests. We carried out experiments in which leaves from each forest system (native, E. grandis, and P. elliottii) were placed in reactors with sterile water. After 1/4 h, 1 h, 4 h, 12 h, 24 h, and 48 h of incubation, we quantified the concentrations of DIC and DOC of each leachate. The greatest quantity of DIC was leached in the native forest system, whereas the greatest quantity of DOC was leached in the E. grandis forest system. With respect to the period of year, the greatest quantity of DIC was leached in autumn, whereas that of DOC was leached in the summer. Our results demonstrated that the replacement of native species in riparian zones, by non-native forest monocultures, could alter the chemical composition of the water. Finally, the results presented in this paper reinforce the need for a more careful look at ecological processes

A new attraction-detachment model for explaining flow sliding in clay-rich tephras

Altered pyroclastic (tephra) deposits are highly susceptible to landsliding, leading to fatalities and property damage every year. Halloysite, a low-activity clay mineral, is commonly associated with landslide-prone layers within altered tephra successions, especially in deposits with high sensitivity, which describes the post-failure strength loss. However, the precise role of halloysite in the development of sensitivity, and thus in sudden and unpredictable landsliding, is unknown. Here we show that an abundance of mushroom cap–shaped (MCS) spheroidal halloysite governs the development of sensitivity, and hence proneness to landsliding, in altered rhyolitic tephras, North Island, New Zealand. We found that a highly sensitive layer, which was involved in a flow slide, has a remarkably high content of aggregated MCS spheroids with substantial openings on one side. We suggest that short-range electrostatic and van der Waals interactions enabled the MCS spheroids to form interconnected aggregates by attraction between the edges of numerous paired silanol and aluminol sheets that are exposed in the openings and the convex silanol faces on the exterior surfaces of adjacent MCS spheroids. If these weak attractions are overcome during slope failure, multiple, weakly attracted MCS spheroids can be separated from one another, and the prevailing repulsion between exterior MCS surfaces results in a low remolded shear strength, a high sensitivity, and a high propensity for flow sliding. The evidence indicates that the attraction-detachment model explains the high sensitivity and contributes to an improved understanding of the mechanisms of flow sliding in sensitive, altered tephras rich in spheroidal halloysite