Mutual Funds Requirement to Qualify for Regulated Investment Company

Abstract

JPMorgan Chase & Co. is a leading global financial services firm with assets of $2.69 trillion and operations in more than 100 countries. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in United States and many of the worlds prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. The project is a result of the work done for JPMorgan Chase & Co. from April to June 2020 for a period of 9 weeks. The objective of the project was to develop the understanding of the US Mutual Fund Industry and find out the requirements for the funds to qualify as an Regulated Investment Company (RIC) and develop some hypothetical examples of the Mutual Funds fulfilling those requirements. And also try to explore the intent of the regulators behind setting up these requirements.