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To understand diversification benefits, assume that one of the stocks in the mutual fund portfolio is doing poorly while another is doing very well. The risk is mitigated as losses from one stock can be nullified/reduced by gains in another. Thus you will be better off investing in a mutual fund than investing in one stock or a few stocks of the fund portfolio.
An average mutual fund holds hundreds of securities. Hence, investors reap benefits from capital gains of different securities through their proportionate share, which would not be possible for individual investment in each of these securities owing to funding constraints. The fund management company sells mutual fund units to buyers.
Exchange-traded funds (ETFs) are an extension of mutual funds traded on the stock exchange, just like company shares giving the investor the flexibility to sell short or buy on margin during the trading hours in a day. Buyers can purchase ETF shares through a brokerage.
Head To Head Comparison Between Mutual Fund vs Exchange Traded Fund (Infographics) The Key Difference Between Mutual Funds vs Exchange Traded FundBoth Mutual Funds and Exchange Traded Fund are popular choices in the market; let us discuss some of the major differences :
ETFs trade on a public stock exchange, unlike mutual funds. Hence, like shares of public companies, ETF shares can be transferred, bought, or sold among investors
Investors directly purchase mutual fund units from the funds at a fixed NAV value during the day’s trading hours. You can buy and sell ETF shares anytime during trading hours, and the market decides the price based on demand-supply dynamics at any time. Hence the price of ETF units keeps changing throughout the trading hours, thus providing real-time pricing and greater control of the price of your trade
Due to their manner of creation and redemption, ETFs incur capital gains taxes only when the investor sells the fund. In contrast, mutual funds incur capital gains tax every time they trade the shares. Hence tax liability is higher for mutual funds compared to ETF
The transaction cost for buying or selling mutual fund units is zero. However, ETFs have a transaction cost involved in the form of a bid-ask spread, just like other exchange-traded shares
Most Mutual funds have an investment lock-in period of a minimum of 90 days and impose a penalty if the investor wants to liquidate his holdings before the lock-in period. Since ETFs are exchange-traded, investors can trade their units with other investors at the prevailing market price during trading hours. There is no minimum holding period
Traders can short-sell or buy ETF units on margin, similar to public company shares. ETFs can thus be used for hedging, equitizing cash, or arbitrage
Unlike ETFs, Mutual funds will provide you with the opportunity to preset automatic investments and withdrawals as per your preferences
Most mutual fund managers have the independence to choose their investments and actively manage their portfolios to beat the index they track. Professionals passively manage most ETFs, which are primarily index funds. They aim to match the movements and returns of the tracked index by maintaining a portfolio similar to that of the index.
Mutual Fund vs Exchange Traded Fund Comparison TableThe Basis of Comparison
Mutual Fund
Exchange-Traded Funds
Cost-effectiveness The operating fees and commissions for actively managed ETFs are comparatively higher due to their high trading activity and volume of transactions, which require larger fees and commissions. Comparatively lower since they are usually passively managed index funds
Tax Efficiency Comparatively, more tax liabilities Offer capital gains tax benefits due to the manner of their creation and redemption
Minimum investment Most Mutual funds have a minimum investment limit specified in their terms. This amount is higher than the net asset value (NAV) of one unit of the fund Any minimum investment does not constrain ETFs. You can be an ETF investor by buying just one unit of the fund
Liquidity Mutual funds have comparatively lower liquidity ETFs have higher liquidity, and its liquidity is connected to the liquidity of stocks included in the index
Brokerage account Investors do not need to open a brokerage account to invest in a mutual fund A brokerage account is necessary to trade ETF units in the stock exchange
ConclusionMutual Fund vs Exchange Traded Fund provides similar investment opportunities to small investors constrained by funds and expertise from individually investing in a large diversified portfolio of assets, including stock, bonds, commodities, etc. Both Mutual Fund vs Exchange Traded Fund investment vehicles offer high diversification benefits in the form of better returns at a lower cost. Both Mutual Funds vs Exchange Traded Funds offer a wide variety of investment options, and based on your preference, you can invest broadly, like in a market fund, or narrowly like in a sector fund. Professional portfolio managers administer both these investment vehicles, providing their expertise and saving you time and effort.
However, ETFs provide several benefits over mutual funds, like a lower minimum investment, more control over price, lower capital gains tax benefit, trading simplicity, lower commission and management fees involvement, and cleaner transferability options while switching from one investment firm to another. On top of that, ETFs provide higher investment flexibility as they come with several innovations in their trading strategy, like style ETFs, inverse ETFs, country ETFs, etc., offering a greater opportunity of attaining their specific financial goals.
Still, the question remains whether ETFs are better than Mutual funds or vice-versa. This largely depends on the preference of the investor. If the investor prefers a lower minimum investment, he will opt for an ETF. If he wants repeated automatic transactions, he should go for mutual funds. He should go for an ETF if he wants control over the pricing. He should opt for a mutual fund if he does not want the hassles of opening and maintaining a brokerage account. If he is looking for an index fund with a lower risk, an ETF could be a more suitable investment.
Recommended ArticleThis has guided the top difference between Mutual funds vs Exchange Traded Funds. Here, we discuss the Mutual Fund vs Exchange Traded Fund key differences with infographics and a comparison table. You may also have a look at the following articles –
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What Are The Benefits Of Hedge Fund In Investment?
What is Hedge Fund?
Hedge Fund is one type of Alternate investment vehicle wherein Hedge fund managers pool capital from wealthy and sophisticated investors to invest in various asset classes using complex strategies. For example, these strategies can be Equity Long-Short, Event-driven, Distressed Asset, Convertible Arbitrage, etc.
Due to its inherent style, strategies are highly risky, mostly leveraged and illiquid, and require Investors to understand the risk behind the same. Also, due to limited regulations governing Hedge Funds, these are not as transparent, unlike Mutual Funds.
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Similarly, the sponsors act in the capacity of General Partners with the main objective of managing the activities. In short, the Limited Partners invest funds in the Hedge Fund, which Sponsors manage, i.e., General Partners, and investments are made per stated objectives in line with complex investment strategies that vary from Fund to fund.
How does Hedge Fund Work?It typically works with Investors acting in the capacity of Limited Partners and Sponsors acting as General partners who are responsible for managing the activities of the Fund. Hedge Fund enters into various Investment Strategies based on the acceptable risk to generate positive alpha for its partners. Some of the popular strategies are:
Event-Driven
Distressed Securities
Convertible Arbitrage
Global Macro
Emerging Markets
Fixed Income Arbitrage
Merger Arbitrage
Convertible Arbitrage
Management Fees are a fixed percentage of Assets under management at the end of the year. The higher the Market Value of assets at the end of the year, the higher the management fees will be.
Incentive fees are charges on profit that may be net of management fees, or they can charge on profit before management fees, depending upon the agreement.
The most common fee structure prevalent globally is the “Two and twenty” structure which implies two percent management fees and twenty percent incentives. Also, Hedge Funds can get a share of profits as incentives only when the profits exceed the previous period’s high (popularly known as the High watermark). Accordingly, Hedge Funds first need to recover losses, if any, and attain their high watermark before they become eligible for additional incentive fees, which makes the working even more dynamic. Incentive fees are usually paid based on whether hard hurdle rate (which means returns generated by the fund more than the hurdle rate) or soft hurdle rate (which means total return generated by the fund).
Due to the unregulated scope and low disclosure requirements, investors undertake more stringent due diligence, which takes both qualitative and quantitative forms. Quantitative disclosures include periodic reviews of returns generated, performance measure appraisals, and hedge fund performance since inception to understand the consistency and investment strategy. Qualitative disclosure consists of a background check of managers, any past legal issues, the longevity of the fund, and all legal matters.
At the beginning of 2023, there were total Assets under management of $100 million. During the year, the fund generated a return of twenty percent. Based on the above fees structure, the compensation is computed as follows:
Particulars (Amt in USD Million)
Asset Under Management at the Beginning of 2023 (A) 100
The return generated during the year(B) 20%
Asset Under Management at the end of 2023 (C) = (A) * (B) + (A) 120
Management Fees in percent (D) 2%
Management fees based on Asset under Management at the end of 2023 (E) = (C)*(D) 2.4
Incentive fees in percent (F) 20%
Incentive fees (G) = (F)*(C-A) 4
The total remuneration of Hedge Fund (H) = (G)+((E) 6.4
Benefits of Hedge Fund
It offers diversification benefits to investors as Hedge invests in different asset classes and a wide array of long-short strategies to benefit from movement on both sides.
ConclusionHedge Fund is an Alternative Investment vehicle, and it works through the pooling of capital by sponsors from Accredited Sophisticated Investors. Normally these funds are established as LLCs and deploy various strategies to meet the high watermark level. Among the many fee structures, the most common and widely used structure is “2 and 20,” which reflects two percent total asset size management fees and a twenty percent incentive fee. Despite the many benefits that the Hedge fund offers, investors need to undertake proper due diligence and continuously monitor the activity of general partners (fund managers) to ensure that investor interest is given the utmost priority.
Recommended ArticlesThis is a guide to Hedge Funds. Here we discuss the introduction, definition, and how it works, along with examples and benefits. You may also have a look at the following articles to learn more –
$Ruby Listed On Coinsbit Exchange
The $RUBY token has been listed and made available for trade on the Coinsbit cryptocurrency exchange just yesterday. Coinsbit, one of Europe’s largest and award-winning crypto exchanges, listed the native $RUBY token to its 1.5 million registered platform users on the 24th of March.
Coinsbit dropped the news of the two RUBY trading pairs available through its social media accounts, a normal practice of the centralized exchange, with some further trading competitions and bounty events rumored to be in the works. The Coinsbit exchange offering represents the second-largest since Ruby Play Network began its string of listings on March 15th. chúng tôi offers 2 trading pairs for $RUBY. Users can buy & sell $RUBY and trade with BNB or USDT pairings.
Ruby is now available to trade on Coinsbit with BNB and USDT pairings open
More on the Coinsbit launch and early indications
Since the listing went live on Coinsbit, about 24 hours ago according to the current time, $RUBY has increased 5% in price. Multiple exchanges and staking platforms are now offering various offers including staking, farming, and $RUBY trading across a variety of markets. The 5% increase does come as a bit of a surprise, certainly being different from the normal trend seen in cryptocurrency.
Typically in these cases the chart reflects the opposite, with many traders known to “sell the news” as projects list crypto tokens on exchanges such as Coinsbit for the very first time. The return of games like Spin2Win and RubySweeper, both currently being reconditioned, could play a part in the continued usage and utility of RUBY, with games that users can play daily and use their RUBY outside of merely buying and selling – seemingly within the next phase of plans for the Ruby Play Network as a whole.
Other Ruby Play Network news
Further gaming propositions have already been mentioned from the Ruby Play Network, as the platform focus has been clearly said to be expansion and growth of the gaming partnerships and offerings on RPN now and consistently in the future. Additionally, a transition is being implemented to more consumer-focused messaging, with the emphasis being given to bringing attention to the gaming and other opportunities present on the Ruby Play Network and with its partners.
Blockchain gaming partner – Strawberry – has provided liquidity to multiple platforms for $RUBY live staking to begin. The XPortal offers staking by Strawberry, with other staking options also being offered on ApeSwap Jungle Farms and ACY Finance respectively – through this cross-purpose partnership.
Next steps for Ruby Play Network
The transition of RUBY tokens to multisig wallets for automation, greater security and transparency, has already begun. The move to the smart protocol-coded wallets allows for tokens allocated to adoption mining and vested tokens to be scheduled and viewed publicly on the blockchain ledger.
The continued growth and collaboration with Strawberry look to be a key motivation for the platform. Strawberry Sweeps social casino pays out in BTC, USDT and Ethereum, with players also being rewarded in $RUBY in exchange for time in play. The Strawberry social casino is due to be rolled out to further regions and markets in the near future, providing some further gaming utility to wider Ruby Play Network users.
The adoption mining model has seen an increase in usage on the network, with traffic to the platform up 50 times compared to 4 months ago. How the platform leverages and engages with this user base is where the success will lie going forward. Keep up-to-date with all things $RUBY via the Twitter, Telegram and Discord channels.
Brendan Brown
Bitcoin Exchange Back Online After Hack
A small New York-based company that specializes in exchanging Bitcoins is back online after hackers stole about US$250,000 worth of the virtual currency earlier this month.
Roman Shtylman, founder of BitFloor, said by phone from London on Monday he reported the theft to the FBI and that he intends to pay back victims whose Bitcoins were stolen.
How long that will take I dont know,” Shtylman said. “Certainly for me this is a long-term plan, and Im mostly doing this because I feel it’s important to try and be clear of my intention to try and recover the coins.”
Bitcoin is a virtual currency, created by a mysterious person who went by the name “Satoshi Nakamoto” and has extensive knowledge of cryptography. Bitcoins are transferred using software programs that connect to a peer-to-peer system that cryptographically verifies the transaction.
Bitcoin “miners” are people who have built heavy-duty computing systems which maintain the integrity of the transaction system. For their work, they are periodically awarded Bitcoins, which have a fluctuating market value and can be traded for cash on exchanges such as BitFloor.
Nakamoto launched Bitcoin in early 2009. He was active in the Bitcoin community at the onset, and then disappeared: no one has conducted an interview with him, and efforts to uncover his true identity have been fruitless. A nine-page white paper written by Nakamoto describes the system.
Unsurprisingly, Bitcoin exchanges are prime targets for hackers, and several exchanges have been hacked. Because of how Bitcoin’s peer-to-peer system is designed, transactions are irreversible unless the receiver of the Bitcoins chooses to send some back to the sender.
All transactions using Bitcoin are publicly recorded. Users have a 32-character alpha-numeric address, which is used to transfer funds. That address — and the receiving address — are available to see on websites such as Blockchain.info.
According to those records, the hacker has not transferred or spent the funds, Shtylman said. While Bitcoin offers a high degree of anonymity for Bitcoin-only transactions, at some point, users probably want to exchange their Bitcoins for cash (one Bitcoin was trading for $12.06 on Tuesday according to the largest exchange, Mt. Gox).
Bitcoin exchanges need a certain amount of information from users in order to pay them, including a person’s name and bank account details. That offers a potential opportunity to trace a thief. Bitcoin has drawn attention, but no country has tried to regulate it, and exchanges do not want to be linked to money laundering or other shady deals.
Shtylman said the hack was devastating, and the cost well exceeded revenues he had made since he launched trading on BitFloor in October 2011. The loss, amounting to about 24,000 Bitcoins, was his fault: he had left the private keys — needed to unlock and transfer Bitcoins — on an unencrypted disk. Bitcoin uses public key cryptography for security.
Following the hack, Shtylman attended a Bitcoin conference in London where no one expressed anger at him.
“Most users and existing members of the community have been very supportive and wanted to see BitFloor come back online,” Shtylman said.
Since relaunching, Shtylman said he is now keeping private keys in so-called “cold storage,” or on offline computers not connected to the BitFloor’s exchange. All funds that are live on the exchange will be backed by BitFloor, he said.
“We are never going into a situation where we are doing fractional reserve,” Shtylman said, where funds belonging to customers are also used for other purposes.
Top 10 Most Traded Cryptocurrencies Of 2023: A Look Back
Buying these cryptocurrencies has brought in the most profit in 2023
Cryptocurrency trading is the most popular method to make money but there is a lot of volatility which makes it highly risky. But owing to the market’s immense growth potential, there are other effective strategies to make profits with cryptocurrency. Here is the list of the most profitable cryptocurrencies that would bring better returns in 2023.
Polkadot (DOT)Market cap: Over $28 billion Cryptocurrencies may use any number of blockchains; Polkadot (and its namesake crypto) aims to integrate them by creating a cryptocurrency network that connects the various blockchains so they can work together. This integration may change how cryptocurrencies are managed and have spurred impressive growth since Polkadot’s launch in 2023. Between September 2023 and Sept. 30, 2023, its price grew 872%, from US$2.93 to US$25.61.
Bitcoin (BTC)Market cap: Over $821 billion Created in 2009 by someone under the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transaction distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters. Bitcoin’s price has skyrocketed as it’s become a household name. Five years ago, you could buy Bitcoin for about US$500. Currently, a single Bitcoin’s price is over $57,000. That’s a growth of about 9122%.
Ethereum (ETH)Market cap: Over US$353 billion Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs). Ethereum has also experienced tremendous growth. In just five years, its price went from about US$11 to almost US$3,000, increasingly more than 27,000%.
Dogecoin (DOGE)Market cap: Over US$26 billion Dogecoin has been a hot topic thanks to celebrities and billionaires like Elon Musk. Famously started as a joke in 2013, Dogecoin rapidly became a prominent cryptocurrency option, thanks to a dedicated community and creative memes. Unlike many other cryptos, such as Bitcoin, there is no limit on the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases. Dogecoin’s price in 2023 was $0.0002. By Sept. 30, 2023, its price was at US$0.20—a 101,800% increase.
Tether (USDT)Market cap: Over US$68 billion Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.
Cardano (ADA)Market cap: Over US$67 billion Somewhat later to the crypto scene, Cardano is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification present in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, its native coin. Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2023, ADA’s price was US$0.02. As of Sept. 30, 2023, its price was at US$2.10. This is an increase of over 10,500%.
Binance Coin (BNB)Market cap: Over US$64 billion The Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its launch in 2023, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing, or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin. Its price in 2023 was just US$0.10; by Sept. 30, 2023, it had risen to over US$382, a gain of more than 382,000%.
XRP (XRP)Market cap: Over US$44 billion Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies. At the beginning of 2023, the price of XRP was $0.006. As of Sept. 30, 2023, its price reached $0.94, equal to a rise of over 15,700%.
Solana (SOL)Market cap: Over US$41 billion Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps), and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. SOL, Solana’s native token, powers the platform. Launched in 2023, SOL’s price started at US$0.77. By August 2023, its price was almost US$140, a gain of about 18,000%.
USD Coin (USDC)Market cap: Over US$31 billion
Cryptocurrency trading is the most popular method to make money but there is a lot of volatility which makes it highly risky. But owing to the market’s immense growth potential, there are other effective strategies to make profits with cryptocurrency. Here is the list of the most profitable cryptocurrencies that would bring better returns in 2023.Cryptocurrencies may use any number of blockchains; Polkadot (and its namesake crypto) aims to integrate them by creating a cryptocurrency network that connects the various blockchains so they can work together. This integration may change how cryptocurrencies are managed and have spurred impressive growth since Polkadot’s launch in 2023. Between September 2023 and Sept. 30, 2023, its price grew 872%, from US$2.93 to US$25.61.Created in 2009 by someone under the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transaction distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters. Bitcoin’s price has skyrocketed as it’s become a household name. Five years ago, you could buy Bitcoin for about US$500. Currently, a single Bitcoin’s price is over $57,000. That’s a growth of about 9122%.Both a cryptocurrency and a blockchain platform, Ethereum is a favorite of program developers because of its potential applications, like so-called smart contracts that automatically execute when conditions are met and non-fungible tokens (NFTs). Ethereum has also experienced tremendous growth. In just five years, its price went from about US$11 to almost US$3,000, increasingly more than 27,000%.Dogecoin has been a hot topic thanks to celebrities and billionaires like Elon Musk. Famously started as a joke in 2013, Dogecoin rapidly became a prominent cryptocurrency option, thanks to a dedicated community and creative memes. Unlike many other cryptos, such as Bitcoin, there is no limit on the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases. Dogecoin’s price in 2023 was $0.0002. By Sept. 30, 2023, its price was at US$0.20—a 101,800% increase.Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning it’s backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tether’s value is supposed to be more consistent than other cryptocurrencies, and it’s favored by investors who are wary of the extreme volatility of other coins.Somewhat later to the crypto scene, Cardano is notable for its early embrace of proof-of-stake validation. This method expedites transaction time and decreases energy usage and environmental impact by removing the competitive, problem-solving aspect of transaction verification present in platforms like Bitcoin. Cardano also works like Ethereum to enable smart contracts and decentralized applications, which are powered by ADA, its native coin. Cardano’s ADA token has had relatively modest growth compared to other major crypto coins. In 2023, ADA’s price was US$0.02. As of Sept. 30, 2023, its price was at US$2.10. This is an increase of over 10,500%.The Binance Coin is a form of cryptocurrency that you can use to trade and pay fees on Binance, one of the largest crypto exchanges in the world. Since its launch in 2023, Binance Coin has expanded past merely facilitating trades on Binance’s exchange platform. Now, it can be used for trading, payment processing, or even booking travel arrangements. It can also be traded or exchanged for other forms of cryptocurrency, such as Ethereum or Bitcoin. Its price in 2023 was just US$0.10; by Sept. 30, 2023, it had risen to over US$382, a gain of more than 382,000%.Created by some of the same founders as Ripple, a digital technology and payment processing company, XRP can be used on that network to facilitate exchanges of different currency types, including fiat currencies and other major cryptocurrencies. At the beginning of 2023, the price of XRP was $0.006. As of Sept. 30, 2023, its price reached $0.94, equal to a rise of over 15,700%.Developed to help power decentralized finance (DeFi) uses, decentralized apps (DApps), and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanisms that help it process transactions quickly and securely. SOL, Solana’s native token, powers the platform. Launched in 2023, SOL’s price started at US$0.77. By August 2023, its price was almost US$140, a gain of about 18,000%.Like Tether, USD Coin (USDC) is a stablecoin, meaning it’s backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions.
Best Smartphone For It: Blackberry Vs. Iphone Vs. Android
ALSO SEE: Best Smartphone for the Enterprise: Evaluating the Contenders
AND: Best Smartphone Security Practices: Five Tips
The year 2009 was a dismal one for carriers and handset vendors alike. Sales were down, replacement cycles were way up and the trend of voice services (be they fixed or mobile) becoming a commodity continued unabated.
Yet, in the worst economic climate since the Great Depression, the mobile market had one piece of encouraging news: smartphone adoption spiked.
According to Gartner, smartphone sales were way up in 2009, representing 14% of the overall mobile market, an increase of 24% over 2008. Gartner believes that adoption will continue to trend upwards, culminating in smartphone sales surpassing PC sales by 2013.
While problems such as security and expensive data plans may well bedevil the space, the fact remains that for IT the time to start planning for smartphones is now. With that in mind, we surveyed the smartphone landscape with one question in mind: which smartphone is the best one for IT? Here’s what we found:
The BlackBerry started out as a business device, and despite moves to appeal to a broader consumer audience, it remains a business device.
“BlackBerry has the best email platform, best remote monitoring and security, best keyboard, hardiest hardware, best displays, and fantastic battery life due to mobile optimization,” said Maury Margol, president and co-founder of the Wireless Technology Forum.
Margol pointed out that BlackBerry syncs all PIM data over the air with the BlackBerry Enterprise Server, has a removable battery and allows users to run applications in the background – none of which the iPhone does. “BlackBerry may have fewer apps, but the apps they have are business focused,” he added.
Greatest strength: Rock-solid email integration.
Biggest weakness: Browser and OS lag behind those on iPhone and Android.
Hot model: Bold 9700, edging out the Storm2 9550. (Yes, the Storm2 counters iPhones and Androids with a touchscreen, but a BlackBerry just doesn’t feel like a BlackBerry without that built-in keyboard.)
Must-have IT app: Priced at $49.99, Wireless Database Viewer Plus from Cellica Corporation lets you view and update any desktop-side database from your handset. Additionally, this app keeps you current, synching automatically whenever a database is changed.
App IT would like to keep away from users: UnlockIT ($19.99) from Volcari Software helps users get around security policies that require passwords after the phone is idle for a minute or two.
Cool non-IT app: Have you just had one of those days where servers crashed, critical data wasn’t backed up or the latest security exploit ran wild through your organization? If so, fire up the Bartender Pro from Epic Applications. At $2.99, why would you not have a database of stiff drinks at your fingertips? A cool feature is the ability to get recipes tailored to whatever liquor and mixers you have on hand.
Carriers: The big four (AT&T, Sprint, Verizon, T-Mobile), plus a slew of smaller carriers, such as Cellular South, Cincinnati Bell and Metro PCS.
The iPhone is and always has been a consumer-focused device, but that hasn’t stopped IT pros from flocking to it.
“I used a BlackBerry for years and was very happy with it,” said Rob Groome, IT manager at University of Southern California’s Institute for Creative Technologies. “I switched to the iPhone for one simple reason: device consolidation. I was tired of lugging around both a smartphone and iPod.”
For his personal usage, Groome is happy he made the switch. When it comes to managing ICT’s workforce, however, Groome is more circumspect. “It’s important to remember that the iPhone is a personal device that people are using for business. BlackBerry is the reverse.”
According to Groome and other IT pros I spoke with, the iPhone’s biggest flaw, from an IT perspective, is that there is no central management portal. Apple doesn’t have anything that matches the BlackBerry Enterprise Server, which means that centralized security policies are a no-go.
The iPhone has two other glaring weaknesses when it comes to business use: you can’t run apps in the background (if you remember correctly, Apple was late to this game on desktops as well) and you can’t swap out the battery for prolonged use.
That doesn’t mean that the iPhone isn’t winning converts in the IT world. Paul Urfi, director of MIS/IT for Cadec, a telematics firm, calls his iPhone his “Mobile NOC.”
“I live on my iPhone. Everything I can do sitting at my desk, I can do on my iPhone. I VPN in and I can securely do terminal sessions, remote desktop and pretty much any admin job I have on my to-do list,” he said.
Next Page: the Android challenges the Blackberry and iPhone
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