Mutual Funds
A mutual fund is an investment company that invests via a prospectus. In a mutual fund, each investor buys shares of ownership in the fund. Each share reflects a percentage of ownership in all of the fund's underlying securities. Open-ended mutual funds continuously sell shares to new investors and redeem shares of existing investors. Mutual funds typically consist of general securities, such as stocks and bonds, but they are packaged together to offer investors attractive features such as diversification, professional management, ease of liquidity and purchase flexibility.
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