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mutual fund

Financial DictionaryBond Professor's Dictionary
A pool of investment capital from people who share the same investment goals. Mutual funds made up of bonds do not have a fixed maturity date. The manager of a bond fund continuously buys and sells securities in an effort to maintain the best overall returns for the investors.
Financial DictionaryCampbell R. Harvey's Hypertextual Finance Glossary
Mutual funds are pools of money that are managed by an investment company. They offer investors a variety of goals, depending on the fund and its investment charter. Some funds, for example, seek to generate income on a regular basis. Others seek to preserve an investor's money. Still others seek to invest in companies that are growing at a rapid pace. Funds can impose a sales charge, or load, on investors when they buy or sell shares. Many funds these days are no load  and impose no sales charge. Mutual funds are investment companies regulated by the Investment Company Act of 1940. Related: open-end fundclosed-end fund.
Copyright © 2000, Campbell R. Harvey
Financial DictionaryBASSAM Finance Dictionary
A company that pools money of individual investors and purchases securities which become jointly owned by its shareholders. The shareholders receive interest, dividends, and capital gains (but not losses) from the ownership and sale of the fund's securities. The fund's portfolio is managed by a professional money manager. Open-end funds offer shares to the public continuously (except when temporarily closed) while closed-end funds offer a limited number of shares which then trade on an organized exchange. A no-load fund charges no up front or back end sales fee while a load fund may charge one or both. Virtually all mutual funds charge annual expense fees that reduce the investment return. Mutual funds can invest in equity, debt, cash, real estate, options, and futures. There are over 4,000 mutual funds. Closed end funds are purchased just like stocks. Full service brokers usually sell their own funds while discount brokers sell mostly funds of other companies.


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