A fund operated by an investment company that accepts money from investors (shareholders) and pools the funds together to invest in a wide range of securities. Mutual funds offer their shareholders greater diversification than investing in individual securities. Shareholders may redeem their funds at Net Asset Value (NAV) which is generally calculated at the end of business each day. Mutual funds come in many varieties with widely different investment objectives and fee structures. You should always read the funds prospectus and it is wise have a discussion with an investment professional prior to investing in a mutual fund.
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