open end investment company

Cultural Dictionary

mutual fund definition


A company organized for the purpose of making investments. A mutual fund gets its capital stock from private individual investors, who, in effect, allow the mutual fund to decide where to invest their money.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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