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Mutual fund
Mutual funds are pools of money that are managed by an investment_company. They offer investors avariety 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 companiesthat are growing at a rapid pace. Funds can impose a sales_charge or load, on investorswhen they buy or sell shares.Many funds these days are no load and impose no sales charge. Mutual fundsare investment companies regulated by the Investment Company Act of 1940. Related: open-end fund, closed-end fund.
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