What is mutual fund

IT is Legally known as an "open-end company" under the Investment Company Act of 1940
(the primary regulatory statute governing investment companies), a mutual fund is one of
three basic types of investment companies available in the United States.[2] Outside of
the United States (with the exception of Canada, which follows the U.S. model), mutual fund
maybe used as a generic term for various types of collective investment vehicle. In the
United Kingdom and western Europe (including offshore jurisdictions), other forms of collective
investment vehicle are prevalent, including unit trusts, open-ended investment companies (OEICs),
SICAVs and unitized insurance funds. In Australia and New Zealand the term "mutual fund" is
generally not used; the name "managed fund" is used instead.

To know more about mutual funds please klick the google links.