A mutual fund is an investment vehicle managed by finance professionals that raises capital by selling shares (called units) in a chosen and balanced set of securities to the public.
A mutual fund’s capital is invested in a group (portfolio) of corporate securities, commodities, options, etc., that match the fund’s objectives detailed in its prospectus. The level of a mutual fund’s income from its portfolio determines the daily market value (called net asset value) at which its units are redeemable on any business day, and the dividend paid to its unit holders.
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