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A mutual fund is a form of collective investment that pools money from many investors and invests the money in stocks, bonds, short-term money market instruments, and/or other securities. In a mutual fund, the fund manager trades the fund's underlying securities, realizing capital gains or loss, and collects the dividend or interest income. The investment proceeds are then passed along to the individual investors. The value of a share of the mutual fund, known as the net asset value, is calculated daily based on the total value of the fund divided by the number of shares purchased by investors.
Legally known as an "open-end company", a mutual fund is one of three basic types of investment companies available in the United States. Health questions explained outside of the U.S., mutual fund is a generic term for various types of collective investment. In the UK and western Europe other forms of collective investment are prevalent including unit trusts, Open-Ended Investment Companies and unitized insurance funds.
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