A mutual fund is a professionally managed that pools money from many investors to purchase These investors may be retail or institutional in nature. Mutual funds have advantages and disadvantages compared to direct investing in individual securities. The primary advantages of mutual funds are that they provide economies of scale, a higher level of world trade center footage rade diversific, they provide liquidity, and they are managed by professional investors. On the negative side, investors in a mutual fund must pay various It remains unclear whether mutual fund management can reliably produce an increase in investment returns exceeding these fees and expenses
Mutual funds were introduced to the United States in the 1890s. Early U.S. funds were generally closed-end funds with a fixed number of world trade center footage shares that often traded at prices above the portfolio The first open-end mutual fund with redeemable shares was established on March 21, 1924 as the Massachusetts Investors Trust. (It is still in existence today and is now managed
the taxable income is passed through to the investors in the fund. Funds are required by the IRS to diversify their investments, limit ownership of voting securities, distribute most of world trade center footage their income (dividends, interest, and capital gains net of losses) to their investors annually, and earn most of the income by investing in securities and currencies
The characterization of a fund's income is unchanged when it is paid to shareholders. For example, when world trade center footage a mutual fund distributes dividend income to its shareholders, fund investors will report the distribution as dividend income on their tax return.
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