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Fundology: The Secrets of Successful Fund Investing by John Chatfeild-Roberts

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2. The fund concept

“Few people think more than two or three times a year; I have made an international reputation for myself by thinking once or twice a week.”

George Bernard Shaw

The idea behind funds

The idea of a fund is that it allows someone to invest in a stock or bond market with a small amount of money and little or no expertise. I can do no better than quote the original objective of the world’s first investment trust (founded in 1868), as the sentence is applicable to all types of fund or collective investment vehicle. The aim of the trust, reads the document, is: “to provide the investor of moderate means the same advantages as the large capitalists in diminishing the risk of foreign and colonial stocks by spreading the investment ...

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