The Growth of Mutual Funds
When the term mutual fund is used in the investment marketplace, most people think of open-end funds (funds that offer an unlimited number of shares and redemption privileges at any time). In addition to open-end investment company funds, however, there are three other primary types of pooled funds in the United States: closed-end investment company funds (CEFs), unit investment trusts (UITs), and exchange-traded funds (ETFs), which are the subjects of Chapters 6 through 8, respectively. The present chapter reviews the tremendous growth of mutual funds, including recent trends in mutual fund investing. Then it discusses ...
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