an investment company that issues shares continuously and is obligated to repurchase them from shareholders on demand.
Compare closed-end investment company.
Origin of mutual fund
First recorded in 1790–1800
Also called open-end investment company.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
Related Words for mutual fundIRA
US and Canadian an investment trust that issues units for public sale, the holders of which are creditors and not shareholders with their interests represented by a trust company independent of the issuing agencyBritish equivalent: unit trust
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