an investment company that issues shares continuously and is obligated to repurchase them from shareholders on demand.
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Also called open-end investment company.
Compare closed-end investment company.
Origin of mutual fund
First recorded in 1790–1800
Words nearby mutual fund
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020
British Dictionary definitions for mutual fund
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
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Cultural definitions for mutual fund
A company organized for the purpose of making investments. A mutual fund gets its capital stock from private individual investors, who, in effect, allow the mutual fund to decide where to invest their money.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.