- 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. 2018
- 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
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