- 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
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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