Think of a mutual fund as an investment company that pools the money

of people just like you for one common reason -- to make more. Not all

pots of money, though, are alike. Each mutual fund has its own strategy

and investment objective for making money. It's up to you to select the

right mutual fund for you based on your own needs.

There are two types of mutual funds. The most common, which this

book primarily talks about, is open-end funds. In essence, they are open

-- money flows directly into the fund when investors buy and goes

directly out when they sell. The other type is closed-end funds, which

technically are not mutual funds. You'll learn more about them in

With a mutual fund, the big pool of money we talked about previously is

managed by a company, which frequently the organization that started

the fund. This management company either serves as or hires the

Mutual Funds Make It EZ to Invest

minimum of 5 to 10 years.

investment programs. Money is electronically taken out of your

investments. Exactly how much money you make or lose in a mutual

Chapter 6 shows you how.

mail account statements, maintain a customer service department to

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