Mutual funds are setup by a group of professional investors in order to pool money together from individual investors for a particular investment objective.
The mutual fund is led by a fund manager who is responsible for managing the pooled money into bonds, stocks or securities. As the purchaser of a mutual fund, you become the owner of a portion (or shares) (shareholder) of the fund.
Mutual funds are very easy to invest in as they require almost no financial education. It is recommended for the novice investor to buy a mutual fund and not pick stocks on their own.
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