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The Growth of Mutual Funds

Keith R. Fevurly

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Abstract

When the term mutual fund is used in the investment marketplace, most people think of open-end funds (funds that offer an unlimited number of shares and redemption privileges at any time). In addition to open-end investment company funds, however, there are three other primary types of pooled funds in the United States: closed-end investment company funds (CEFs), unit investment trusts (UITs), and exchange-traded funds (ETFs, which are the subjects of Chapters 6 through 8, respectively. The present chapter reviews the tremendous growth of mutual funds, including recent trends in mutual fund investing. Then it discusses who owns mutual funds, why they own them, and where they own them. The chapter concludes with a description of the normal classification of mutual funds by their principal investments. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

About this research paper

What this paper is about

When the term mutual fund is used in the investment marketplace, most people think of open-end funds (funds that offer an unlimited number of shares and redemption privileges at any time). In addition to open-end investment company funds, however, there are three other primary types of pooled funds in the United States: closed-end investment company funds (CEFs), unit investment trusts (UITs), and exchange-traded funds (ETFs, which are the subjects of Chapters 6 through 8, respectively. The present chapter reviews the tremendous growth of mutual funds, including recent trends in mutual fund investing. Then it discusses who owns mutual funds, why they own them, and where they own them. The chapter concludes with a description of the normal classification of mutual funds by their principal investments. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Available abstract

When the term mutual fund is used in the investment marketplace, most people think of open-end funds (funds that offer an unlimited number of shares and redemption privileges at any time). In addition to open-end investment company funds, however, there are three other primary types of pooled funds in the United States: closed-end investment company funds (CEFs), unit investment trusts (UITs), and exchange-traded funds (ETFs, which are the subjects of Chapters 6 through 8, respectively. The present chapter reviews the tremendous growth of mutual funds, including recent trends in mutual fund investing. Then it discusses who owns mutual funds, why they own them, and where they own them. The chapter concludes with a description of the normal classification of mutual funds by their principal investments. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Key concepts: Closed-end fund, Fund of funds, Open-end fund, Passive management, Business, Mutual fund, Commodity pool, Global assets under management

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