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What is a Mutual Fund and How Does It Work 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 Its 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 Youll learn more about them in Chapter 16 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 funds investment advisor The advisor employs a portfolio manager and
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