Chapter-23 - Mutual Fund Operations
Chapter-23 - Mutual Fund Operations
Chapter-23 - Mutual Fund Operations
Closed-end funds
Mutual fund does not repurchase the shares they sell—
similar to direct common stock investment
Number of outstanding shares is constant
Value of shares related to expectations of portfolio and
determined in market
Stock Mutual Fund Categories
Bond Funds
7000
5000
4000
3000
2000
1000
0
1978 1985 1990 1995 1999 2001
Year
Growth and Size of Mutual Funds