This document discusses mutual funds, including:
1) Mutual funds offer diversification through a pooled investment in many companies managed by professionals. Investors receive shares representing their portion of the fund.
2) Funds provide convenience, modest investment amounts, and services like automatic dividend reinvestment. However, funds may lack liquidity and consistent performance.
3) Open-end funds issue an unlimited number of shares valued at net asset value, while closed-end funds have a fixed number of shares that can trade above or below net asset value.
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