Which of the following fund serves wealthy individuals exclusively? Mutual fund Unit Investment Trust Hedge fund Real Estate Investment Trust During the past 15 years, the average performance of mutual funds in U.S. is lower than the S\&P500 average annual percentage return True False Which of the following is the net asset value (NAV) of an investment company? Price of Share during any trading day the initial purchase price per share of an investment company (Market Value of Assets - Liabilities) / Shares Outstanding Which of the following statement is TRUE? Mutual fund has a fixed portfolio with fixed expiration date UIT has fixed portfolio and expiration date Mutual funds are more liquid than ETFs Which of the following is the most reputable place to check out the details of mutual funds? Your financial advisor Google Yahoo Finance Morningstar.